Soon you’ll be done with school and you will be looking to move into your first apartment. Yeeei!! Finally getting to live alone- away from your parents and your annoying roommates. It is an exciting yes, but no one tells you the flip side of this move.
There are a few considerations you need to make before you decide to take this leap of faith.
Can you afford the rent?
This is the first factor you need to take into consideration. Financial advisors advocate that rent should only take 30% of your income. You don’t want to break the bank and all your piggies to pay rent. You might feel the pressure of staying in a better estate but give it time. Rome wasn’t built in a day. Most probably you’ll have just gotten your first job and the pay isn’t high enough to cater for the rent of your dream estate.
Safety and security of the place you have chosen.
How safe is the neighborhood? Up to how late can you stay out and be safe? No one wants to stay in an unsafe neighborhood. They say you can’t choose your neighbors but you can sure as hell choose a good neighborhood.
Don’t overlook your other expenses.
There are a lot of other expenses apart from your rent. There is the electricity bill, water bill and I some places there is the garbage disposal fee. For this reason, you need to establish a budget and consider the slew of costs. There are probably some people who have a student loan debt and the government is expecting you to pay as soon as you get your first job. You probably have to commute to work too. Make a rational budget and stick with it.
Don’t be in a hurry to furnish.
You need to understand that your new apartment is a work in progress. You need to curate on this. Don’t go off in a hurry to furnish it. There is still time and who knows that you might even have a salary increase. Since you’re still struggling with income, it would be a plus if you watched out what’s on sale ads if you really need it. Some things are just wants and nothing more than that. There is no need to buy generic stuff right after you move in while you can find really cooler stuff later.
Lastly, just pray that you find a good landlord.