Lease Planning for First Time Apartment Rental Expenses
Either you’re downsizing, relocating to another city, or just ready to move out of your parents’ house and you’ve realized that saving just for the apartment deposit and credit check fee won’t let you rent that apartment again. fashion you’ve been in. looking online. This is usually because first-time renters have focused solely on apartment rental costs and don’t realize that there are many upfront costs that they haven’t factored into their apartment search budget. While some items may vary, depending on the city and regional area you’ve chosen, the following worksheet lists some of the more common start-up costs.
expenses in advance
Apartment Application Credit Check Fee $_____ Apartment Deposit $_____ Pet Deposit (if applicable) $_____ Electric Service Deposit $_____ Gas Service Deposit $_____ Phone Service Deposit $_____ Cable TV Installation Fee cable or internet service $_____ First month’s rent on apartment $_____ Moving costs $_____ Total start-up expenses $_____
While these initial costs will cover the down payment to the apartment, you will also need to put up some money to equip your apartment with the furniture, household items, and basic groceries that will make living in your new place possible, especially if the apartment is unfurnished. Sleeping on the floor, eating fast food off of paper plates, and not having a place to sit will get old real fast!
To cut down on your expenses, you may want to consider buying used furniture from thrift stores or garage sales or perhaps getting some furniture donated by relatives. If you have the financial resources, estimate what you will spend on furniture for each room.
The following worksheet will help you calculate your furniture costs.
Moving expenses
Furniture for 1 or 2 bedroom apartment $______ Small kitchen appliances (blender, microwave, etc.) $______ Dishes, pots and pans, flatware $______ Housewares (bedspreads, towels, rugs) $______ Stationery and kitchen supplies $______ Cleaning supplies (mop, broom, household cleaning products) $______ Food (including staples and condiments for the first time) $______ Total moving expenses $______
You’ll need to add both totals together to get a clear idea of what your expenses will be. Some of those expenses can be spread out over a few months; however, you should know what to expect. If you spend the time planning ahead, it will pay off with a much more realistic picture of what your budget can handle, no worries of “etiquette clash,” and enjoying your new place.