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WHAT YOU SHOULD THINK ABOUT WHEN RENTING AN APARTMENT

WHAT YOU SHOULD THINK ABOUT WHEN RENTING AN APARTMENT

Posted: Sunday October 10, 2021

Once you’ve decided it’s time to move out of your parents’ house and into your first apartment, all that’s left to do is find the perfect pad. 

But wait…

That’s not all you need to do. While you may be in a hurry to make the transition, there are a few things to think about before heading out to begin your search. To help you be better prepared for the transition, we’ve put together a list of things you need to consider when you decide it’s time to move out. The more you figure out beforehand, the less likely you’ll be to make costly or time-consuming mistakes later on. 

FEES UPFRONT

Moving into a new apartment is expensive. You’ll need to pay more than just your first month’s rent to move in. Count on having at least two month’s rent payments in the bank to cover things like application fees, security deposit, and a month’s rent before you even move in. 

THE COST OF LIVING ON YOUR OWN

In addition to paying rent, you become responsible for many other expenses as well when you rent an apartment. There are utilities such as gas, water, electric, and Internet; as well as renter’s insurance, groceries, gas for your car, and more. As a general rule, your rent shouldn’t exceed more than a third of your income. 

THINGS THAT MAKE YOUR APARTMENT A HOME

Since this is your first time away from home, you probably don’t have all the comforts that make a house a home. Things like furniture and household necessities that make life convenient. Towels, dishes, a couch and a couple chairs – these are all things you should consider getting right away. And unless you like being tied to delivery and takeout for every meal, make sure you get cookware, too. 

TIME TO PURGE

If you take every single item you own from your childhood home to your new apartment, it will feel more like home right away. However, it will also make it more difficult to keep the space uncluttered and neat.

Use this time to get rid of things you no longer need. Purge the childhood things you can and store those you can’t, but don’t move them into your new apartment on a sentimental whim. 

READ AND UNDERSTAND THE LEASE

The lease will likely be the first legal document you have to deal with. It’s important you learn how to read legal documents, so you understand what you’re getting into before you sign. Be sure you read the lease in its entirety and don’t be afraid to ask questions about things you don’t understand. 

If you need more time to look it over, ask the landlord for a couple of days to go over the document. Ask a trusted friend or family member to go over it with you so you’re sure you understand everything it says. 

Renting your first apartment is as exciting as it is scary. If you’re prepared beforehand, the transition from home to your own place will go smoothly and sans surprise. 

This blog is sponsored by Property Spark.


Regina Real Estate Blog

Interested in Buying a new home or Selling your existing property? Not sure where to start? Below you'll find articles tailored to give you a hand with many different tasks involved in the process.

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