FTB - Wanted to buy... but now considering renting...what do you guys think?

Scarlett.1974

mickym wrote: »

Im wondering... is it common for potential 'renters' to put in an offer for the monthly rent charge?

Was wondering if its considered rude....or just simply laughable?

Absolutely do

Our rent was advertised at £685 pcm. We went in with a cheeky offer of £600....... LL came back with £640...... we went back with £620 and he agreed

dwsjarcmcd

Personally I'd go in at £575 with a view to agreeing £600

mickym

dwsjarcmcd wrote: »

Personally I'd go in at £575 with a view to agreeing £600

Sounds good to me

any other good tips to get a good deal or help to ensure the place is right for us?

I want to take a drive around there in the evening to see what the area is like at night.... unofrtunately my car is in the garage at the moment!

mickym

kharewood wrote: »

Would love to know what you guys think of this site

www.firstrungproperty.com

we are seeking initial feedback so any you can give would be gratefully received.

Many thanks

i dont think you guys should be advertising here!

lil_me

Drive around in the evening midweek and on weekend nights. Ask for a reference from the landlord from a previous tenant just incase the landlord is useless (there are plenty of useless ones aswell as the thankfully higher number of decent ones) Make sure your inventory is correct. Read the contracts several times. If they are a first time landlord or you are unsure if they will be a good landlord I wouldn't sign more than a 6 month contract.

PS we've saved nearly £15000 by renting (price dropped by at least £20000 and we paid out about £5k in rent so far. Good luck. Oh and as for 'long term savings' I keep blowing it when I realise there is more to life than saving for the day my money is worth less........:rotfl:

Almo

Oooh I envy you lot being able to offer under rental prices - it goes the opposite way here (Melbourne) - there are frequent bidding wars over rental properties and it is common to offer over the asking price of a rental!

mickym

lil_me wrote: »

Drive around in the evening midweek and on weekend nights. Ask for a reference from the landlord from a previous tenant just incase the landlord is useless (there are plenty of useless ones aswell as the thankfully higher number of decent ones) Make sure your inventory is correct. Read the contracts several times. If they are a first time landlord or you are unsure if they will be a good landlord I wouldn't sign more than a 6 month contract.

PS we've saved nearly £15000 by renting (price dropped by at least £20000 and we paid out about £5k in rent so far. Good luck. Oh and as for 'long term savings' I keep blowing it when I realise there is more to life than saving for the day my money is worth less........:rotfl:

Will be looking to arrange a viewing at the weekend.

Took a look at it last night from the outside.

Inside looks smaller than expected (from the one room i could see!), but looks clean and neutrally decorated, so would be eay to furnish and look ok.

Garden looked big and a bit unkempt (i presume this may be down to the previous tennants not cutting the grass).

Two minor probs, only 'just' enough parking outside for my car... and there are quite a few other propertys near either up for let or for sale... does this suggest theres a problem in the area? I went around there at about 8-9pm last night. was raining heavily, but didnt see any youngsters loitering around the streets.

lil_me

Go when it isn't raining.

You could ask neighbours why there is so many for sale/to let. Recently a lot of areas seem to have this but I think it's partly because people aren't buying/selling/moving so houses staying on the market longer then it can look bad.

mickym

lil_me wrote: »

Go when it isn't raining.

You could ask neighbours why there is so many for sale/to let. Recently a lot of areas seem to have this but I think it's partly because people aren't buying/selling/moving so houses staying on the market longer then it can look bad.

Yeah it was a miserable night last night, and probably made the property look a bit worse than it actually is.

The garden looks pretty big which is nice and good for potential bbqs if the sun comes out!!

Just wondering when it comes to the gardens is that something the tennants need to upkeep or the LL/LA?

Being the first move, how would you say would be the best way to approach the neighbours?

Thanks Again!

zippygeorgeandben

mickym wrote: »

Any of you out there been long term renters? If so, how do you save/invest for the future?quote]

My partner and I have been renting for 3 years now. We have wanted to move for at least a year now but we know that the longer we can sit tight, the better it will be in the long run. We had the opportunity to buy a new build last June, in the same block as a close friend of mine who was putting pressure on us to buy so we could be near each other (bless her!). However, she wants to sell, her property has just been valued at £15K less than she bought it and her mortgage has gone off its fixed rate and jumped up by a couple of hundred pounds per month.

That decision (or non decision) has probably saved me a fortune.

I've always been a saver (OH not so) and we earn £50K combined but I've always put EXACTLY 10% of my take home salary into an ISA each month. Since I got promoted in August last year, I put EXACTLY (to the penny!) 15% of my take home salary into an ISA. So far there is nearly £9K in there but at least it's building!

Food for thought as well is that no job can ever be 100% secure due to various change in circumstances and if there is one thing Martin has taught me from his MSE books, it's that you should save at least 3 to 6 months salary, just in case you need it for a rainy day.

Would you consider still living at each parents house for a few months and put the money you would have spent on rent into a savings account together? If you were going to go for a £600 pm property, why don't you stay at your parents' for 3 months and stick the £600pm into an ISA. You'll then have £1800 to play with, plus interest.

Good luck with your decision and I hope I have helped in some way.

Ben