After all your blood, sweat and tears, the day for you to move out and rent a new place on your own has finally arrived. However, all your hard and effort doesn’t end there, because it will get much harder for you when you start breaking things down and consider just how much your first apartment is going to cost you.
However, in order for you to get rewarded with a beautiful home, you’ll need to struggle a little. But don’t worry, to make things easier for you we have prepared a few tips to help you save money when moving to your first apartment.
1. Get a Roommate (Or a Small Apartment)
Renting an apartment by yourself can be expensive, especially if you want a bigger space. That leaves you with two alternatives, to either get a smaller apartment or get a roommate. The latter, though risky, is much more economical than the former alternative. Not only will you have someone else to split the rent and bills with, but you also get to have a companion that you can talk to every day. This is especially useful if you’re moving from abroad and don’t really know anyone else in the area.
Of course, if you value your own private space, you can always decide to rent a smaller space that can only fit a bed for you, along with a couple of other basic furnishings.
2. Don’t Rent What You Can’t Afford
Always be honest with yourself. If you can’t afford something, then it’s best to stay away from it. Map out your income and try to come up with a figure that you think is the most reasonable amount of money to spend on your rent. Remember, rent isn’t the only cost you have to worry about. There’s the security deposit, as well as other monthly expenses, such as utilities and groceries. Then there are the transportation costs, and of course, your daily allowance.
Once you’ve narrowed down a set budget, don’t exceed it. Remember, stick to only what you can afford.
3. Move Your Stuff Yourself
Unless you’re going to be moving tons of furniture, you’re better off renting a truck and moving all of your furnishings yourself to save money. Don’t worry about spending too much on renting a truck, many rental truck companies offer affordable rates for renting their trucks.
Of course, if you have friends and family that can help, that would be even better. Just make sure that you thank them for helping you out.
4. Rent Furniture
Furniture costs can add up quickly if you’re not too careful. Even if you had some money allotted for it, you’ll almost always end up spending more than you have to. That’s the reality of moving out, especially if it’s your first time.
One way to save up on furniture is to rent them instead. Getting a rented sofa, for starters, allows you to save the money you would have spent on a new sofa so you have a rainy-day fund in case of an emergency. Not to mention, rental companies have a wide array of furniture available from sofa rentals, couch rentals to bed rentals, so much so that you can probably rent an entire apartment’s worth of furniture at the fraction of the cost of buying one.
The best part? Most rental agreements come with an ownership clause so the furniture is actually yours once the lease of 12 months has ended.
Moving to your first apartment is a costly venture, but if you remember these tips, you’ll be able to save yourself a fortune without making too many compromises.