Buying a home can be a great investment, but only if you are physically, emotionally, and financially prepared. Therefore, many people consider renting either an apartment, condominium, or actual house. Of course, in one given area, narrowing down your search for the perfect rental home can be a bit overwhelming. This guide will give you a few simple tips to help you find the perfect rental home.

Know What You Can Afford

When you are buying a home, a mortgage company will utilize your income, credit report, and expense statements to determine how much home you can actually afford. Mortgage companies and lenders are not involved when you decide to rent, so you may not know what you can realistically afford to pay in rent.

On average, most experts recommend spending no more than 25 percent of their income on housing. This ensures you have enough to pay you rent and basic living expenses, such as utilities, insurance, and groceries.

Remember that there are some landlords who have strict income guidelines, too. For example, the owner of one home may not permit you to rent the property unless you make over a certain amount of money.

Location is Always King

If you know anything about real estate, you should know that location is king – even when it comes to rental properties. Houses, whether for sale or for rent, will be more expensive in more desirable areas, so you will need to decide whether location or price is most important to you.

Keep a few things in mind when deciding on a location for your rental. If you do not have your own transportation, your rental should be within walking distance or on a line of public transportation, allowing you to get to and from work or school with ease.

Consider Amenities

Amenities are also important, since they can cut other living expenses. Consider a property within a neighborhood that has a community center. These centers are usually equipped with a pool, gymnasium, tennis courts, basketball courts, and even a community area for social gatherings.

If you are paying for a gym membership, having one in your neighborhood can help you save money per month, making your rent easier to pay.

Other amenities you may want to have include trash pickup, daycare facilities in the community center, and even a playground or walking trails.

Renting can be a great option, but proper planning and research are necessary. This guide will help you find the right home to rent.