It's common for people to live with their parents nowadays, with cheapness being one of the main considerations and logistics tying closely into that. But I'm all about that independence factor, you see, and as a result – unlike many others – I want to move out as soon as possible.
Because of this innate desire to move out, there are times that I use an online payment estimator to see how much I should pay monthly to own my very own flat. It gives me an overview of how much I should prepare to at least live comfortably and independently. I have been eying out one real estate property on a condo within the city.
After estimating the affordability of the flat I wanted, I realized that I'm not that secure financially just to go out and prep myself for buying a house. So I'll have to take the cheaper option of renting out a home. However, one could take these tips in scouting out homes for rent and apply them to scouting out homes for buying.
And let me tell you, there's a myriad of considerations to be considered when doing so, ranging from prices and location to the very house itself. Why stepping into the whole renting market was one incredibly confusing time for me, with all these things to figure out, people to contact, houses to see, and so on and so forth. I'm pretty grateful that my mom essentially exposed me to such things with her moving about rented homes.
But enough about the back-when, let's talk about the "now"! First things first, you've got to deal with the pricing. Not just the rent itself, no, but also the cost of moving all your furniture and things over there, the electronic bills you might have after moving over, water bills, etc. When buying a house, however, one has to consider mortgages.
You need to have a good financial direction aiming when you move; calculating all these and still being in the green takes some skill.
And then, there is the house that you are moving to, its physical dimensions. There's a lot to unpack, literally and figuratively, here. This is the reason why you visit those houses in the first place. After all, you have to see if your furniture fits into the house and figure out if the house is of a good atmosphere for you.
Visiting the house you'll be renting out is also crucial to this next point, as it allows one to, most importantly, figure out the location of the house, finding out if it is conveniently placed in such a way that one can go to places such as supermarkets, hospitals, malls, and all sorts of locations with ease.
These things are necessary to know as they can help you get food, essential services, etc. Especially so on that middle one as some services tend to be unavailable in some areas of the Philippine suburbs. Why, I remember that one time when we rented a house in a subdivision on the edges of the city in the suburbs, and needless to say, it was a poor experience: the travel times were long as we relied on public transport.
So, in short, the basics of renting out a home are in no particular order: figure out the pricing of the home and other related financial matters, find if the home's space is appropriate for your needs, among other things, and figure out if the new home's location allows you to access various services with ease.
With this info in mind, you should be well on your way to renting out your new home or buying one.