OVER the past few months, I have spent a lot of my time trying to find a unit to rent. In fact, at this point, I may have already looked at almost all the available condominiums and houses in the Klang Valley. It was a struggle to find my new home.
Looking back at it all now, it is understandable why. Considering how I went about it, it is no wonder I found it difficult. If only I had been more organised, my new home would have definitely fallen into my lap a lot sooner.
So, based on the lessons I learned while hunting for a new place to rent, here are several factors to take into account before settling on your new home.
1. Location
This is one factor that needs to be emphasised. As the late Harold Samuel once urged, consider “location, location, location” when it comes to real estate. His quote surely rings true as the location has an impact on the longevity of your stay.
Living in an inconvenient area will drain you over time, as it has been proven that long commutes can impact you psychologically, mentally and physically. Hence, it is always advisable to pick a living space that is convenient to your lifestyle.
Whether it be near your office, children’s school or public transportation hub, decide on a unit that is accessible to your key destinations. A convenient residence will save you a lot of time and energy.
2. The local neighbourhood
However, that does not mean it is wise to just randomly pick a nearby area. You should, of course, carry out research on the area you are planning on settling in.
Among the pointers to note is if that area has a low or high crime rate. Or if it is noisy in the evening or at night? Is it easy to get in or out of your local neighbourhood? To get this information, you can maybe try visiting the neighbourhood during different times – during the day, night and on the weekends.
Your local street may look quiet on a working Monday, but can turn noisy on Friday or Saturday nights.
3. Budget
After deciding on the two, the next question to ponder would be your personal budget for the unit. How much are you willing to fork out for the apartment or house? More importantly, will you be able to bear the cost of the space on your own?
Many scholars have advised for rental fees to not be over 30% of your monthly income. This includes amounts set aside for maintenance and utilities which include electricity, water, and internet.
Also not forgetting the two months (based on the average requirement) of security deposit that is expected of you before moving in.
4. Unit condition
Before moving in, it is crucial to also ensure the unit’s condition. Is the unit brand new, or has it been around for a long time? This is important to know because it affects the amount of money you will have to spend in the long run.
For instance, if it is a brand new unit, you may have to furnish the whole space on your own. And that might cost you a lot. And if it is an old unit, you might have to regularly pay out to maintain the place.
For example, the air cond or water heater may need fixing yearly, or even monthly. While it is natural for landlords to cover that, some expect the tenants to cover the fees, since they are the ones using it.
Apart from this, the unit’s size is also an aspect to pay attention to. Different developers prioritise different areas of the residence.
In some units, the kitchen is big while the living room is small. Others may have a bigger bedroom and living room, but a smaller kitchen. Thus, it is important to decide which specific living area you would want to prioritise more.
5. Landlord
Whether we like it or not, landlords have a lot of influence on our experience living in the unit. Since you will be dealing with this person a lot, it is important to see if your relationship with him or her works.
Be thorough in finding out if your landlord is reliable, and if your working style blends together with him or her.
Trust me, a difficult landlord will make your life a living hell. Thus, always get to know about your landlord before signing the contract.
