5 Budget Tips for Finding Your Next Apartment
Updated: Oct 27, 2020
Apartment hunting can be difficult and expensive. Before you begin your search, check out these 5 tips for finding an apartment within your budget.
1. Check Out Brand New Apartment Buildings
Most new properties offer move-in deals because the worst thing you can do after building a brand new, expensive building is to let it stay empty. That’s your opportunity to get in on the ground floor of a really great deal! These new development deals could range from a free month of rent or a free parking space.
2. Ask for a Middle Floor Unit
Rental prices tend to be higher for units that are on the ground floor or on higher levels. People either want the great view or they want the easy access without all the stairs.
If you’re willing to compromise on both the view and some stairs, an apartment right in the middle could save you a few dollars each month.
3. Choose Amenities That You’ll Actually Use
When you’re searching for your next spot and you see that listing that has the beautiful pool, the shiny grills, the cool clubhouse, and the essential gym, stop and think for a moment. Before you hone in on that property you need to ask yourself “Am I really going to use all of these?” If your answer is “No”, then you need to move on because you’ll pay extra for those amenities, whether you use them or not.
Be honest with yourself and don’t get sucked into the glitzy marketing tactics. Figure out what you need and actually use.
4. Negotiate on a Fixer-Upper
If you’re willing to make some minor improvements to your unit, a cheaper apartment or fixer upper could be the route to go. Oftentimes, new owners or landlords are unable to make repairs or just haven’t gotten to them yet. If it’s something minor that you can do such as painting a few walls or fixing a leaky faucet, you might be able to negotiate a lower rate. Both sides win because the landlord gets that job completed and you get to save money every month for just a few hours of work.
5. If You See a Deal, Lock it Up!
Nowadays, rent prices change daily. That’s right! DAILY. With the advancement of technology and management software, apartment complexes use these algorithms to adjust their prices based on various factors aimed at maximizing their occupancy and bottom line. Occasionally, there are times when those algorithms pop out a deal so if you ever see something like that, grab it. Tell your leasing agent that you’re committed to the property and you’d like to lock in that price and sign the papers. If you don’t pull the trigger that day, you risk losing that deal by the next day.
There you have it. 5 quick tips to consider when looking for your next apartment. What else would you suggest we add to this list?
For more apartment tips, check out the blog on www.MilitaryApartmentLocator.com.