Lease Planning for First Time Apartment Rental Expenses

Either you’re downsizing, relocating to another city, or you’re just ready to move out of your parents’ house and you’ve realized that saving just for the deposit on the apartment and the credit check fee won’t allow you to rent that apartment again. fashion in which it has been. looking online. This is often because first-time renters have focused solely on the rental costs of the apartment and don’t realize there are a lot of up-front costs that they haven’t figured into their apartment search budget. While some items may vary, depending on the city and regional area you’ve chosen, the following worksheet lists some of the most common startup costs.

expenses in advance

Apartment Application Credit Check Fee $_____ Apartment Deposit $_____ Pet Deposit (if applicable) $_____ Electric Service Deposit $_____ Gas Service Deposit $_____ Telephone Service Deposit $_____ TV Installation Fee for Cable or Internet service $_____ First month’s rent for apartment $_____ Move-in costs $_____ Total startup expenses $_____

While these initial costs will cover the down payment to the apartment, you will also need to put up some money to outfit your apartment with the furniture, household items, and food staples that will make living in your new place possible, especially if the apartment is unfurnished. Sleeping on the floor, eating fast food on paper plates, and not having a place to sit will get old very quickly!

To reduce your expenses, you may want to consider buying used furniture from thrift stores or garage sales or perhaps getting some furniture donated by relatives. If you have the financial resources, estimate how much you will spend on furniture for each room.

The following worksheet will help you calculate your furniture costs.

Moving expenses

Furniture for 1 or 2 bedroom apartment $______ Small kitchen appliances (blender, microwave, etc.) $______ Dishes, pots and pans, cutlery $______ Household items (bedspread, towels, rugs) $______ Stationery and Kitchen items $______ Cleaning supplies (mop, broom, household cleaning supplies) $______ Food (including first time staples and condiments) $______ Total moving expenses $______

You will need to add both totals together to get a clear idea of ​​what your expenses will be. Some of those expenses can be spread over a few months; however, you should know what to expect. If you spend the time planning ahead, it will pay off with a much more realistic picture of what your budget can handle, with no worries of “label clash” and enjoying your new place.