Whether you are a first time renter or a seasoned apartment shopper, you know that apartment hunting will be difficult. It can be even more difficult when your finances are tight. However, there are ways that you can find an apartment and not put as much stress on your wallet!
1. Find Someone to Live With YouIt is basic math! If your budget for rent is $1,000 every month, instead of getting an apartment worth $1,000 a month you can get a more spacious and comfortable apartment with a roommate that is valued at $2,000 a month! You can also save more money instead of getting a bigger apartment. If your budget is $1,000 but instead you and your roommate lease an apartment worth $1,400 then you will only be spending $700 a month and saving and extra $300! You also save money on expenses like bills and furniture if you guys split those costs as well!
2. Move When It Is Less ExpectedThe seasons affect the marketplace! When you are moving during a common season like Summer, then you are facing a lot more competition which in turn affects prices. You can also get a clear understanding of the marketplace if you pay attention to the area you’re in. If you live near a university or some other school, people are typically moving between semesters like winter and summer. If the area you’re in changes pretty substantially between seasons then you know moving will happen when the weather is nice out.
When you choose to move during a not busy moving season, landlords are more likely willing to give deals on rent prices so that they fill up occupancy issues!
3. Have Questions Ready to Go!Make sure you do your research before viewing the apartment. Good tools like apartments.com sometimes offers clear understandings of what an apartment expects in regards to parking, pet fees, maintenance, etc. However, if you can’t even see beforehand make sure to list and details questions pertaining to you!
4. Brand New Apartment Buildings are the Way to GoWhen you think of a brand new apartment building, you probably think of the word “expensive”. However that is not always the case! A majority of new apartment buildings want to bring in occupants so they run special deals. Some deals offer a month of free rent, or perks like additional parking spaces or full gyms! Depending on what type of deal they are running you can save a significant chunk of cash.
5. Don’t Limit Your Floor OptionsIf you want easy access to your apartment then you rent on the lower floors. If you want a nice view then you rent on the higher floors. However, if you want a cheaper priced apartment then you rent on the middle floors!
Middle floors are right in between a good view and easy access so tenants are less likely to move in there which gives landlords the incentive to lower rent to fill those vacancies.
6. Do Not Hesitate on a Good DealRent prices change all the time, so if you find a place that you love that works for your budget then get it! If you prep accurately beforehand then you should be able to have all the information you need to send in an application. Make sure that wherever you’re going you have enough money for any application fees just in case the place ends up working out!
7. If the Apartment is Not the Best then NegotiateInstead of moving in a place at the max of your budget, you could move into a cheaper apartment that needs some work. If you do this, you can fix up the place out of pocket and that in turn saves you money in the long run and saves the landlord money on repairs. You have a lot of negotiation options but make sure to prep ahead of time!
8. Amenities May or May Not Be NecessaryYou need to decide how much importance to put into certain amenities. You should base that decision on what amenity saves you the most money. If you move into a place with an in-unit washer and dryer then you save more because you don’t have to pay per load. However, those units are in higher demand so you need to make sure that it still fits within your budget. If you choose a unit that doesn’t have a dishwasher, doesn’t have in-unit washer and dryers, etc. Then you can end up saving some decent money.
Overall, apartment hunting may be difficult but if you search for an apartment the right way then it doesn’t have to put any extra stress on your wallet!