Before you start looking for a rental home create a budget
Many experts say that you should spend 30% at the max of your salary on your rent. There is also the 50-30-20 rule, 50 % is spent on your needs (home and taxes included), 30 % on wants, and 20 % on investments and savings. Now, these are all rules but you have to understand that there is no one size fits all when it comes to this. So it depends upon more things, your job (salary), where you want to rent, what you expect, etc. Maybe the most important factor to consider is what do you want? Since some people would look to spend as low as 10% to 20 % of their income while some will spend up to 50% on their rent. Now, these are the parameters that you need to determine:- What rental do you want?
- Can you afford that rental?
- Create a sustainable monthly budget