Apartment Checklist Questions – If you are a beginner in the whole renting scene, these basic yet essential questions will help you.
#1 – How much is your budget?
This is a crucial question and it will decide the level of comfort of your new living space. This is the biggest consideration when it comes to renting. Determine how much can you realistically afford to pay every month for rent and start from there.
#2 – How much are the utilities and other living expenses?
When it comes to the amount of your monthly rent, try not to go beyond 25 to 30% of your monthly income. If you go over budget, it will affect your budget for your other important expenses and you’ll end up in debt or in a financial bind. Always take into account, not just the rent, but the utilities and living expenses as well. The last thing you want is for you to be eating instant ramen every day because all your money is going to your rent.
#3 – How much is the additional cost when moving in?
Your initial deposit will be pricey. Most landlords ask for first and advance payment, as well as renters insurance. Together with a security deposit, apartment rent will cost almost as much as a downpayment for your own place. Aside from that, take into consideration the cost of credit checks and rental applications.
#4 – Do you need to find a co-signer?
When you move into your first apartment complex, there’s a huge chance that you will need a cosigner. Your parents, for example. In the case that you can’t pay your rent, the responsibility will fall on your cosigner to pay. Usually, landlords require a cosigner because of the following reasons: you have a poor credit history, your monthly rent exceeds one-third of your income, or you have no rental history because you are a first-time renter.
#5 – What is the available mode of transportation around the area?
You need to know the kind of transportation available in your new place. This will help you plan your daily commute to and from work. If you have a car, ask your neighbors about the available parking spaces around the area. If you are planning to take public transportation, familiarize yourself with the pertinent bus routes of train stops.
Once you are settled in your new apartment, follow these steps so you can start decorating your new space. Don’t forget to enjoy your independence and relax in your brand new home, you deserve it.