5 Effective Tips to Save Money on Apartment Living

May 15th, 2017

There are lots of reasons why many people opted to rent an apartment than buy a house. And one of those reasons, and probably the top reason, is financial problem.

But there are times that instead of saving, apartment renters ends up spending more thus leaving them financially broke. Well the good news is, it’s totally avoidable and the below tips can surely save you from unwanted expenditures.

Apartment Living Space

The top floor is not the cheapest of them all

Living on the top floor is nice if you wanted more privacy and peace of mind. No heavy footstep under you, no loud noise coming from your ceiling etc. But the thing is, the top floor is also subjected to higher utility bill as it demands more energy and electricity. Based on a study, in an apartment community with three floor units, the second floor is the best choice. It’s safer than the first floor unit and more energy efficient than the third floor. Meaning to say, 2nd floor units are safer and more energy efficient.

Compare community amenities

If you are still hunting for the perfect apartment, make sure to compare each and every amenity that the communities have to offer.  Do they offer free gym membership? Do they have partnership with local services such as coffee shops, restaurants, salon etc that offers discounted services to their tenants? Things like this can seriously help you save a lot of money in the long run.

Know the promos and specials that are running for the month

Some apartment community offers discounted monthly rates, freebies and other specials to fill their vacant spots. So make sure to ask around or search online for possible promos and specials that are being run by the apartment community. If you are in luck, you might be able to secure a year-long discount that could help you save a lot of cash.

Carefully think and inspect the location

When it comes to real estate, location is the most important. You, as a tenant, you must also think about the location before signing the lease contract. Is the apartment community close to major establishments and services that are vital to your daily living? Can you walk to the grocery store? Is it near to your workplace?

Know the average utility bill of current apartment tenants

If you can ask the apartment manager or even the tenant themselves on how much they spend monthly on utility bills, by all means do so. Doing this can give you a pretty good idea on the monthly utility bills that you might end up paying once you started renting.

Following these apartment living tips and tricks can surely help you save a lot of money. So start hunting for the perfect apartment now and be financially-free.

19 responses to “5 Effective Tips to Save Money on Apartment Living”

  1. HeidiDee says:

    These are great tips! I moved to a top floor apartment after being tired of my loud upstairs neighbors. It was the HOTTEST apartment I’ve ever had!

  2. Jeanette says:

    I like the tips. I wish I knew about a lot of these back when I was looking at apartments. I think I would change stuff around on my priority list.

  3. Tammy says:

    We are planning on selling our home and start looking for an apartment. I had never thought about the advantages/disadvantages of being on the top floor. Thats what were were going for. Thanks for sharing.

  4. adriana says:

    What great tips!! It’s so important to know what you’re buying – I so agree that inspections are SO important!

  5. That’s some great pointers! We did all that when we bought our duplex a few years ago. Location is important when searching for a place to buy or for rent.

  6. Natalie says:

    These are such great tips! My sister is looking for a place of her own so I will be passing this along to her.

  7. Thanks for the tips. I didn’t realize that second floor apartments were the safest. I will have to remember that if I ever have to live in an apartment again.

  8. Where was this when I was apartment hunting?! These are great tips. It can be hard to hunt for a new apartment especially if it is your first one. There are a lot of unexpected costs and things you don’t think about until you live there. This is very helpful!

  9. Catvills says:

    These are all great advice for families or individuals looking into renting an apartment. When my daughter had to rent a place of her own, we helped her pick a safe community, secure apartment, and asked existing tenants about possible neighbors, utility rates, etc. My advice is to not rent based on how pretty the apartment is. There are other factors we need to consider.

  10. kelly reci says:

    this is intersting! my sister will have to move to an apartment near her school! im sure this will be a big help for her!

  11. Elizabeth O. says:

    These are great tips. It’s good to survey the apartment first and get to know how much the bills are usually. It’s nice to be able to save even just a few bucks.

  12. Great timing on this piece as so many college students are now moving our of their dorms and into apartments to start their new jobs! It can be scary being a first time renter so thanks for sharing your wealth of information.

  13. CourtneyLynne says:

    Great tips!!!! It’s always smart to find out what the utilities run no matter where you potentially want to live. You need to mks sure you can afford everything and there aren’t any hidden cost

  14. Rosey says:

    It’s always a guessing game at first as to what the utilities will be. I have learned to tread cautiously until the first couple if bills have cycled.

  15. Tonia says:

    I used to lease apartments out and the best advice is definitely getting concessions during specials. Move-in costs can add up so it’s nice to get a deal on rent on the front end.

  16. Michelle Waller says:

    These are great tips for saving money living in an apartment. I think pretty much everyone can benefit from these tips.

  17. lex says:

    good post, always good to make up for that expenses later through these few tips, who knows, you buy or afford bigger than you are now. money saving posts are so encouraging.

  18. Ashley Grant says:

    I wouldn’t trade living on the top floor for living on the bottom floor of my apartment, but I can see how it may cost more to heat and cool it. I also agree about knowing the promotions that the apartment complex is running, but you need to be cognizant of the normal price too in case you get stuck there for a second year at full rate.

  19. These are great tips. I especially like the one about amenities as they might not be obvious if they’re not in the building but ones negotiated on behalf of all tenants with local businesses.

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