A Guide to Getting Into Your First Apartment
First of all, before you can even start the process of looking, you need to create a budget. Make sure to ask your parents help or friends who have lived or are currently living in apartments. Do some research as well. You need to figure out how much you make in a month, and how much you can afford to pay in bills each month (remember to include phone, cable and internet if you want these things). When it comes to guessing what utilities will cost, you will never know for sure. However, get the most information from company websites and parents and friends and make your best guess (it is better to over-guess than under-guess). Leave rent for last, to figure out what you can feasibly afford. Also, don’t forget to include car payments, student loan payments, gas, food and any hobbies or other activities that cost money that you do on a regular basis. Also, think about renter’s insurance, which you will need to purchase once you move into a place. When it comes to figuring out how much you can spend in rent, also keep in mind how much window room you want. Do you want to save $50 a month? Do you want $100 leeway in case an emergency arises? Don’t use the rest of your money strictly for rent.
Once you have a figure for how much you can afford to pay in rent a month, it is time to start looking. Driving through the town you may want to live in will find you some apartment buildings. Websites like www.forrent.com and www.apartmentguide.com have searchable listings for almost every area in the United States. However, if researching online be cautious of all rent figures. Oftentimes the figures will be more once you talk to someone in the leasing office, especially if the listing hasn’t been updated in a few years. As you’re looking for an apartment keep location, cost and size in mind. See each place and tour each apartment complex. Make pros/cons lists to make the best decision for you. Make sure to ask for monthly specials especially in larger complexes. If you find you can’t afford any rent in your desired area, consider taking on a roommate. However, make sure that roommate is someone you can trust financially.
Once you choose a place, make sure you know what you’re getting into. Read your lease carefully. If anything sounds weird or doesn’t sit well with you, talk to the leasing agent. Don’t be afraid to voice questions or concerns and if you’re not 100% satisfied, do not sign the lease.
As for actually moving in, there are a lot of things to keep in mind. First, renter’s insurance is extremely important. While the apartment complex insures the building itself, your belongings will not be covered if anything happens to them. If you have a TV, computer, or any expensive furniture, you will really want to look into renter’s insurance.
Sticking to your budget is going to be an important part of living on your own. More than likely, once you move in you will realize your budget needs tweaking. Changing parts of your budgets is perfectly okay (if it’s reasonable change), but make sure to have a budget and to stick to it. Especially if you are living alone, blowing your budget out of whack will be extremely hard to overcome.
When it comes to being financially responsible, organization is key. Whatever method works best for you will be the right one, however make sure you have a method. A place to put bills when you get them, a schedule of how to pay them, a method of marking what was paid when. Keeping the necessities organized will save you missed bills, stress, and more payments that you can’t afford.
When it comes to furnishing your apartment, especially if you’re on a strict budget, hand-me-downs will be your lifesaver. Your parents may want to get rid of a few items (especially if they want to turn your room into something else!). Ask other family members to be on the lookout for items they don’t need. Garage sales (especially in upper scale neighborhoods) can also be a good source of cheap but durable items.
Above all else, when moving out on your own, you’ve got to be responsible. Follow the rules of your apartment complex, be as frugal as possible, and enjoy your freedom intelligently! It’s easy to get caught up in the independence of the experience, but if you can’t take responsibility for your actions or finances you will be back home with Mom and Dad before you know it.
