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Millennials Looking For Homes for Rent in Clarksville TN: Tips for First Rental

Renting your first home is a major milestone for many Millennials in their 20s and early 30s. According to a recent article by Aljazeera America, most Millennials can actually afford to buy homes but choose to rent instead. When looking for homes for rent Clarksville TN, many young adults are pleased by the wide variety of options at different rental price points. Experts say the share of people buying homes who are first-time homebuyers has reached a 30-year low. Research by the Harvard Joint Center for Housing Studies revealed Americans between 25 and 34 can afford homeownership in more than half of major cities. Experts say many young people live in multi-generational homes with extended family members. For young people ready to break out on their own and rent a home, there are some tips they can follow to make the process easier.

 

Browse for available properties

Before even browsing online for available rental properties, write down your “wish list” including non-negotiable features. If you are a pet lover, you may write down that you the home must allow for pets. If you are an outdoor person, you may have balcony, porch or yard high on your must-have list. Prioritizing your needs can assure you are happy with the rental home you choose to live in for a year or longer.

Figure out your budget

Another factor to consider is how much you can afford to spend as well as how much you are willing to spend on rent. When applying for a rental property, you’ll have to show your two most recent paystubs as well as a photo ID. Most experts recommend spending no more than 30 percent of your income on housing although many people are spending at least 50 percent of their income in many places around the country. According to an article by the New York Times, half of renters in the country spend more than 30 percent of their income on rent. One of the reason homes for rent in Clarksville TN are in demand is because the prices are still affordable.

Getting your first rental can be extremely exciting. While some Millennials opt to live in condos, townhomes or apartments, others prefer the cozy environment of a single-family home. For those with young children, homes typically offer more bedrooms and square footage as well as yards and nearby playgrounds.

Millan Enterprises is a locally owned and operated residential and commercial real estate company. Our main office situated in Clarksville, TN. After filling out an application form to rent out a single-family home or townhome, we will promptly process your application and inform you of the outcome. For more information on homes for rent in Clarksville TN that meet your criteria, please contact us.