Renter’s Needs vs. Wants

When you’re looking for the right rental unit, it’s important to understand your needs and wants before you start your search. This helps you target properties that fulfill what you’re looking for and saves you valuable time.

Remember that needs are what you must have to live safely and comfortably. Wants are things that are a “bonus” or that make life a little nicer.

Start With a List

Making a list can help you shop around more effectively.

Here are things to consider:

• Price
  Decide how much you can afford to spend on rent each month. With a Spending and Savings Plan in place, you’ll know the right amount for rent alongside the costs for utilities, insurance and other bills.
  
  
• Size
  ​Everyone wants the most space possible, but your price range may dictate where you end up. Use square footage to compare places and keep in mind that larger units may mean higher utility bills.
  
  
• Number of bedrooms
  When you add more bedrooms, you add more to your rent. Figure out what you can live with on a day-to-day basis. Not everyone will be able to have a guest room or an office space.
  
  
• Location
  ​This is a personal choice, but some areas or neighborhoods are more expensive than others. Make sure to consider the time and costs to commute to work or school as well as proximity to services such as grocery stores, public transportation or recreational areas.
  
  
• Pet friendliness
  Most rental units have a pet policy. If you’ve got a furry friend, make sure you know all the details including pet rents, pet deposits and damage fees.
  
  
• Outdoor space
  Whether you simply like to entertain or need space for children to play, outdoor space can be high on the list of priorities for many renters. Keep in mind a yard may come with added responsibility, such as lawn care.
  
  
• Laundry facilities
  Do you own a washer and dryer and simply need to find a rental that offers hookups? Or do you want to live in an apartment complex that offers an on-site laundry area?
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• Parking
  Where you park your car and where your guests can park should be considered. Some rental units may come with restrictions or limitations on parking.
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• Desired moving date
  Time constraints may limit your options. Before you start your search, know your desired move-in date and whether you have any flexibility.
  
  
• Other details
  ​Do you prefer carpet or a hard surface such as wood? Do you need central air conditioning? Is it desirable to have extra storage space or a pool? These are some questions that can help guide you to what rental unit fits best for your needs and wants.

Learn all about renting by signing up for our free renter education class!