In many countries, there is a serious housing shortage. The price of land, labour and materials has all risen fast. As a result, the cost of building a house has soared. Property developers have little choice but to pass on to most of those costs to the consumer, so house prices have risen.
Unfortunately, most people’s wages have not kept pace with the rising cost of homes. This means that selling new homes is not as easy as it once was. As a result, in some places it does not make sense for developers to invest in building on the land that they own. This and several other issues have meant that the rate of building has slowed to a crawl.
A lack of capital and a shortage of new homes to buy means that more people have to rent instead of buy. This huge increase in demand for rental property means that finding a flat or house is becoming increasingly difficult.
Finding a property to rent is certainly not as easy as it once was. Linley and Simpson Estate Agents in York, and others based in popular cities, is busier than they have ever been before.
If you want to find a great place to live in a tight market, you need to be organised. Following the tips below will help you to find your dream home, and do so as quickly as possible.
Sign up with local agents
It is important to go around all of the agents in your area and get on their books. Be clear about what you are looking for and the budget you have. This will reduce your chances of being shown unsuitable properties.
Tap into your agent’s experience
When you speak to the agents do so with an open mind, and listen to what they have to say. Be sure of what facilities you need, and stick to your guns. If you love mountain biking and need a secure place to keep your kit, do not be tempted to rent out somewhere that does not have that facility. You will regret it if you do that.
However, try not to be too rigid about the area you live in. Listen to what the agent has to say about areas to consider. They know which parts of a city or town are up and coming, and where to find rental property in your price range.
If you really cannot find anything in your price range, seriously consider renting a property with a friend. Clearly, you need to be careful about taking this approach. You need to be 100% sure that you can live with someone before signing a rental agreement.
Think outside the box
In many areas, there are other kinds of accommodation available. If there is a river or canal in your city, or a nearby town investigate the idea of renting a floating home. Also, look at the idea of living in converted office or warehouse space. Often the cost of this type of accommodation is lower per sq ft than traditional housing. You can find out more about this option, here.