November 17, 2014

How to fix a budget before renting a flat

budget before renting a flatWhen looking for a place to rent, planning your monthly budget can be very difficult. Striking a balance between monthly expenses and savings is a big task for some people. One must find a balance in saving and spending while renting a flat. Usually, renting a flat involves brokers, but there are helps people finding broker-free flats for rent in Bangalore.

Here are a few tips to balance the saving and spending quotient.

Make a list of must-haves

Make a priority list for all the things you need in your flat. In fact, pen down all the needs. Do you want a spacious flat or a cozy one? How much area do you need? What are your priorities?
Spacious living rooms can be aesthetically pleasing, but not always pocket-friendly. Apartment size is a major factor in deciding the price. Families need more space than bachelors. Even though a rental isn’t a permanent option for living, it should be spacious enough to accommodate your folks.

Consider the transit time

Location is an essential consideration when hunting for a flat to rent. Choosing a flat close to your workplace can save you a lot of bucks in travelling which you can ultimately use in renting a better place. The far you live, the more you have to pay for the travel expenses. If you can't afford to live near office, look for flat in a place that has direct connectivity to your workplace. Always choose a place that has direct connectivity to your workplace and other main areas.

Access to lifestyle needs

Sometimes the flat is in very good condition and it is available at a reasonable price. Such flats usually create doubts in the mind of the renter. The doubts can be confirmed by checking a few things. Asking neighbours always help, they usually have a good idea of the neighbourhood. Sometimes the low cost is due to some major issues in the neighbourhood. Always look around the neighbourhood for access to lifestyle needs, it will give you an idea of the lifestyle of the neighbourhood. Gyms, clubs, markets, public transport, these are important things to check before renting a flat.

Amenities and other house related expenses

More often than not, people get carried away with the amenities provided by the house owner. One one hand, amenities add to the luxury of living. On the other hand, they also add a hefty amount on the total rent. If the owner is not providing enough amenities in your desired rent then you can always negotiate the rent. Amenities can be taken care of later when you are done with finalizing the flat. Always look for needful amenities before luxurious ones as needs are more important than luxury.

Allocate for investments in the neighbourhood

Most if not all the renters, eventually plan to buy the property. This is mostly in the cases families. Families do not like relocating in every few months, they look for places they can stay in for a long time. When looking for a flat to rent, always consider the buying factor. Ask yourself if, in the future, you see yourself buying this property. If the place is worth investing the money, then it surely a good place for renting as well.