Rent Your Dream Home with a Lån til Depositum

Renting a new home, whether for the first time or to increase the size of your home as your family grows, is an exciting but expensive thing to do. There are many costs associated with moving home, which can increase the amount of stress associated with moving.

If you are planning a move you should budget for all costs before beginning to look for a home to move into. Budgeting first will help you to ensure that you have enough money to move home and have the items you need to be comfortable in your home.

Rent

The amount of rent you can afford to pay should be the first consideration you make. The monthly rent you can afford will depend on your personal circumstances, and the cost of properties will depend on where you want to live.

Once you know how much you can afford to pay for rent, you can begin to look at where you want to move to. In order to calculate how much you can afford to pay in rent, you will need to know how much your other outgoings will be each month.

It is important that you do not overstretch your finances by renting a property at the very top of your monthly budget. If other household bills increase, you will be at risk of having to cut costs from non-essential bills, or you may not be able to continue to afford your rent.

In addition to paying your rent each month, there will be an additional cost to move in. You will have to pay the estate agent to rent the property; this will usually include a holding fee to have the property held in your name while checks are done.

Additionally, you will be charged for the credit checks that will be completed before you can move in. Providing you pass all of the checks and are granted the tenancy for the property, you will pay the first month’s rent and make a deposit, usually equal to one month’s rent.

After you have paid this higher cost, you will pay the rent monthly on an agreed date. If you are unable to afford the upfront costs, you can take out a lån til depositum. A loan for your deposit can be used for the essential upfront costs; however, you will need to calculate the loan repayments as part of your monthly outgoings.

You can check whether loans for rental deposits are available and if you qualify for them online.

Furniture

Whether you are moving into your first rented property or you are moving to a larger property, furniture is a main consideration. You will need to decide if you wish to rent a property that is furnished or unfurnished.

Renting a furnished property will cost you more each month; however, if you are renting your first home and have no furniture, the additional rent is likely to be significantly lower than buying all of the furniture that you need.

However, all that renting a furnished property will mean is that if you move to a new property, you will need to purchase furniture. You will also not have a choice about the furniture that will be in the property, and it may not be your style.

Alternatively, you can rent a property that is unfurnished, meaning you can have it look exactly as you like. However, if you are furnishing a property for the first time, this will be expensive. You may also not be able to begin shopping until you find a property, as you will not know the size of the furniture that will fit into each room without overpowering it.

If you are moving into a larger property and you have some furniture to take with you, this will be a less expensive process. If you are renting an unfurnished property and do not have all of the money you need for furniture, you can take out a loan to purchase furniture or create a credit account with a furniture company.

As with a loan for a deposit, you should be sure that the repayments are affordable in addition to your rent and other bills. You can take the loan over a longer period if that makes the repayments more affordable.

Decorating

Interior design and home improvement are not the first priorities when moving into a rented property. Some tenancy agreements will provide specific rules regarding decorating, and you may need written permission to do so.

If you are moving into a nicely decorated property, even if it is not to your taste, you do not need to spend money redecorating immediately or before you move in. You can then decorate as and when you have the money if redecorating is permitted.

However, if you are moving into social housing, which you are responsible for decorating, you will need to budget for this. You may be entitled to a grant for decorating depending on where you live and what you are entitled to, which will help reduce the cost.

In addition to your budget, if you have to decorate before you move into the property, you will need to consider the time this will take. If you are able to do the majority of the decorating yourself, this will save you time.

Appliances

Most rented properties, even those that are unfurnished, will have an oven in the kitchen. However, if you are renting an unfurnished property, you will need to purchase every other appliance you need for daily life.

The types of appliances you purchase will depend on what you will use. If your budget is not high, then it is best to purchase the essential items you will use regularly. You can add appliances that you like but are not essential while living in the property.

Again, you can use a loan to purchase the essential appliances. You can also look at refurbished or second-hand items that are still of high quality to keep costs lower.

Household Bills

The biggest expense you will have in addition to your monthly rent will be your household bills. The amount you will pay each month for utilities and other household expenses will depend on where you live and what is charged for home occupiers.

You cannot guarantee that your household bills will remain the same with changing rates. Some utilities will change on an annual basis, while others may change from month to month, depending on company charges.

It is important, for this reason, to ensure that you do not overextend your finances and become unable to pay your bills. If your utility bills increase and you are not able to make the payments each month, you should first look at your non-essential outgoings to make reductions.

Reducing your non-essential outgoings may be a temporary measure while the situation stabilizes or may need to be a long-term change. Household bills are as essential to pay as your rent; if bills go unpaid, your utilities can be cut off, and your credit score can be negatively impacted.

Food

Buying food is also essential when renting a property and is often an unexpectedly higher cost than planned. If you have only ever lived with your parents, you may be unaware of how expensive food is to buy.

You can prepare for how much your food shopping will cost when renting your own property by costing the items you would buy before you move. It is best to visit several grocery stores to see what is available, how much the items you like will cost, and what an average weekly and monthly food shop will cost.

There are many ways to reduce the cost of your food bill if you find that you need to. You can shop at cheaper grocery stores, look for offers that are available in the store, or shop for items that are close to their expiry date, which will often be cheaper. You should also never go shopping for food while hungry as you will often overshop when hungry.

If you find that your food expenses are becoming out of control, you can create a food plan for the week and shop for only what you need for the meals you have planned. Shopping for only what you need will also help to avoid food waste.

Hobbies

Hobbies and non-essential spending are the most fun types of spending, but often the types that most people do not account for. Non-essential spending is often also the area where many households will reach or exceed the monthly budget.

It is therefore recommended that you include an amount for hobbies and leisure activities depending on what you enjoy. Having ways to relax after work is what makes going to work worthwhile for many, and depriving yourself of leisure activities can lead to burnout.

Creating and sticking to a budget will make the process of renting your home easier and more affordable. There are many budgeting websites available to help you when moving homes, and we recommend that you make as much use of them as needed to help you manage your money.