You don’t have to be a commercial real estate expert to make wise decisions for your first apartment! All you need is some background knowledge and a bit of patience. Here are five things you should consider when looking for your first place.
Different Apartments Have Different Lease Lengths
Depending on where you go, you might notice that different places rent out apartments for various lengths of time. Some units may go by six months while others go by twelve; you may also find apartments that lease every month.
Saving May Take a Little Longer
If you’re hoping to get into a house soon after you get your first apartment, saving up for it may take longer than you’d expect. By paying rent for an apartment, you’re losing a huge chunk of money every month on an investment that doesn’t return. It does secure you a place to live, but professionals in the real estate business like Stefan Soloviev can help you understand that it’s not the same as renting to own or paying a mortgage.
You Can Be Evicted After Too Many Complaints
There will be rules anywhere you go, and your neighbors can lodge complaints against you if you make too much noise, leave trash everywhere or fail to comply with apartment guidelines. After too many of these complaints, you may get an eviction warning or notice on your door.
Not Every Place is Pet Friendly
If you’re moving with a furry (or scaly) friend, you need to triple-check that any place you’re considering allows pets. Even if your landlord accepts pets, they may have strict regulations for breeds, weight or size. Some animals (like fish, birds and reptiles) may not be allowed even if cats and dogs are.
It Can Be Hard to Get a Deposit Back
When you secure an apartment, you usually have a security deposit that must be paid upfront. This deposit is essentially a piece of collateral if the apartment is left in poor condition when you move. As long as you keep your unit clean and in good shape, you’re supposed to get the deposit back after you leave — however, some landlords are especially picky and may try to keep your deposit over very small issues.
No matter where you go, the right mindset can help you secure a fantastic apartment. There are good and bad things to look out for, but being vigilant and knowing what could happen can make all the difference in your search.
