Relocating? Why it pays to rent first
Whether it’s for a job, a relationship or a simple change of scenery, relocating to a new town, city or regional area is a major milestone.
And while it might be tempting to dive straight in and purchase a property before making the shift, there are benefits to renting in the new location before you commit to buying.
If you’re considering relocating, here’s a quick insight into why it pays to rent first…
The lie of the land
As much as you can research an area and tour it via Street View, to get a true feel for a place you need to experience it in person, and that’s especially the case of you’re considering purchasing a property in that region.
Renting provides this ‘on-the-ground’ immersion. It allows you to understand what a region looks, feels like, and what it’s like to live there without the commitment of buying.
Good streets, bad streets
Regardless of how great a place may seem when you visit it, every city, suburb, and town has good streets and, well.. (how shall we phrase this?) less appealing areas.
When you rent in an area before buying, you get to known which streets are which, and that sets you up for a better purchasing decision in the future.
Traffic flow
If you haven’t lived in an area before, it can be hard to understand that region’s nuances.
For example, does traffic back up in specific areas at peak hour? Would that potentially make it hard to get to and from work or back and forth from the key places you’ll be spending a lot of your time?
Available amenities
Yes, it’s easy to Google locations and get a feel for the local amenities that are situated there.
But nothing beats experiencing those amenities first before you dive right on in and commit to a long-term strategy of buying a home there.
As we all know, regions can grow or change, meaning that Google search might be far different in reality, and there could be better locations in that vicinity where you ultimately choose to invest your money.
Acclimatisation
Perhaps you’re moving from a hot area to a cold one, or maybe your new location will be more humid than you’re used to.
Renting in the new area gives you a feel for what the climate’s like and what you need in a house to manage that– whether it’s air-conditioning, outdoor entertaining areas, a swimming pool, central heating, or a modern property with great insulation.
Change of heart
As much as this relocation is exciting now, what if it’s not the place for you? When you rent in a region prior to buying, you get to make a considered decision about whether this is a place you’re willing to commit to.
It gives you the flexibility to leave when you wish, without the needing to sell a property to do so.
In other words, renting gives you an insight into an area, what it’s like, which streets are nicer and whether the amenities are likely to suit your lifestyle needs. And then, you’re in a great position to buy.
How we can assist
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
