You’re doing it. Making the big move into your own place. Maybe you’ve just graduated from college, or just outgrown your parents’ house (now you don’t have to pick up your socks!). Whatever the case may be, we’ll walk you through the steps for renting a new place.
You’re doing it. Making the big move into your own place. Maybe you’ve just graduated from college, or just outgrown your parents’ house (now you don’t have to pick up your socks!). Whatever the case may be, we’ll walk you through the steps for renting a new place.
Ok, so this is the downside of moving out- you've gotta pay. If you haven’t already, create your budget so you know how much you can spend for rent. We recommend you spend no more than 28-30% of your income on rent so you have enough leftover for savings and other expenses. Once you figure that amount, decide what your living arrangements will be. Will you have a roommate? Maybe two?
Because rent is partly based upon location, your budget may dictate where you can look. Check out local guides to find areas that have the amenities you’re looking for. Are there restaurants and stores located conveniently around? Research commute times and/or transportation options if applicable. Look up crime rates and statistics in various areas to get an idea of how safe the neighborhoods are. If you can, take a walk around to get a feel for the area. Keep in mind the terrain - if you’ll be walking and/or driving in inclement weather, will you want to live on a hill?
Now that you’ve narrowed down some areas of interest, you've gotta find a place. Combine online and offline efforts. Maybe you know someone who lives in a great building. Or you know someone who knows someone (Kevin Bacon-style) who has an opening in their area. Ask around. In large cities like San Francisco or New York, hitting the pavement is a good way to find buildings with availability. Head to the areas you’re interested in and dial up the for “For Rent” signs.
Make sure to purchase renters insurance when you move in to protect your things. It’s cheap and usually required by your lease. That’s about it! You’re on your way to living on your own!
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