Buying a house in London is looking tough as house prices are soaring and banks are tightening up lending criteria. With renting becoming the lone option for the middle class, saving a few bucks through some judicious steps will be prudent enough. If you do not want to pay astronomical rents and get the best rental for your money, look at these tips.
Set a budget
Before setting heart on a fascinating property work out exactly how much you can afford each month. Working out the upper limit will save you from stretching your finances from a breaking point. Also factor in the extra bills need to cover once you move in.
Use Property Search Engines
There are many ways to look for a property and make the most of it to avoid missing out on a perfect place. Online property sites like Rightmove or Findaproperty can be signed up for suitable alerts.
Furnished or Unfurnished
Choosing between furnished or unfurnished properties is important. If it is like moving into your first flat and have little furniture you can save money of you opt for a furnished property.
Location Vs Size
Decide whether location or size of property is more important to while searching for a property. The more flexible you can be about where you live better will be the chance of finding a bargain. Proximity to transport links and other local amenities is a plus factor for any property.
Property Viewing
Once you have found several properties that match your criteria book your first viewing. Call it testing the property rather than viewing it. When you are going to sign a tenancy for long term rental flat in London, make sure the following are working well by testing.
- Turn the taps
- Test water pressure
- Test the shower
- Flush the toilet
- Check the fixtures
- Check fittings
- Open and close windows
- Take Photos as you view to back up your list for improvements.
Deposit Protection
The deposit can be one month or six months of rent depending on the tenant’s credit worthiness and credibility. It is important to convince the landlord that you can afford to pay the deposit before signing the rental deed. Once the rental agreement is signed it must be ensured how the prospective landlord will be holding the deposit during the rental period of the property as mentioned in the agreement.
