Affordable Accommodation: The Statistics

Statistics show that nearly 70% of property buyers and those moving into new spaces are young professionals and only 30% are family buyers. The fact is, most moving are new to the market and renting is often the more convenient option before committing to buying a property. If you’re looking for affordable accommodation, this article might be for you.

As young people are moving out of homes or university residences into their own space for the first time, there is a lot to bear in mind before choosing an apartment. Without a checklist of what to look out for in rental accommodation, it can be overwhelming to remember the most important things to consider.

What to think about when choosing new accommodation:

Consider your budget and accommodation price

Money for most young professionals is the biggest obstacle to deter them from renting their dream apartment immediately. It’s important to consider how big your budget is to be spent sustainably on rent (without going into debt) while leaving enough to cater to other basics and luxuries for the rest of the month. A basic rule of thumb is to spend no more than around 30% of your salary coming in (after tax and other deductibles) on rent.

If you are looking at apartments above your range, you risk the disappointment of falling in love with an apartment without the capacity to afford the rent. When looking at renting accommodation, look in your budget frame and consider whether you can afford the initial deposit, and then the monthly rent, food, and still have money left over for other necessities.

Look at the location and amenities available

Where you want to live is a huge factor in choosing your accommodation. Make a list of non-negotiables of what you want in the location where you live. This could be that it is near your office, but it might also include what kind of basic facilities you’d like in your area. This includes gyms, shopping malls, or entertainment.

Live Easy Nano-units have been developed to offer the ideal location for young professionals; offering tenants an affordable place to live in a well-situated area for work. The Nano-units are also designed with convenience and comfort with workspaces, gyms, laundromat facilities, canteens, leisure areas, and DSTV-Plug-and-Play on offer.

Consider the security in the area

In South African cities, safety and security is a crucial factor in choosing accommodation to rent. You want to feel safe where you live, so make sure security is a priority in your area. Consider whether there is security staff in the area or neighbourhood watches that offer a degree of protection to the homes. Many apartments have security at reception, which adds a level of peace to leaving your space when you’re out as well as entering your accommodation at night or early in the morning.

With 24-security and CCTV at Live Easy rental units, tenants can enjoy peace of mind knowing that security is a top priority.

Look at the storage space

When looking at units, consider how much space you need to have for your belongings. You might need to rent storage space if you have more than can fit in the apartment space. Nano apartments are designed to be incredibly efficient at saving space while offering plenty of storage space to renters. This makes the accommodation both affordable and space-savvy.