A big step in the life of every young adult, taking the step and going your own way, renting your first apartment can be confusing, intimidating and downright difficult. Your first apartment will be a learning experience and, with the right perspective, fun!
Most experts will tell you when looking for an apartment for rent; the rent should not exceed 25-30% of your annual income. While you may be dying to move into that luxury two-bedroom apartment, you may not be able to afford it and there are many factors to consider.
Smart budget
Making a realistic budget for your new apartment and finding one that meets your needs is key. Take the time to examine what your exact income is after taxes and subtract your expenses. Include groceries, household items, phone, auto payment and insurance, credit card bills, clothing, gas, Internet, health care, school loans, entertainment, and an additional category for “miscellaneous” for those unexpected expenses. What you have left is the rental budget for your new place. Some management companies, such as 1st Lake Properties, Inc. include a flat fee for certain utilities per month, others you may need to pay separately. Keep this in mind when considering monthly expenses.
Don’t be shy, flush the toilet
Finding that first apartment can be a long and exhausting process. Your new home should be comfortable and tailored to your needs, but within a realistic budget. Compromise is necessary, but don’t settle for a substandard apartment because you feel exhausted. Make sure you get a real tour of the design you choose. You should never move into a rental apartment before at least touring the community. It is very useful to see the layout of the apartment, as it gives you a good idea of where and how much furniture you can have. Sometimes the actual apartment is not available to view, in these cases it is better to see an interior to see the accessories and finishes.
Turn the knobs, open and close the doors and open the windows. Do you receive cell phone signal inside your apartment? Don’t be afraid to try all of these things when looking for potential apartments. While it may seem uncomfortable, it is a very necessary step in making sure your new home is right for you. When touring the apartments, ask as many questions as you need. You should be happy and comfortable and the tour should be a good experience.
Leasing of items to consider
Once the hard part is over and you’ve decided on your new first apartment, take the time to read the contract cover to cover. Since this is your first time renting, you are probably unfamiliar with the legal jargon, try to familiarize yourself with it before showing up to sign the lease. Don’t be afraid to take the time to review the details and ask the agent about any questions or concerns you may have. Sometimes a simple clarification can give you great peace of mind.
If you’re not sure what your long-term future plans might be, ask about the possibility of a short-term lease. Everything from repainting the walls to what kind of roommates you can have is usually covered in the language of the lease. Reading the fine print can make a big difference.
Rent comes first
Without a place to call home, your other expenses could go out the window, too. Make sure to prioritize renting above all else when payday arrives. If money is tight, try cutting back by seeing what expenses you can reduce or completely eliminate from your expenses. If you have a cell phone and you don’t use your home phone much anymore, switch it to cell phone only. If you are going out to eat too much, try cooking at home to save money. There are always solutions to cut your expenses and help you make ends meet.
Enjoy it!
Renting your own place for the first time can be exciting and perhaps stressful. If you take the time to make sure your apartment and lease are right for you, budget your expenses, make sure your utilities are open, and plan for the unexpected, transitioning to this new step in your life should be a pain. simple and fun process. .
