It’s an exciting milestone to rent your first apartment. Recent graduates and people saving up to move out of their parents’ homes await this day with anticipation. This type of independence also creates many questions, such as “Can I afford to live alone?”, “Will I need a roommate?” and “Will I still be able to go on vacations and not live a life dedicated to bills?” Inflation has changed how people spend their money. Are you debating on renting your first apartment? If so, here is an essential guideline.
Make a Budget for Your First Apartment
Apartments come in various prices, shapes, and sizes. Rent is only one thing you should consider when renting your first apartment. Short-term and long-term costs are synonymous with moving out, and you want to calculate a complete and accurate gamut of how much you’ll spend. You never want to end up short when paying bills. Therefore, figure out these things:
- Application Fee
- Your Deposit
- Utility Bills
- Cable and Internet
- Pet Deposit (if applicable)
- Moving Costs
Fortunately, many apps and tools can help you calculate a realistic budget.
Have a Savings/Emergency Fund
It’s a telltale sign that you can afford to move into your first apartment when you can still add money to your savings. It’s impossible to save for a vacation or rainy day when all your money goes towards bills. Additionally, an emergency fund is necessary for the days when you might need new tires or something else uncontrollable happens. You deserve to enjoy life after taking care of the necessities.
Create an Apartment Checklist
Next, you should create an apartment checklist after being confident you can afford to move out and continue saving. When you make a wish list, it helps you narrow down all your options. Ask yourself these questions:
- What square footage would I prefer my apartment to have?
- How many bedrooms do I need?
- What location works best for me?
- What amenities do I enjoy?
- Do I need an in-unit washer and dryer?
- How much security do I require?
It’s convenient to have nearby grocery stores and shopping areas even if you have a car. Sometimes, you don’t want to travel many miles to take care of errands or find something fun to do. You also want to factor in how far your job is from your apartment and how far away you’ll be from friends, family, and significant others.
Take a Tour
It’s a disservice to only look through a gallery or take a virtual tour. Nothing compares to physically being in a space to determine if you can imagine yourself living there. You can explore how much natural light the apartment receives, if you can hear neighbors, and inquire about amenities.
Give The Apartments of Wildewood a try whenever you’re ready to rent your first apartment. We have a wide range of prices and floor plans that work for different budgets and renters.
The Apartments of Wildewood Have a Friendly Community That’s Waiting to Welcome You!
At The Apartments of Wildewood, located in beautiful in St. Mary’s Maryland, we offer homes with access to pools, an on-site gym, and maintenance whenever you need it – and have access to all the information you need to affordably rent an apartment in St. Mary’s. To set up an appointment to check out an apartment or townhouse rental from The Apartments of Wildewood, call us at 301.737.0737 or visit the website at www.apartmentsofwildewood.com.