Finding an Apartment

When finding an apartment, there are a few things to consider. After you know where you want to live, you need to decide on a budget. A common rule for doing this is the 30% rule. This guideline says that you should spend no more than 30% of your annual income on rent. So if you make $25,000 a year, you shouldn’t spend more than $7,500 of that on rent. Your monthly budget would be $625. If you make $100,000 a year, you can afford a place that costs $2,500 a month. Use your annual income to calculate your yearly and monthly housing budget!

After your budget is set, you should consider what is most important to you in a space. Do you want to be super close to work? Do you want a gourmet kitchen to cook in? Do you need to have multiple bedrooms for roommates to live in, or do you want a studio to yourself? You need to rank these factors in order of importance to you personally. Unless you make an insane amount of money, you likely will not be able to get everything you want in an apartment. Creating this priority list will help you know what you can compromise on, and what you can’t.

You know your budget and what you are looking for in housing. Now comes the fun part! Begin searching for apartments. Zillow.com is a great resource for this, and I also enjoy watching youtube videos of people searching in the city you are looking in. Their experiences may help you make a decision! Start compiling a list of apartments you are interested in based on your budget and priority list. If it gets too long you can make some cuts, then schedule tours! If you can’t go in person, many places offer virtual tours or have videos of the spaces online.By starting with your budget and your priorities, deciding on the perfect place will be easy!