While summer is typically a time for relaxing and taking a break, for those of you making the move from home to your first flat in time for the New Year, it can make for a very stressful time. If you have no idea where to start, follow our first-timer’s guide to be sure you have a firm grasp on everything you need to know so you can get your move sorted quickly and get back to enjoying the summer!
Underestimating costs is the most common hiccup for first-time renters. Calculate expenses within the time period of your pay (e.g. if you’re paid fortnightly, calculate your fortnightly expenses) to get a clear idea of exactly how much money you’ll be leaving yourself with for extras like socialising and saving.
Start with a ballpark rent figure, the type of place and location you’re looking for and remember to factor in upfront payments like your bond and usually four weeks’ rent.
You can also use our electricity plans page to calculate what you could pay for gas and electricity in your new house. Then add on any extras you won’t want to live without like internet or television subscription services.
Finally, look at what’s left and really consider whether it will be enough to cover the cost of food, any laundry bills, your social life and savings.
Prioritise and search
For some people, location is everything. Others can’t budge on budget. And for some, having a space and light-filled living area is what will ultimately make them happy on a day-to-day basis.
Signed, sealed, delivered
First-time renters often fail to take their lease seriously. The lease is a legally binding contract that spells out all your rights and the rules you must abide by while living in your new home.
Make sure you understand all the basics (like the length of the lease, the rent due and the bond) then look out for any additional clauses and penalties, such as which utilities (if any) the landlord pays for and protocol for any breakages or damages.
Once your lease is signed, contact us to help connect your utilities then get packing!