6 Tips For Finding Your First Apartment!

Graduating high school and college can often mean moving out on your own for the first time. Finding your first apartment can be stressful, whether moving out from your childhood home, a dorm, or a college house. Not knowing what websites to use, getting a real estate agent, and paying the security deposit are just some factors that go into getting an apartment, signing the lease, and getting the keys. Here are all the things I wish I had known before I got my first apartment!

1. Learn how the market works,

Every city and town has a different way of operating their real estate. The rentals may go quicker due to high demand if you live in a major city like New York City, Los Angeles, Chicago, or Boston. If this is the case, you should begin your apartment hunt closer to your move-in date, as most landlords aren’t willing to change your move-in date. If you live in a college town or out of a major city, you may be able to secure your apartment and sign your lease months in advance. Do your research, ensure you understand the time frame for securing an apartment in your area, and find any local sites for apartment hunting.

2. Organize your paperwork.

No matter where you're moving to, a lot of paperwork is involved: bank statements, ID, proof of employment, credit score, etc. It is crucial to have everything organized and in a folder on your computer for easy access when completing your applications. Having your essential paperwork sorted can be the difference between being approved for your apartment and getting beaten out by someone else. Each application is different, and some require a guarantor. If they do, whoever is your guarantor must also have their paperwork organized and ready. Time is money. The less time you spend looking for paperwork, the quicker you’ll secure your apartment.

3. Tour in person, not online.

Pictures are deceiving. It is very easy to make an apartment look bigger or more attractive than it is with photos. It is also essential to scope out the apartment's area and the building's quality and check the apartment for potential issues. This will be more difficult for people moving from out of state. Still, I’d advise visiting the city where you plan on moving to, even if it means staying in a local suburb to save money and see the places you’re interested in in-person. Getting out of a lease is challenging, so don’t risk it by taking a leap of faith on a couple of photos.

4. Be financially responsible. 

Do not sign for an apartment you can’t afford. If you pay the rent and calculate your monthly earnings, 30% of that amount will be the ideal rent you can afford. Be practical when choosing an apartment. Anything can happen during your lease, and getting a last-minute subletter because you can’t afford your rent is not something I’d suggest. Make sure you have an emergency fund for emergencies. Most apartments require a security deposit and the first month’s rent. Ensure your expenses are sorted before you begin your apartment search so you are not scrambling at the last minute. Make sure you include the price of movers, furniture, and appliances. 

5. Be patient.

Moving is stressful. Many things are out of your control. Living in a safe home that took longer than an unsafe one you found quickly online is always better. Take the time to research, find required amenities, and make sure they are realistic with your price range. Take your time getting to know potential roommates you see online, ensure they are people you want to have around for the year, and be transparent about your ideal living situation.

6. Have a backup plan. 

Start looking at sublets if things don’t work out and you’re pressed for time to move. Look up Facebook groups for your area; some are specific to students, and some are not, so make sure you know what type of people you want to live with if you choose to have roommates. Subletting or joining a lease is typically easier than apartment hunting. You are more likely to communicate with current tenants than agents and brokers. Ensure you communicate with multiple people when doing this, as these rooms can go as quickly as entire apartments. This option is also more financially appealing since you will often have fewer fees and deposits depending on whether you are subletting or joining the lease. 

Good luck and happy hunting!