A family would always need a home. When you’re cash-strapped, and you can’t afford to build a new home or take out a mortgage, your most feasible option would be to lease property. This is the affordable way to go. So how do you find a good property to lease? What are the characteristics you should look for?
Accessible to Job and Children’s School
One of the things that many tenants find is the accessibility of the property to their workplace. It doesn’t mean that it should only be walking distance, rather, there must be readily available transportation.
Whether you would reach your workplace by train or by bus, what matters is you would not have a hard time going to work. It is in the same vein that your children would not have a hard time going to school from your rented place.
If you can’t find a leased property that is newly-built, at least settle for one that is newly-renovated. There are real estate investment companies that acquire single family homes then afterwards, completely renovate them. Finding a company that offers this kind of deal is like hitting the jackpot.
When the property is newly renovated, it’s just like you found yourself a newly-built home. Some of these companies are into Section 8 investing, which could be advantageous for you if you are Section 8 eligible, as outlined by Money Crashers.
Just the Right Size
Just one more thing, if the property that you would be leasing is a big one, then you can expect its price to go higher. On the other hand, a smaller property would also command a lesser price.
Be wise in choosing the property. If you’re a family of five or more, then you may need a bigger house to accommodate all your needs. If you are few, a smaller property may suffice. So consider this factor too so that you will not overshoot your budget.
Keep these things in mind when you’re looking for a property to lease. If you can find one that will be convenient for you, newly-renovated and the perfect size for your family, then you may have already found the right property.