Apartment Hunting

One of the big necessities for living on your own, is finding a place to live. Generally, most people first starting on their own, decide to rent an apartment. It allows for easier mobility if you are transferred. It is also less maintenance. But it does not allow for very much decorating or renovations. And, when you move, you get nothing out of it. A house is an investment that usually involves property appreciation.

• But let's say you have decided on an apartment. And you need to find one fast. The first thing to consider is whether or not you want a roommate:
  

Pros to having a roommate: 
Less rent
Always have company

Don't have to buy everything

Safety in numbers

 

Pros to not having a roommate:

Don't have to worry if your roommate paid the bill

Can come home to a quiet apartment if you need to

You can watch what you want

You can decorate it the way you want

When you move, you don't have to divide the belongings

• If you decide to get a roommate, you need to choose someone who is compatible with you. Someone you have already lived with, perhaps in college, is a good idea. Unless you spend a lot of time with someone, it isn't always a good idea to room with a friend. If you are new to a city, or you want to live with someone new, you can join a roommate finder service. The website www.roommates.com is a great website that gives you a profile and allows your to contact people for free. A few more are www.roommatenaion.com, www.roomster.com and www.roommates4you.com. You should communicate expectations with your potential roommate before you decide. You need to make sure this person follows a similar schedule, participates in similar activities, and feels the same about smoking, drinking, sleeping hours, cleanliness, shopping...
• You (with your roommate) need to create a list of what you would like in your apartment. Some of these things may include: a price range, amenities (fireplace, kitchen island, bar, community pool, utilities, washer dryer...). You also need to figure out a location. Some areas of cities are more expensive simply because of location. Ask people you may know who live in the area which neighborhoods are more prestigious. You can also create a forum on craigslist.com or answers.yahoo.com. Housing around colleges are often less expensive without getting into bad neighborhoods.
• Begin by looking at apartment websites by filling in your price range and amenities. Some good websites are www.apartments.com, www.apartmentfinder.com, and www.apartmentguide.com. Keep in mind that these websites may be misinformed and that it is always necessary to contact the apartment leasing office to get correct information. Specials are also often not advertised. Set aside a few days and explore your favorite apartments, but keep in mind that not all apartments are advertised. Keep your eyes open as you search and stop by any that catch your eyes. Here are some questions to ask the leasing office:

What specials are being run?

How much does it cost to apply?

Are there any deposits?

What utilities are included?

What utilities are required, such as gas or renters insurance?

Are pets allowed, what kind of deposit is required?

Is smoking allowed? 

How fast are maintenance requests answered?

How much are washer/dryer rentals?

Are there energy efficient appliances?

When was it last renovated?

Where is the closest mall, grocery store, nightlife...?

Do you live here? Why not?

Is there a pool or fitness center?

What kind of community events are available?

Why should you choose this apartment complex? 

What is the availability?

Is it possible to break the lease? How much does this cost?

• Apartment reviews: Once you have narrowed down your choices, it is good to see what actual, unbiased, renters have to say. A great website is www.apartmentreviews.net. Keep in mind that generally speaking, people who say something on these websites come from either extreme, they either love it or hate it. Also keep in mind that some people are very sensitive. They may be an middle age person who goes to bed early, while you just got out of college and are used to noise until 11, 12, 1 o'clock. 
• Applying: By this point you should have it narrowed down to a few apartments. Now begins the application process. You shouldn't only apply to one apartment, because you may not get it or the apartment may become unavailable. If you are a first time renter and you are trying to get a luxury apartment, you may have some difficulties. Many apartments allow someone else, such as a parent, to sign a form stating that they will help you if necessary. This persons credit will be checked, but their name won't appear on the lease. This may help you get the apartment. Also remember that it costs money to apply for an apartment and it is often non-refundable. 
• Sign your lease: Once you are approved and are ready to move in, you have to make an appointment to sign your lease. This may take 30 minutes to an hour because the leasing specialist has to explain everything and you may have questions. In this meeting you will go over the lease and you are given the opportunity to read it. You get a copy at the end. You also pay your deposits (security, pet...). You will also get your key, and you are on your own! There are some important questions you may need to ask:

When is rent due?

What are acceptable forms of payment?

When is rent late? What are the late fees?

How do you make a maintenance request?

How much of the deposit is refundable?

Are there parking permits? Are the parking spaces assigned?

Are there any limitations to decorating the apartment?