Renting: How To Do It On A Budget

Finding the perfect apartment is never easy, but it can seem downright impossible when you’re on a budget. In addition to paying rent, you also have to think about the upfront costs of moving somewhere new. However, finding somewhere suitable isn’t entirely possible. Here are a few steps that could help you to find your perfect apartment.

Know What You Can Afford

There’s no point in starting your search until you know what you can afford to spend. What are you currently paying and is it manageable? How much can you afford as a deposit? You also need to think about the money you’ll spend on utilities, food and other expenses. If you’re moving out of the area, your expenses may change. For example, you may need to pay more/less for transport to and from work. Working out exactly what your budget is will give you the best foundation for starting your search.

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Non-Negotiables

What do you need your apartment to have? Make a list of all the things you need in an apartment. For example, two bedrooms could be essential for you, but having a washing machine built-in may be something you’re willing to overlook because you’re used to taking your washing to a launderette. There will be things you need in an apartment and things you would like in an apartment. Make sure you look for the things you need above the things you want.

Start Early

If you know you’ll need a new apartment in the next few months, it’s wise to searching as soon as possible. Don’t leave it until the last minute when you’re on a budget. Be willing to look outside of your current area, even if it means traveling further to work. One of the best ways to find what you’re looking for is through an agency that works with different apartment buildings, like STL CityWide. That way, you have a broad range of apartments to choose from and you can secure your chosen apartment as soon as you’ve seen one you like.

Start Saving

The earlier you start saving, the more prepared you’ll be for the upfront costs. Many landlords ask for first and last month’s rent, security deposit, application fees and more. The initial steps of moving into a new apartment can be highly costly. So, if you start putting something away every month for a few months leading up to your move, you shouldn’t feel the sting as badly.

Don’t Go Over Budget

Realtors and landlords will inevitably show you apartments that you can’t afford, and many people fall for it because they look much nicer. And, let’s face it, we all want to live somewhere we can’t afford. Don’t be tempted into signing for an apartment that you can’t afford. You may get to live in prettier surroundings, but your finances could keep you up at night. Stay on budget and work on climbing up the property ladder in time.

When you’re finally in your new apartment, continue to save for your future.

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