It's normal to be intimidated if it's your first time moving out. Whether you're making a jump from a dorm to the apartment or moving out of your parent's house, moving into your first apartment is one of the most exciting parts of your life. It comes with plenty of new information you need to consider.
If you're a first-time renter, moving out is really a big deal. You are on your own now, and you can do whatever you want. But being on your own comes with a whole lot of responsibilities such as paying for the services, which you didn't do before. There are a lot of other things you need to know as a first-time renter. Here are some tips for first-time renters that can help you get through all the phases of being a renter.
1. Put together an apartment budget
Putting up an apartment budget will be a great help because it will allow you to save money for your first apartment. It would be great if you continue your budget plans after moving in. It will improve your savings for utilities, rent, home décor, and other stuff.
As much as possible, avoid spending more than what you can afford on rent. You can try the 50/30/20 budgeting technique. This will allow you to save for the first month's rent or security deposit.
Don't forget to include all your monthly expenses including unexpected costs in your budget.
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2. Decide whether you want or need a roommate
Renting can be expensive, particularly in urban areas. If you think the rent is too expensive, consider getting a roommate so you can split the rent costs. Before you look for a roommate, you should first consider what you are searching for in a housemate. Also, be ready to compromise.
Knowing the pros and cons of having a roommate will help you decide better. Take note that looking for a housemate is a tough task. You need to ensure you two are compatible in terms of pet preference, schedules, cleanliness, welcoming guests, and partying.
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3. Be strategic about your search
You'll be able to save money if you figure out the best time to look for an apartment. Rent prices change seasonally. For instance, you can score a great deal if you apply for an apartment during winter. It is because, during that time of the year, rental housing demand is at its lowest. It is when landlords find it harder to fill vacancies.
Also, take note that looking for an apartment may take you months. So, it's ideal to start searching ahead of time.
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4. Don't hesitate to ask questions
Before you sign a lease, ask as many questions as possible about the rental. You can list down the most important questions you need to ask when renting an apartment. Be thorough and specific. Ask if there is anything that needs fixing in the apartment before signing the lease.
5. Prepare all the necessary paperwork
Most property management companies and landlords require their potential tenants to provide certain information with their rental application. It may include rental history, credit score, income proof, personal references, and past landlords.
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Before you start searching, be sure to read articles about the different forms needed to rent an apartment and the entire apartment application process.
Aside from the things mentioned above, it would be best to prepare a checklist of essentials you will need to buy for your first apartment. This will help you maximize that great experience in your apartment. Just don't forget the additional responsibilities.
