Choosing a place to reside can often be an overwhelming experience especially with so many options to choose from and so many factors to consider. Whether you are shifting places or you’ve just decided to exercise independence to live on your own, you should carefully define your preferences to get the full understanding your choices before shopping for a house. Typically, when working on a tight budget and you can’t afford to buy a house, you are perhaps left with only one solution, that is to lease. According to a survey by Fannie Mae, more than 50% of the renter respondents affirmed that they prefer rental apartments because it’s within their budget and less demanding.
However, finding the right apartment based on your specific needs can be difficult at times. While buying a house is expensive, renting an apartment has its own cost implications, right from the monthly payments and other rental associated costs. So before signing the lease contract, there several essential elements that you need to take into consideration.
Budget
You wouldn’t want to move into your new house and move out almost immediately even before the contract cools off. Therefore, set your budget to determine exactly how much you are able to pay but don’t exceed the 30% rule of your income on housing. Narrow your search based on your budget and if at all you find a highly priced apartment in a good neighborhood, make sure you are comfortably able to meet the cost. When looking for an affordable apartment, it’s important to ask the right questions like what amenities are there and if they are inclusive of the rent. Will you be charged for utilities and amenities? In case of repairs, who’s going cater for that. If your landlord is willing to negotiate, do so to try and see if you can secure a reasonable deal for your budget.
Looking for a rental apartment but you simply can’t afford the entire package that comes with it? Try sharing rooms with other people. Although this sounds like a bit too much, it’s probably the cheapest housing option you can get. The cost of renting an apartment is equally shared among the group, so the more roommates you have, the lower the per person.
Location
Generally, most apartments are often situated in nicer locations accessible to special amenities such as banks, schools, medical centers, entertainment spots. The location is one of the paramount factors when looking for an apartment. Amenities aside, it’s wise to find a rental apartment near your place of work, this will not only offer you flexibility and convenience, but it’s also cost effective having to commute on daily basis. After a long busy day, you’d want to retire into a quiet environment where you can relax. In addition, find a place that ensures your privacy, security and offers tranquility.
Style
While there are so many apartments for renting, you need to mind your taste and preference. Not every apartment allows tenants to decorate and install new features. There are some that you have to maintain its original condition, and when you leave, that condition must be intact, otherwise you’ll be forced to cover the cost of repair. But you can find an apartment that allows customization so you want to style up your space to reflect your personality as well as creativity. On the other hand, instead of incurring costs associated with modifications, choose an apartment that fully suits your taste. On that note, make sure the apartment you are moving in allow pets inside them. Avoid last minute disappointments by consulting with your landlord on the do’s and don’ts.
Apartment living can be an exciting phase in your life, particularly when you find the right place. With these factors in mind, you can rest assured to secure an apartment you are proud of. However, approach the search with a lot of caution and don’t rush into making a decision. There is always a better rental apartment waiting for your somewhere.
