Factors To Consider When Renting A New Apartment

Posted on: 8 January 2016


If you are like many people who are searching for an apartment, you probably intend to rent for a year or longer. This is a long time to live in an apartment that you are not completely happy with, so it is important to make your decision carefully. Here are some tips that can help you find the best apartment for you.

Local Amenities

As the saying goes, the three L's of real estate are location, location, location. While most people take the time to visit a few points of interest in the local neighborhood, there are a few amenities you should look for that are easy to forget. 

If you will be looking for a local job in your new town, consider how accessible public transportation will be from your new home. Taking public transportation to work can save you significantly on fuel and reduce the daily wear and tear on your vehicle that eventually requires maintenance or expensive repairs.

While they are not a source of entertainment like bars and cafes, grocery stores and medical facilities are very important parts of any community. Knowing where these areas are located and how quickly and conveniently you can get to them should play a significant role in your apartment search.

Cost vs Total Income

Just because your total income is higher than the total of your rent and other bills, does not mean that an apartment is a fit for your budget. There is no way to determine beforehand exactly what you will need to spend each month, so dedicating a set portion of your income to unforeseen expenses and variable bills is essential.

As a general rule of thumb, consider apartments that cost no more than 25 to 30 percent of your income in rent. This gives you a good chance that you will never be short on your rent payment even on the most difficult months.

If you are moving to a new state or even just to a larger city, the cost of living in your new neighborhood may be higher than you expected. It is a good idea to do some research on the cost of groceries, gas, and other needs in the area you are living to, and then apply these prices to a list of items that you already buy on a monthly basis. The resultant sum will give you a much better idea of how far your income will go after you move.

Choosing a new apartment should never be a rush decision. Use these tips and visit several apartments before you make your final decision so you have the best chance of finding an apartment you will love.