When you make the decision to move into a new home, there are a lot of questions that you need to have answered. You need to know what you can afford, whether you should stay in the same neighborhood, how many rooms you need, and more. Another big question that you may need to consider is whether it makes sense to rent a home instead of buying one. (You can use our Renting vs. Buying Calculator to help you decide.)
If you choose to rent a home, ask these questions before you say yes.
- What changes can you make? Ask your landlord how much you can alter the home. Can you paint the walls a bright color? What about making holes in the wall to hang pictures? Not being able to decorate your home the way you want may alter your decision; however, there are ways to make changes without upsetting your landlord.
- How is maintenance handled? Should you be making the repairs yourself or will the landlord handle them? What about emergency repairs? Ask this question before you sign on the dotted line so you’re aware of your financial responsibilities.
- What’s the penalty for breaking the lease early? Most leases have a time limit and a repercussion for breaking the lease. Find out the fee in advance so you can add it into your budget should you need to move.
- How are utilities factored in? Ask if you will be responsible for paying the utilities or if you’ll owe the landlord a lump sum that is included in your monthly rent. Find out the details about your monthly utility bills before the lease is signed so you can budget properly.
Ask these questions so you choose a “Home Sweet Rental” that’s right for you!