The emancipation of the new generations is an issue that continues to attract great attention from society, since it does not seem to bring good news with it. In fact, the rate of young people who continue to live with their parents continues to rise.
Only 20.8% of young people live on their own
According to the date of the report published by the Youth Council of Spain (CJE), only 20.8% of young people between 16 and 29 live on their own. In addition, following the date in this report, it seems that young people face many difficulties to become independent from an individual home, so 84.3% of those who have decided to leave the nest have done so through shared apartments with several persons.
There are several reasons that generate this situation, among others, the increasing difficulty of accessing the real estate market (due to the continuous rise in prices) and, above all, due to the complicated economic and labor situation in the country. Thus, for a person who does not have enough financial resources and, in addition, what he is looking for has an increasingly high price, it becomes a very difficult goal to meet.
What do you need to rent an apartment?
Given this perspective, it is difficult to decide to hatch and begin an individual journey assuming all the responsibilities and expenses that this implies. In fact, having so many, it is essential to take into account all the difficulties that must be faced when renting a flat.
Requirements to rent a home
In the first place, the requirements that will be demanded as a tenant must be taken into account, either by the real estate company or by the lessor. Generally, they will ask for payroll to confirm that they are working and that they receive a salary high enough to take care of the rent.
Rental management expenses
Secondly, special attention should be paid to the management costs that will have to be post. On the one hand, as a general rule a month deposit will be required when signing the contract that will have an amount similar to the monthly rent of the house. In addition, for two years, you must also have the Property Transfer Tax, which will vary in price depending on the autonomous community where the house is rented. On the other hand, we must not forget any other expenses that may be included, such as home insurance, community expenses, etc.
Is the flat furnished?
In addition to all this, it is convenient to find out if the apartment to be rented is furnished or empty, or if it is in optimal conditions or not. That is, if you have enough utensils and appliances to start living there. If this is not the case, you should calculate the possible expense to buy everything that is needed.
What aid exists for finance the rental of a home?
Although the picture may be quite dark in color, there is no need to worry, since there are certain financing options that can be used to rent a house, especially during the first month. In this way, several personal loans can be requested to cover all expenses of the rental principle, although certain basic knowledge will have to be mastered to know which one to choose and what aspects to value from each.
In general, it is important to pay attention to the cost of credit, within which interest will be included, and also in the possible commissions and linkages. To do this you have to look at the APR (Annual Equivalent Rate). In addition, it is also important to choose the repayment term as well as that you have the ability to return the money in each installment without unbalancing the economic situation and without the time being too long, since more time, more interest.
Of course, first of all and as indicated by the GetMyCash credit comparator, it is important to know that, if you decide to apply for a loan, avoid borrowing if you do not have the security of being able to settle said debt.
Taking all these aspects into account, you can get a loan that allows you to have enough capital for a young man to be emancipated, at a good price and returning it in comfortable monthly installments.