Australia is one of the most expensive countries to move to. This is especially true because of the price of real estate in all major cities. Even those who move when they have a steady job and a plan for their stay might not be able to purchase a property for the years to come.
The best way to go is to rent out a place for a while, which is less expensive right away, but it can be quite a financial burden in the long run. It’s a big decision and it’s important to investigate the market and the property you’re trying to rent.
The most important feature of a property you’re trying to rent is its location. It’s what will determine most of its price, since the property of the same size will probably cost quite a lot more in a better location.
At the same time, an apartment that’s chosen based on your commute and daily routine can end up saving you money in the long run, on busses, taxi cabs and wasting time on transportation in general. Have in mind that the value of a location can change in a matter of years, sometimes quite suddenly.
Bills and taxes
The amount you’ll have to pay can sometimes be much higher than the price of rent you’ve agreed upon with your landlord. This can consist of paying the bills and sometimes paying the taxes on the rent you owe.
Technically, taxes should be paid out on the landlords’ end, but all of these costs could be transferred to the person living in the apartment. It’s up to you to make such a call and to figure out if the low is rent worth it if there are other expenses to consider.
A check up
Before you decide on the apartment, you should make sure that there won’t be any heavy maintenance or costly repairs needed as soon as you move in. This is also an opportunity to agree on the thing that might need repairing and who’s going to cover the cost of those alterations.
It’s best to hire a local repair man, like the professionals doing plumbing in Burleigh Heads. That way, you save money on their commute and get a fair assessment of potential issues with the property. The same goes for an electrician and possibly an IT person, depending on what you get with the apartment.
Proof of earning
For the most part, a landlord will ask for some sort of confirmation that you are able to pay your bills on time and for a while. All you’ll need to do is to prepare your contract and a couple of pay checks that show how much you earn and when you’re paid.
Some landlords may ask for something more than that. They might want a proof that you don’t have any outstanding loans and that you pay your phone or other reoccurring bills on time.
In the end, you need to have things figured out for when you want to leave the property. There are two main parts of this. Firstly, you need to decide on how long you plan to stay and whether there any fees related to leaving the property. Secondly, there should be a clear system in place for when you want to leave ahead of schedule. There are most definitely fees in this case.
There are also the costs of cleaning to consider, because some landlords want to get their place back in the same condition as it was when they’ve rented it in the first place.
For most people, renting is a better way to find a place to live in Australia than purchasing a place. Before you move in you should inspect the place with a few repairmen and you’ll need to figure out how much you actually need to pay including taxes and bills.
This post was written by Diana Smith. Diana is a full-time mom of two beautiful girls very passionate when it comes to home decor and latest DIY projects. In her free time, she enjoys exercising and preparing healthy meals for her family.