Thinking of flying the nest?
There’s a time in everyone’s life when they take the next step and move out of their home. Are you ready? Here are some aspects you need to consider…
1) Location… It’s a key factor as to where to start your search. If you rely on public transport, you should make sure you’re close to bus links. How far away from work or your social activities do you want to be?
2) Budget… Make sure you consider that bills may vary from month to month and that you may need to dig into savings to fix a minor item at your new place. No-one ever wants to feel like their struggling to make ends meet so be realistic.
Base rent + utilities + food + transport + social…
(Utilities vary depending on what you’re using but Internet is roughly BDS$100 per month and Electricity could be between $80- 200 per month.)
3) Furnished or Unfurnished… If this is your first rental, I would recommend renting furnished. Furniture can be quite expensive to buy so why not see how you get on and then over time invest in pieces. Make sure you check the appliances are working and what type of oven is provided; gas saves a lot on your utility bill! However, on the flip side, unfurnished enables you to add your own spin on interior design and there is a great second-hand market on Facebook.
4) Pets… If you have a dog or a cat, make sure to let your agent know. Some landlords welcome our four-legged furry friends and others…. Well it’s their loss! Landlords may ask for a pet deposit.
5) Security… Always make sure to drive around the area so you’re familiar with your surroundings. Check to see if the property has security lights and burglar bars on the windows. Make sure all windows and doors open and shut correctly. Look into getting content insurance for your valuables!
If renting a place is your next step, I am happy to help if you have any queries. I would recommend staying between BDS$1000 - 2000 per month if you’re renting on your own. You can go higher but rent is somebody else’s mortgage… so why not pay your own and invest?! Sharing a rental home with friends is a great idea too as you can split the cost!