Moving out of your family home for the first time and into a rented property can be a daunting task for anyone. Whether you are a student preparing to move out for university into Student Lets, or you are a young professional who has just bagged their dream job and is looking for a Professional House Share to support their prospects. We have compiled some of our top tips for every first time renter to ensure that your first independent move is a happy and enjoyable one at that.
Top Tips For Every First Time Renter -
Carry Out Extensive Research
Moving out for the first time is a major life event, not to mention an even bigger financial demand and commitment to make, therefore you want to ensure that you carry out the correct research prior to your move, to guarantee that you choose the right place for you.
You may want to consider the following;
The Location -
You don’t want to be renting a property that is based miles away from your university or workplace, as this will only end up costing you more in terms of transport commuting, not to mention it just will not be very practical for you. Therefore you should take a look at properties that are around the area where you will be earning or studying, and choose a nearby town. Here at Taylored Lets we have an extensive range of properties available for both Student and Professional lets, as well as Family Lets and House Shares, across Newcastle upon Tyne.
Your Local Amenities -
When you are choosing your rental property it is important to consider what local amenities are around the area and what specific things you want from your new hometown. Perhaps you require a local shopping centre, or a local school for your children, or you wish to have your very own cosy local pub to wind down in after a busy day? Ensure that you have everything you will need right on your doorstep.
Rent What You Can Afford
Before you sign any contract, every first time renter should make sure that they carry out extensive research on the price point of the properties in the favoured area that they are looking in. You may love a particular property that you find, however you don’t want to settle for it if it is way above your budget. It will simply not provide a comfortable nor enjoyable time living there. Make sure that you settle on a monthly rent payment that can be easily covered by your earnings, and still allow you to have extra income left over to spend on leisure activities and your daily necessities.
Consider Your Flatmates
If living at home is all that you are familiar with, then you will be used to sharing the house with your parents and/or siblings. However, when it comes to moving out into your own rental property for the first time, chances are you will be sharing the pad with fellow students or young professionals. We recommend that prior to you signing on the dotted line, you meet your potential housemates, ask them any questions that are on your mind, ask how they currently balance the household chores, and figure out what their general daily routine is. If your role requires you to be up and out for 9AM and settled in bed before midnight, then sharing with a student who enjoys their wild nightlife probably won’t be the best situation for you. Be sure to vet this out prior to any agreement!
Make A Budget Plan
From the moment you move out of your family home, you will be standing on your own two feet and paying for all of your daily essentials yourself. From your weekly grocery shop, to ensure that your utility bills are met, paying your rent on time and so on. Now is the perfect time to draw up a plan of what monthly payments will be coming out of your bank, what you need to budget for and to plan a timescale of when the payments will leave your account. This will put you in good stead for managing your finances, and knowing exactly what you can and cannot afford on a monthly basis.
If you have seen one of our properties that you are interested in viewing over on our website then please don’t hesitate to get in touch with our team today to book your viewing! They can assist in answering any of your enquiries, helping you to plan to become a first time renter and many more.