6 Tips For Finding Your First Apartment On A Budget

By Author: jessica0329
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Finding the first apartment is a rite of passage. It can be both incredibly exciting and overwhelming, but you're not alone: 34.7% of U.S. renters are under 35, and thousands and thousands of people make a leap to living on their own every year.
To help make that leap a little less overwhelming, follow these tips to find your first apartment.
1. Set the budget you have:
First of all, you have to find out, "How much apartment can I afford? “As a guideline, your rent should be about 25% of your pre-tax income, though you'll probably need to pay more in cities like New York or San Francisco. (Take a look at the user-friendly rental calculator on Spoter, a free rental listing website). Some places will include utilities like water and electricity, and some won't, so be sure to pay for those expenses as well.
Stick to it once you know the price range. Yeah, the high-rise loft with a rooftop pool is amazing, but don't torment yourself by looking at it if it's not in your budget. (Perhaps this could be your next apartment). Also, once you actually sign a lease, you will also need enough money to cover your ...
... first month's rent and a security deposit–normally a month's rent. Staying within your budget also might require you to find a roommate or two.
2. Location
Pinpointing where you want to live is perhaps the single most important decision you need to make when you set out to find your first apartment. Consider proximity to expressways and/or public transport, the distance from your job, and the overall vibe of the neighborhood. Location can also have a big impact on costs.
For example, the farther away from the city center you're going, the more bang you can get for your buck, but that could also lead to longer journeys and more transport costs. Look at the average price of each neighborhood you're interested in, so you can see a good deal.
3. Make a list of must-haves and nice-to-haves
You know your plan and what you want to do in your apartment now? It might be good to have in-unit washer and dryer, but you're going to settle for laundry facilities in-building. Have you got a cat? Then it is a must-have a pet-friendly home. Often, talk to your future roommate(s) about everything to make sure you're on the same page. It is important to remain flexible, but making these lists will really help you narrow your choices.
4. Know the rental climate
Are the rent prices going up? Are there limited options in certain locations? Looking for your town's rental market before you use the many apartment-finding resources at your fingertips— websites like Spoter.us, Craigslist, leasing agents, friends, family, co-workers — will help put you in the right frame of mind for your search. You can have hundreds of potential places or slim pickings may be found. Going with the flow is the most important thing.
5. Ask questions
Things like number of bedrooms, utilities included, and parking are usually listed on the front, but there's other important information that could be deal-breakers or tie-breakers in your final apartment choice. Don't be afraid to ask your potential future landlord a lot of questions before you sign a lease, such as:
What is the average monthly cost for non-rental utilities?
* What security features are there (i.e. cameras, building outside locked doors)?
* What is the lease renewal process?
* How long does repair take and who does it?
6. Set realistic expectations
The perfect apartment "can be hard to find, and the odds are, your first time out, you won't find the perfect apartment. But that doesn't mean that you can't find an affordable place in a good location with most of your must-haves and some of your nice-to-haves. Also, know these things take time, so be patient. It might be tempting to rush into something, so try to avoid that temptation and take enough time to make a wise decision you feel comfortable with.
Basically, the advantage of renting is that you are not forever tied up, so lower the pressure on yourself to find that "right" spot. Remember: once your lease is up, if you're unhappy you should look for something else – and the second time you're going to be an old pro.
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