How to Choose the Right Apartment for Your Budget
- Spend between 30-40% of your income on rent. This will give you more cash to save, invest, or spend on clothing.
- The longer the lease the cheaper the rent. A 1 year lease is generally cheaper than a 3-6 month lease.
- Make sure you understand what the lease covers. Do you have to pay for water, gas, electricity, phone, internet, or cable. All these little costs add up to big bucks. You may want to consider asking the property manager how much you should expect to pay in utilities.
- Does the apartment fit your needs. Is it too big or too small. A larger apartment will cost more. But a smaller apartment can feel cramped. Also, look at the floor plan, do you like the way it "flows." Is it functional for your lifestyle.
- How close is the apartment to your school/workplace. If you would like to take public transportation, how far is it from the nearest bus/train stop. How long would it take you to walk to campus. Does the apartment have enough parking spots.
- If you’re a pet lover, can your best friend live with you. Sometimes an apartment that states “no pets allowed” will make exceptions for smaller animals
- Location of the apartment. Is it on a first floor where you will hear a lot of foot traffic. Is there someone above you. Does the complex have a reputation of being noise or throwing parties.
- Amenities, do you have a hot tub or pool. Is there a BBQ area where you and your friends can hang out. Is there onsite laundry.
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