According to financial advisors, you should only spend less than 30% of your monthly income on rent. However, we are living in challenging economic times, and the lack of well-paying jobs makes this difficult for most people. However, you can follow some of these tips to find the right house in a good neighborhood on a budget.

 

How to locate a good neighborhood

 

As much as you would want to save money by renting a cheap house, you must research several aspects of housing in various areas in your town. Some factors that show a desirable neighborhood include:

  • Increasing home values is an excellent pointer towards a great neighborhood
  • The increase in income across different households
  • Access to the right school
  • Availability of a friendly community
  • An increase in the number of jobs
  • Good walkability
  • Access to public transport, health amenities, emergency services, and excellent public schools

How to rate the safety of a neighborhood

 

Certain things can give you a clue about the area you plan to rent your house. They include:

  • Use of a crime mapping service
  • Talk to the people living in the area. They can give you a glimpse of what to expect in terms of safety
  • Take a tour around the neighborhood and study various conditions
  • Check for the number of homes available for sale in the neighborhood

How to find a suitable area for your price range

 

After you have established the safety and other factors about your intended neighborhoods, you can then begin looking for a house that falls within your budget. You can do this through:

  • Going through a list of what you would want and would not want from a rental home. You do not have to compromise on the quality of the house because you are working on a budget.
  • You need to consider downloading real estate apps. These apps will give you a vast listing of available houses that fall within your price range.
  • Join social media housing groups. Facebook provides a platform where people advertise houses, and you can go through them to find a home of your choice.
  • Carry out thorough research of various affordable house spaces in new areas

If you are currently in the market for a new home, make sure you contact a real estate agent, like Vickie Gallimore: RE/MAX Central Realty, to help you find a suitable rental apartment that works on your budget.

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