Looking for an apartment flat or an independent house on rent? Yes! Then, disfiguring the sole of your shoes-roaming here and there with a local house agent will not do your job. Every tenant wants his house to be good and cheap on rent. However, this type of package is hard to find, and even you are thinking about owning a flat.
We have a wealth of smart tips or let’s say ideas, to find a rental house that will not drain your bank account at the start of each month!
10 Ways to Save Money on Rental Homes
House sitter- for solo living
Yes, you can go for this, if you are alone (no family) living in a foreign land for job or studies, and believes in solo living.
There are many house sitting search websites which are listed on the internet, you have to sign-up on them with all your valid credentials. And, if you are lucky and your credentials meets a homeowner needs you might get a call for house sitting. A house sitter doesn’t have to pay any rent, he or she usually just have to take care of the house, the movable, the immovable articles, and the pets (optional). It is the best way to live in a luxurious surrounding in budget.
The major roadblocks to this idea are: firstly, home owners don’t easily trust someone to take care of their house without proper research and police verification. And secondly, every second person, who in search of a rental home cannot be a home sitter, as he or she has to take care of somebody’s else valuable items, which is the hardest thing to do on this planet. Nevertheless, an option worth trying!
Rent a studio flat- for small families
Yes, why not? Studio flats usually have a kitchen, a washroom and, a big hall to meet the space requirement of a small family. This option is best for recently married couples or couples with one kid, save money for the future to buy your own land when the family grows in number. Moreover, finding a studio flat is not a big deal in any metropolitan city. Scrutinize a few online portals, and your job is done and dusted.
Longer lease- a great option
If you feel you are permanent in the town for let’s say 2 years, then this one is for you. Find a perfect home in situated in the location of your desire, grab with both hands (lease it out). Leasing a flat simply means paying advance rent (one or two years rent in advance) to the house owner at reduced rates. Finding a committed owner can a bit tedious, especially if you looking for flats in the heart of any town. Paperwork needs to given utter attention, to avoid unnecessary everyday arguments and hassles.
The major problem that will push you back is that you can’t escape from the clinches of the lease. For instance, your company wants to shift your work location, far from your town. Loss of money may occur, if the house owner with whom you have signed the contract for property lease is money minded cheap thick skin guy.
Wait for the perfect time
Our elders have said that the patience is the road to success, be patience and you will get your fruits of hard work. You must be going bizarre what we are talking about? Wait until the time of the year when the prices of property and the rent is in the downward trend.The beginning of the year is usually tough to find a suitable house for rent, as students and people are moving ahead in life to follow their dreams in a foreign land. Pick the quieter time of the year, like at the start of the winter season as during this period people normally don’t want to change their house to avoid inviting many winter problems. In today’s scenario of the real estate market"the ghost of recession", you will not have to wait too long!
Live in suburbs areas of a metropolitan city
Frankly speaking, if you are serious about saving money and at the same time not compensating on the standard of your living, then you must consider living in a suburb seriously, without rejecting it on the first go. Massive land spaces in cities today are hard to find, therefore property developers are moving to suburbs to satisfy the growing need of house requirement.
Some may call it bad, but urbanization is truth and the way to offer budget homes. Don’t think you will be hindered from all the necessities that you get in a big city. Today, suburbs have a better lifestyle, the standard of living, and moreover, better social life in comparison to cities. People are spending their life savings to buy the end-user homes in suburbs which is indeed a remarkable thing for all the global property developers. You will be surprised to see the quality of people, who are living in the suburbs, from doctors to engineer, families are moving out further to find a better living standard.
The drawback to this idea is the lack of transportation which is the problem of most suburbs, but you can overcome (a fraction of it) it by going to your office by your own vehicle.
Avoid memberships, if possible
You can cash on the extra apartment’s perks to save some money every month. Societies usually charge a fixed sum of money as maintenance cost and some extra membership cost. We are not saying to skip your society’s maintenance charge, paying maintenance is crucial for creating a healthy and good environment in the society, But, you can certainly save on extras, like a gym membership, swimming membership. If not required, don’t opt for this service, normally these memberships are expenses and without getting in your knowledge- eats away some part of your salary every month.
Going further, you can save money by organizing parties in the terrace of the apartment (if allowed).
Again the major roadblock, avoiding these memberships is not possible in the era of modernization. Who doesn’t want to enjoy swimming on a Sunday afternoon with family, and to stay fit by going to gym regularly? You have to make that final call.
Compromise-you has to
The bitter truth of life- in order to save money you got to compromise to a certain extent. The same goes when looking for a rental house. How? Old houses! If you are not very fussed about living in a modern house that offers all the luxurious necessities like the chimney, stilt car parking, etc. Then go for old houses.Old homes are cheaper and suitable for big families.
Individual who believe in the quote “simple living and high thinking," are the ones, who succeed in life, because they know how to overcome tough periods of life. They are Happy to live with vintage bathroom and unmonitored garden space to save heaps on their monthly rent for a better and bright future.
House Rents vary drastically from the neighborhood to neighborhood in the same town. Human is a social animal and he prefer living in an areas where his vicinity is occupied with flats or house and good neighbors, and at the expense of extra money. But, if money comes first on your mind, then look for houses in areas less desirable location to get the best deal.
Now, let’s come to the problem you will face to get this idea on road. Firstly, safety wise this option is by all stretch of thinking a poor choice. Secondly, you family members will feel alone, especially the lady in the house, she will feel deserted and bored.
This era of the internet doesn’t force to you to become its slave, but not to become its master is also not a Wiseman thinking.There are many top property listing sites which are there to help both house seekers and renter, to find a perfect match. You can bargain on rent via online to get the best property deal in the town. Online sites put the guy, who is look for a house on rent on top of the person, who wants to rent.
Talk to the potential landlord
While you want to make a good impression to your potential landlord, you also need to know, whether your potential landlord is friendly towards his tenants? Whether he is the guy to have a long term abuse free relation? There are many questions that require answers, but you can’t just walk to the landlord house and ask this question. You have to have to observe and make a judgment!
In general, you want the house owner to be simple and polite (a tough ask) to you, ready to take care of the maintenance of the house. You can also talk to current or past tenants of the house in personal to understand the problem they faced such as infrastructure issues, response time to complaints, and Surrounding. And, whether they want to recommend this house for rent or not?
Ask about the living expenses of the area, if you are new to the town. Current tenant will hopefully give you a fair idea on what they spend on entertainment, transportation, and other daily utilities, as well as information on the families living in the surrounding.