In today’s rental market there are beautiful, custom homes for rent in the suburbs as well as modern and slick condos for rent downtown.
The only question is: which would you prefer?
Having so many options as a renter is a wonderful thing. Especially with the job market rapidly moving towards a “work from anywhere” culture.
However, when making a decision about the type of rental you would be happy living in, there are many questions and circumstances for you to consider:
Your budget
This is the first consideration whether you are renting or you want to buy a home. Making sure that the cost of renting your home in your budget. This doesn’t only include the amount that you will pay each month for rent. You have to consider whether or not the property offers paid water, sewer and garbage, a gym, or free Internet.
These are all utilities that you will pay in addition to the monthly rental fee. So, if one property rents for a little bit more per month but, overall you would actually save money by not having to pay some utilities that are included – you may want to consider that property instead of others.
For instance, renting a home in the suburbs that does not include any additional utilities could prove to be more expensive than renting a modern downtown condo that costs more in rent but, includes several utilities.
Your space
Typically, when you rent a home in the suburbs, there is at least a front yard if not, a large backyard and patio. Whereas, a downtown condo won’t have that amount of easily accessed outdoor space.
This might be a really important factor if you have children or pets.
Additionally, a downtown condo or apartment is usually going to be a bit smaller than the home in the suburbs.
While they may both cost the same amount of money, one will be bigger than the other and more capable of accommodating you, your family, and your belongings.
Your location
When you are looking at rental properties it is important to choose ones that are in neighborhoods that offer different types of amenities.
For instance, living in the city limits could mean being able to use public transportation to get to and from the grocery store or the library.
Whereas, living in the suburbs would require that you have a car and that you plan ahead for when you will be going to the grocery store.
Living in the suburbs means being thoughtful about budgeting for gasoline and oil changes for your car.
Your family
If you have children you will probably be looking for properties that are in good school districts with easy access to the campus. You probably want rentals that are near parks and walking distance to shops or restaurants.
In other words, the final choice of which rental property you move into would be highly- influenced by the values and priorities of your family.
It is important to look at any potential rental properties from a big picture perspective. After all, this is going to be your home for awhile and where you and possibly your family will grow up and make memories. Use these criteria to be very thoughtful about your decision and find the perfect property for you.