Moving into a new home can be one of the most exciting times of your life, especially if you are finally independent of your parents and you are making your place in the world. If you are seeking a house or an apartment there are things to consider before moving out on your own. In this article I will offer tips and ideas for the first time renter to assist the reader to a smooth transition into independent living.
A first time renter should expect to run into several road blocks along the way in their search for a place to call home. Before you begin your apartment or house hunt, sit down and review your finances. There is nothing worse than moving out of your parents house to find that you cannot afford your Independence and face no other option than returning to your parents. You should be able to pay a first months rent, and deposit. Usually your deposit will equal your rent. Additionally you must budget about one hundred dollars for your utility deposits, per utility. As an example, electric, water, gas, phone, cable. These are just the basics. You must also figure in that these are reoccurring bills that you will be responsible for each month. This does not include trash pick up service, lawn care and other basics. I would recommend you talk to someone who rents an apartment in your area to get an idea of how much the average utilities are each month. This will give you the basic idea of in addition to your rent, how much it will cost you to live independently each month. The Linq condo may be quiite pricey but it si worth the price because it has good amenities, facilities, accessible location and others. As such, you have to carefully determine your budget.But make sure that the property is also worth your money.
You also need to have references, credit and personal. Many landlords will be less likely to rent to a prospective tenant if they don’t have a rental reference. You might need a co signor, someone who will guarantee that your rent will be covered if you do not pay. Often times landlords also check your credit and criminal background, and will want to view your bank statement to be sure that you can pay the monthly rent. You will want to consider a room mate, and talk to your parents about cosigning for you.
Furnishing an apartment is another matter, and you must be able to budget for groceries, car and insurance payments and clothes. It is not cheap to live on your own. I hate to say it, but many people work full time to pay their housing and living expenses and have very little left over for themselves. It is a sad reality. Make sure that you are looking for a place that you can afford. If you are evicted for any reason, you will have a very hard time renting another apartment, and unfortunately an eviction will haunt you for many years.
I would recommend that when you decide you are ready for your own apartment, or house, that you wait for at least two months, and save as much money as you possibly can. This will give you a cushion to fall back on and a chance to get ahead before you begin paying the outrageous monthly bills!