5 Budgeting Tips For When You Decide to Rent an Apartment

Budgeting plansDeciding to rent an apartment is a great way to figure out where exactly you want to live, thanks to the ability to pick up and go at the end of your lease if you wanted to. You probably created budgeting plans for an apartment, but that isn’t the only thing you need to plan for. Continue reading to learn these budgeting tips to help you financially prepare for your first few months in your new apartment.

1. Utilities

When you move into your apartment, you should know that you’re going to pay for everything. EVERYTHING. This means every drop of water, every bit of electricity that is sucked away because of that charger that is plugged in 24/7, and that precious heat the seeps out the windows in the winter. If you aren’t mindful, your utility bills could get out of control. If you want to control your utility bills, find alternative methods of heating your home and energy-saving hacks that will help save you money.

2. Building Fees

Some apartment complexes have building fees, especially if you are moving into a new building with upgraded features like free Wi-Fi, a community pool and gym, and other amenities. You should pay close attention to the fine print in your lease because you don’t want to get slapped with these hidden fees, which could completely throw off your budgeting plans. Most of the time the fees for water, sewage, and garbage are included in your rent. However, some places will slip a bill in your mailbox for all the times you use the 24-hour concierge service that signs for all of your eBay packages.

3. Parking

Depending on where you move to, you may or may not have to park near your apartment. Most complexes do have assigned parking spots for their tenants, which is a plus. If you live in the city, that is a beast of another burden. Many complexes in the city do not have to park for their tenants, and if you want to keep your vehicle within a close distance, you’re probably going to have to pay more. Sometimes a lot more and your budgeting plans are shot!

4. Rent for Pets

If you are moving to a house with a fenced in yard, you don’t have to worry about taking your pet to a dog park for their daily exercise. However, if you live in the city, you’ll have to go out and take them for walks and such. In both of these situations, the landlord may charge you an extra fee for your pet. In the city, you may incur extra fees for a dog sitter/walker if you don’t have the time to do it yourself.

5. Yard Work

If you’re moving to a house where there is yard work to be done, there aren’t any clear rules about who should care for the yard work. If you have to tend to the outside, you could buy a lawnmower and do the work yourself, or you could hire a neighborhood kid to do it for you. Either way, it is going to cost you some money or time.

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