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Apartment Checklist for First-Timers

Some people are hesitant about the idea of moving out. It is because they find the process intimidating and overwhelming. Whether you are planning to leave your college dorm or look for an apartment across town, there are many things that you need to keep in mind.

Being independent means that you need to take charge of many things in your life. This is not easy, especially if you have been living with your parents all of your life. When apartment hunting, you need to worry about details like where to find bedroom sets for cheap prices and how to pay your bills. To make the transition a little bit smoother here are some expert tips that you can consider.

Budget

How much money you have in your bank account can make or break your plans for getting a new apartment. It is best to make a complete list of your monthly expenses. How much can you afford to pay for rent, groceries, and other bills? You also have to think about your daily living expenses like gasoline, fares, and recreation. Is your monthly salary enough to cover all of your basic needs without the need to incur any debt? It would help if you had a clear idea of how to manage your salary without sacrificing your quality of life.

Deposit

Before you are allowed to move into your chosen apartment, you need to pay a deposit that is equivalent to three months of the rental fee. You may also need to pay extra if you are planning to let your pets live with you. It is crucial to save extra money for your initial deposit if you are serious about living independently.

Additional expenses

Once you have paid the initial deposit, you are ready to move in anytime. The question is if you have additional expenses to worry about. If you are bringing a lot of stuff with you, there is a possibility that you will need to hire a moving company. Alternatively, you can talk to your friends and ask them to help you settle into your new place. This can save you hundreds of dollars, but do not forget to feed your friends with snacks or teat them to dinner as a way of thanking them for their time and effort.

Co-signer

It is typical for landlords to ask for a co-signor if it is your first time renting an apartment. That person will vouch for your capacity to pay by signing their name on the contract. In case you are unable to fulfil your financial obligations as a tenant, then the co-signor will take responsibility for your rent payments. Additional reasons why you might be asked for a co-signor are because you have a low salary, no credit history, or you have existing debt.

Lastly, you can ask your parents or close relatives to co-sign the apartment lease. However, you need to make sure that you will be a good tenant taking responsibility for your monthly rent payments.

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