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How to Pick the Right Apartment

by: John H, Peer Financial Advisor

 

After living in the dorms, you decide you want an alternative place to live next semester. Or maybe you recently graduated and are now looking for where to live for your new job. Either way, apartment hunting can be stressful with the number of properties available. Here are some tips I have for deciding on which apartment is right for you and how to save money looking for some:

1. Live with friends
   1. While living alone can sound tempting because of complete privacy, studios and 1 bedroom apartments tend to cost more by the person than a multi-room apartment. Talk to your friends or coworkers and see if they are open about living together to not only save money but have fun and share quality time together.
2. Create a budget
   1. As with most things, creating a budget for how much apartment you can afford is crucial. You don’t want to end up living paycheck to paycheck because you didn’t calculate how much rent is compared to how much you make.
3. Washer and dryer included
   1. Having the ability to do your own laundry inside your apartment is not only convenient but economically beneficial. Having to drive to a laundromat is inconvenient and even if the complex has shared W & D’s, the amount of money needed to use them can add up quickly, and that is not including your laundry detergent and dryer supplies.
4. Utilities included
   1. Some student apartments provide some utilities including water, cable, internet etc. Look to see if the apartment you have your eyes on includes at least some because you won’t have to worry about paying for them individually