7 Tips to Consider When Apartment Hunting

Apartment hunting is a heck of a process for anybody, whether you’re a fresh high-school graduate going away from home or moving for work-related reasons. There are plenty of things to consider when apartment hunting, but there should be a few things high up on your priority list. Today, let’s talk about the things you should be looking at when apartment hunting, and what’s best for your particular situation.

Scout the Neighborhood

Where your apartment is matters just as much as the apartment itself. When looking at apartment prospects, try and visit the neighborhood. See how many shops with essentials are nearby. If you’re moving for work or school-related reasons, make sure that it’s at the very least a short car ride away. Optimally, the walking distance would be best if possible. As for what “essentials” are, these would be things such as:

·         Groceries

·         Restaurants

·         Public Transportation

·         Laundry

·         Bank

·         Your place of work/school

Note Your Essentials

Speaking of essentials, take note of the quality of the essentials near your apartment. It’s good if you are close to them, but make sure that they are reputable. In addition, check the apartment building itself for its essentials. Always contrast and compare as some apartments can be more expensive if they provide more essentials in their building, such as laundry and a convenience store. Amenities within the building may cost more, but the convenience and safety of an in-house place for essentials could work if that particular apartment fills all the other qualities on this list.

Lastly, check if the cell service there is decent. Some places have poor signals and could be a cause for concern.

Look for a Roommate (or don’t)

A roommate is something you have to think hard about as it has its fair share of advantages and disadvantages. If living alone is too costly, try asking any of your friends first if they are willing to room with you. If nobody is available, try putting out an ad looking for a roommate and screen them accordingly.

Remember, you’ll be living with them for a while, so do not take this option lightly. Saving money cannot pay for the stress involved in a roommate you can’t live with. Alternatively, just look for another apartment if it’s already making you consider getting another person just to split it with. Sometimes, a new apartment is more convenient than a new roommate.

Schedule a House Visit

Once you’re set in an apartment, always do a physical visit to the place. Take care to look into every nook and cranny of the apartment. Having a property manager or real estate agent with you would be helpful as they can provide you with their expertise. Before your physical visit, you can even have a real estate virtual showing with your agent. This can be done via video call or a series of in-depth pictures of the apartment’s layout.

Save Up for Upfront Costs and Long-Term Costs

Rent is certainly a concern, but upfront costs should also be taken into account. Before you even pay rent, you’ll be paying for things such as a security deposit and assorted application fees. Some landlords even require the rent for the first few months upfront as security. A lot of money will be changing hands before you even start living in your apartment.

Once that’s ready, start looking at the long-running costs. Rent will be the primary expense, but remember that basic utilities such as electricity, gas, water, home repairs, and maintenance could be considered separate from the rent itself. In addition, other luxuries such as the internet should also be taken note of.

A good practice before buying an apartment would be saving up at least a year’s worth of rent money. Make sure the savings apply to the average rental cost of apartments in the area you’re looking to live in.

Thoroughly Prepare Your Paperwork

Paperwork can be a stressful process for those who go in unprepared for it. Do your research online for what paperwork the apartment requires and see if you’re up to date on them. It will always involve some form of government-approved ID as well as a report of your financial situation. Recent paychecks, bank statements, and passports can work as valid documentation.

Several first-time renters opt for a co-signer to ease their apartment troubles. This is usually undertaken by young adults who have parents that can financially back them. When you sign a loan with a co-signer, they will pay any unpaid balances on the apartment’s costs. This often acts as a guarantee for the apartment owner.

If you do not have a cosigner, you can simply provide references who can either write letters or be called by the landlord to verify your trustworthiness as a tenant.

Lawyer Up on Your Lease

Legal documents can have a lot of legal jargon and technical terms that can go over your head. Some of these terms may even be harmful to you in case you miss a payment. To ensure that you won’t be suffering any legal trouble, do your due research on the lease for any terms you do not understand.

If possible, hire a lawyer to give it a look-over. If you have a close friend who is also a lawyer, then that’s even better. Lastly, always inquire the landlord before signing anything. Discuss everything with them before finalizing so that both parties do not have trouble down the line.