How to Compare Rental Homes
When you’ve looked at enough rental homes, it’s sometimes hard to remember what you’ve seen, let alone which one is right for you. Below, we’ve outlined a simple method of how to compare the various contenders.
Take notes
It’s hard to compare what you’ve seen if you haven’t faithfully recorded the details of each house. As you visit possible rentals, write down the pros and cons of each one and details like the size of the yard, types of appliances and square footage. You’ll also want to put down your impressions of the neighborhood in terms of safety, convenience and traffic. Taking a photo of each house will also help jog your memory when it comes to making your final decision.
Where is it?
Sometimes there is one item on your list to which all others are secondary. It could be cost or size, but almost always location is the selling point for a piece of real estate, as we’ve been endlessly reminded. Where you live is often the question around which all other compromises are made, such as how big a place is or what other amenities it might have. Stake out your potential neighborhood. Discover what it’s like at 12 noon and 12 midnight. Assess the quality of its schools, the convenience of shops and the commute to your job at rush hour from your potential new home and back again, to see if it would work for you on a daily basis.
What do you get for the money?
Budget is often the deciding factor when most people shop — whether it’s for shoes or a rental home. Look at your notes from the various houses you’ve seen and decide which one, taking all categories into account, gives you the best value? Sometimes, there is no price tag for things like a quick commute or a safe place for your kids, so weigh in the “priceless” factors on your list of possible homes against the more quantifiable things about them like size, condition, etc.
So you’ve compared your list, consulted your snap shots and done homework on the neighborhoods of your top rental candidates. Now what? Here is where your gut takes the reins. Which house you’ve seen feels the best to you? At the end of the day, never dismiss instinct as the best divining rod for deciding where you want to hang your hat.