Q. My wife and I are sure we do not want to buy a home yet but we feel we have outgrown renting an apartment. We prefer a bigger space with less neighbors who complain about the slightest noise. We have thought about renting a house and I was wondering if anyone out there can tell me their experience in renting a house. Is it better or worse?
A. A serious drawback to renting a house especially in today's real estate climate is not knowing when the owner might decide to put the place up for sale.
Advantages to renting a house?
-far more space to enjoy than you would find in an apartment
-no common walls, ceiling or floors to hear noisy neighbors or who might complain about you. However, be aware that you could also have noisy neighbors next door as well- even renting a house.
- no disturbances with tradesmen constantly "upgrading" the building
- no elevators breaking down
- better chance to have a pet if you want one
- a yard to lounge around in
- most likely will come with washer/dryer, ensuite bathroom, fireplace etc etc.
- maintenance of the place is done by the owner, not by you.
Disadvantages:
-owner could suddenly decide to sell
- heat and hot water usually not included and because the place is significantly larger your monthly utility bill [which could include heat, hot water, electricity, garbage pick up and water] will be much higher
- depending on the age of the house the owner may be doing regular repairs and upgrades which will be interruptions to you
- risk of chronic barking dogs just outside your bedroom window from the neighbor's yard next door could be a problem
- less secure than an apartment setting
- expect to pay significantly higher rent because you are getting so much more.
- Though maintenance [grass cutting etc] is done by the owner you might get an owner who is not all that interested and doesn't do all that much even though he should.
- insurance will be higher
Given your comment, "We prefer a bigger space with less neighbors who complain about the slightest noise," I would say those far out weigh any of the disadvantages to renting a house. I'd go for it!
Advantages to renting a house?
-far more space to enjoy than you would find in an apartment
-no common walls, ceiling or floors to hear noisy neighbors or who might complain about you. However, be aware that you could also have noisy neighbors next door as well- even renting a house.
- no disturbances with tradesmen constantly "upgrading" the building
- no elevators breaking down
- better chance to have a pet if you want one
- a yard to lounge around in
- most likely will come with washer/dryer, ensuite bathroom, fireplace etc etc.
- maintenance of the place is done by the owner, not by you.
Disadvantages:
-owner could suddenly decide to sell
- heat and hot water usually not included and because the place is significantly larger your monthly utility bill [which could include heat, hot water, electricity, garbage pick up and water] will be much higher
- depending on the age of the house the owner may be doing regular repairs and upgrades which will be interruptions to you
- risk of chronic barking dogs just outside your bedroom window from the neighbor's yard next door could be a problem
- less secure than an apartment setting
- expect to pay significantly higher rent because you are getting so much more.
- Though maintenance [grass cutting etc] is done by the owner you might get an owner who is not all that interested and doesn't do all that much even though he should.
- insurance will be higher
Given your comment, "We prefer a bigger space with less neighbors who complain about the slightest noise," I would say those far out weigh any of the disadvantages to renting a house. I'd go for it!
What are the monthly bills associated with home ownership vs. renting?
Q. We're buying a house, and we're trying to figure out exactly what new bills we need to factor in.
We already pay:
-Rent (=mortgage)
-Electricity
-Water
And we know we'll have to add:
-House Insurance
-Gas
-Trash
But what else are we missing? Just a general list of bills, not pricing or anything.
Thanks!
We already pay:
-Rent (=mortgage)
-Electricity
-Water
And we know we'll have to add:
-House Insurance
-Gas
-Trash
But what else are we missing? Just a general list of bills, not pricing or anything.
Thanks!
A. property tax, depending on your loan private mortgage insurance, possibly HOA dues, and then just general maintence
What expenses come with renting a house?
Q. My boyfriend and I are thinking about renting a house...
I know you have to pay rent but I was wondering what other bills and what sort of price range to expect...
We worked out
- Electricity/gas
-Water
- Phone
- Internet (he wants cable)
and food...
But how much would each cost, even a general idea would help alot...
Have I missed any bills?
Any responses would be greatly appreciated!
*hugs*
Lol. We live in South Australia and the house we are currently looking at is in Ingle Farm.
I know you have to pay rent but I was wondering what other bills and what sort of price range to expect...
We worked out
- Electricity/gas
-Water
- Phone
- Internet (he wants cable)
and food...
But how much would each cost, even a general idea would help alot...
Have I missed any bills?
Any responses would be greatly appreciated!
*hugs*
Lol. We live in South Australia and the house we are currently looking at is in Ingle Farm.
A. Psst ... I will let you in on a little secret ...
If you call the utility companies and ask them about a specific address, they will tell you what the average monthly bill was in the previous year. That way you can put some hard numbers down when trying to figure out your monthly expenses.
Water is usually taken care of by the landlord, but not always. You also might want to think about renter insurance to cover any losses you might incur from theft or disaster. Since you are talking about renting a house you might be responsible for cutting the grass so you should add that to the tally too.
If you call the utility companies and ask them about a specific address, they will tell you what the average monthly bill was in the previous year. That way you can put some hard numbers down when trying to figure out your monthly expenses.
Water is usually taken care of by the landlord, but not always. You also might want to think about renter insurance to cover any losses you might incur from theft or disaster. Since you are talking about renting a house you might be responsible for cutting the grass so you should add that to the tally too.
What are some things to watch out for when renting a house privately?
Q. I have always rented apartments owned by big property management companies. I am looking into renting a house or townhouse later this year but am nervous about renting privately from the owner. What should look for/look out for with the person I would be renting from.
My main concerns are having to move out with little notice and appliances breaking and not getting fixed. Since so many of the houses are for sale or rent I am worried a buyer might come along and we would like to clear out immediately.
My main concerns are having to move out with little notice and appliances breaking and not getting fixed. Since so many of the houses are for sale or rent I am worried a buyer might come along and we would like to clear out immediately.
A. Good question. You will need to do some research. Whatever property you pick- research it in public records. Clerk of Courts for whatever county you are in type in owners name- make sure there are no liens on the property or les pends, judgments or notice of foreclosure. Also you may want to check the property appraiser site for whatever county you are in as well- usually from this site there is a link to take you to the tax records-- you want to make sure the taxes on the property are paid. Also, it is always a good idea to have an attorney go over your lease with you- to ensure that you are being fully protected. Anything that is not in writing can become an issue- it is a good idea to make sure that the lease states CLEARLY- who is responsible for what- from payment of utilities to repairs. To be safe- once you rent a home I would definitely have renters insurance. It could save you a bundle in the event of a disaster or accident.
You are smart to be concerned and cautious. People are in difficult times and there is nothing more frustrating than being served at 6 in the morning with a 30 day notice to leave- because the home no longer belongs to the landlord. An attorney can ensure in the lease that you are protected to the full extent that the law allows.
You are smart to be concerned and cautious. People are in difficult times and there is nothing more frustrating than being served at 6 in the morning with a 30 day notice to leave- because the home no longer belongs to the landlord. An attorney can ensure in the lease that you are protected to the full extent that the law allows.
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