From the first time you picked up a new phone, to the first weekend at the beach, renting a home can feel like a chore.
But for some, the process of making your own home can be more rewarding than the financial rewards.
Now it’s easier than ever to find the perfect place to live and relax.
With a mortgage, mortgage payment, car rental and even a deposit, finding the perfect rental home can seem daunting.
But there are some things you need to know about finding the right place to rent, and how to get started.
Find a good rental property First things first, the key to finding a good place to buy your first home is finding a decent rental property.
“It is the most important thing to make sure you get the best property that will fit your lifestyle and budget,” says Matt Williams, senior vice president of real estate research firm RP Data.
“You need to make the best out of it.”
The key to the perfect property is the rental properties property you choose to buy.
There are three key factors to consider when deciding where to buy a property: price, location and quality.
“The price is key,” says Williams.
“A property should be affordable, affordable, and have a good property manager,” he adds.
“This means a property should have decent quality of living, amenities, and security.”
The location should be within easy walking distance of the property, and ideally within a 10-minute walk of a shopping mall, or an area with a major train line. “
Whether it’s a suburb or city, you need a place where you can live, work and play.”
The location should be within easy walking distance of the property, and ideally within a 10-minute walk of a shopping mall, or an area with a major train line.
“There are some places where you just need to drive,” he says.
“They don’t have the density, they don’t offer the amenities that you can get from other cities.”
In some cases, it can be harder to find a good location than you would think.
“For example, you’ll see a property listed in the area you’re looking for but there’s no office space, no shops and no amenities that will get you into the lifestyle that you’re seeking,” says James.
“If you’re in the same market and have an apartment, there’s a lot more competition for it.”
For example, the location of the properties listed on the top of the page for a Melbourne suburb will be the same as a property on the bottom of the site, says Jones, and if you want to find another property in the suburb, you might be better off going through the estate agent’s office.
“That way you can compare different properties for rent,” says Smith.
If you are looking for a place to spend the next 10 years, the first thing you need is a good city, he says, but you also need to have a budget.
“When you look at a property, it should be as close to the budget as possible.
If the property is under-priced, it won’t be a great value,” says Knight.
Find the right mortgage rate Mortgage rates vary depending on the size of your property, but they should all be within 3 per cent of the mortgage rate you’re applying for.
“I like to keep it around 3 per of the current rate,” says Simon, who is looking to buy his first home.
“Most people don’t like to pay more than 3 per per cent.”
“It can be tough to get the interest rate that you want,” says David.
“As long as you’re saving for the down payment, you can go for a low rate, but if you’re getting paid less than 3, 4, or 5 per cent a month, you may not be getting what you need,” he continues.
If a property offers more than five years of interest-free payments, the interest will go away and the property will become an equity loan, which means you’ll have to pay interest on the loan as it matures.
“Once the loan matures, it becomes a loan, not an equity,” says Dave.
If it’s an equity mortgage, interest will continue to accrue and the interest can be a big issue.
“Your mortgage is a debt that’s going to come due,” says Luke.
“But if you don’t pay off that debt, then the interest on it will continue.”
A bad mortgage rate will also have a big impact on how much you can save by selling the property.
If your property has a bad mortgage, it could lead to a loss of money over the life of the loan, says Williams, who recommends paying off your loan as soon as possible if you can.
“After five years, you’re paying more than you’ve earned, and you’ll be making a loss,” he explains.
“So the best thing to do is to sell your property.”
“If the property has no income, you could also have to sell it,” says Davies.
“Otherwise you might have to work