5 Money-Saving Tips For First-Time Renters

July 20th, 2018

Renting an apartment for the first time can be both exciting and dreadful.  As an adult, it can be one of your biggest financial decisions as you will shell out pretty good amount of money on the rent, utilities and furniture.

Since renting an apartment involves lots of cash, you surely want to do it right. And to help you out with your first apartment renting journey, here are few tips and money-saving advice.

House Money

Never underestimate the cost

Before you start hunting for an apartment for rent, ask yourself first on how much you can afford to spend on monthly rent. Consider your monthly take home pay and see if you can afford to shell out a big chunk of it to cover your rental and living expenses. This will help you determine if apartment renting is the right choice for you. If you think you can’t afford to rent an apartment alone (cover all rental expenses), then getting a roommate (to share the rental fee with) could be your best choice.

Additional tip: Aside from the monthly rental fee, you also need to consider the monthly utility bills, grocery expenses etc. Don’t just rely on your credit cards to cover your monthly expenses. Be wise about it and budget your money wisely.

Set your priorities straight

After setting up your budget and you are quite sure that you can afford to rent an apartment, it’s now time to list down your priorities. Get a sheet of paper and write down what you WANT and what you NEED in an apartment. With this list at hand, you can easily check the things that you can and you can’t live without.  If you are on a tight budget, you can easily cross out the things that you really don’t need to save a good amount of cash.

Personally check the apartment before moving in

It’s highly recommended to check the apartment personally before you move in. Check everything and see if all stuff and things are taken care off. Measure the doors so you’ll know that some of your big stuff (like your sofa) will fit through the door. The last thing you want is to leave out a bunch of your items just because they won’t fit through the door. It’s also the best time to check the electrical outlets, plumbing etc and see if they are working well before you move in.

Read the lease before signing

If you are a first time apartment renter, it’s pretty normal to feel excited about having a place that you can call your own. But don’t let this excitement fool you. Before you sign up and hand down the payment for your rented apartment, make sure to read the contract between you and your landlord. Remember, this lease contract is legally binding so once you signed up on it, you are agreeing with everything that is written on it, even if it means you have to pay more than what you and your landlord verbally agree with. Read the contract and understand everything that is written on it. If anything seems off, never hesitate to ask the landlord about it.

Don’t forget basic items that can make your apartment a cozy and livable home

Because it’s your first time to rent an apartment, it’s best to list down all the essential items that you’ll need to make a home. Make a check list of kitchen items, living room essentials and bedroom stuff that can make your rented abode a cozy and comfy home.  Ask your friends and relatives for help if your budget is quite short to buy them all.

These tips can surely help you save good amount of cash when renting an apartment for the first time!

Image via Pixabay – nattanan23 

5 responses to “5 Money-Saving Tips For First-Time Renters”

  1. Rose Ann Sales says:

    This is such a nice post and those are great suggestions that need to keep in mind before renting a house, thank you for sharing this with us.

  2. Rosey says:

    These are good tips. We are in an apartment now. I miss owning a house.

  3. Great tips. I highly recommend familiarizing yourself with the lease and checking out the apartment before you move in. It can save you a lot of hassle or misunderstandings.

  4. Keki Cannon says:

    These are fantastic tips. I deal with renters a lot so I think these are tips they should know! thank

  5. Cindy Gordon says:

    These are really great tips. Being prepared is really m,ore than half the battle of finding a place.

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