Moving into your first apartment is not only daunting but also a significant step into independence and ownership. From taking out time to plan and assess your specific requirements and budget to finding your apartment with less stress. Below mentioned are a few factors to help pick the perfect apartment the first-time round:
Identify your budget
When it comes to how much you should spend for an apartment, the general thumb rule is the 50/30/20 rule. 50% of the budget will be your income for necessities and rent, 30% should be allocated to your savings and 20% will be miscellaneous.
Identify an ideal location
When you are looking for apartments for sale, ensure that it close to shops and services that you can commute to easily without any hassle. Public transportation should be accessible easily as well. If you are working take into consideration how long it will take for a roundtrip. To get a much better idea of the noise level in the area, try to visit it at various times of the day and in the evening.
Be clear about what are your wants and needs
When choosing an apartment as a first-time buyer identify what are your wants and needs and stick to them. Ask yourself if you need granite countertops or app-controlled thermostats. Your wants and needs should be determined based on what will make your apartment livable. For example, if you have a pet, try searching for pet-friendly apartments. Or if you work most days from home, try searching for apartments where they offer high-speed internet.
Take the help of experts
Being a first-time renter, you might want to consider getting help from a professional real estate agent such as Royal Canadian Realty when it comes to searching for apartments for sale. Our real estate agents have expert knowledge about the neighbourhood and can provide knowledge to help you make a more well-informed decision. Using the services of a real estate agent also reduces the stress of moving around and searching for apartments that may or may not suit your needs. Bear in mind, that you will be required to pay a fee to the agent for using their services.
Determine how much it will cost to live there
Rent is just a factor in the overall cost of the apartment. There are other items you should factor into such as the cost of utilities, cable, internet service, water and electricity and much more. Based on the landlord, the price will vary. It is ideal to enquire about these costs upfront before you sign the lease.
Assess the neighbourhood thoroughly
The neighbourhood plays a vital role in the apartment buying process. You have to identify what is the crime level in the area? Are there any nearby grocery stores around? Is community to my workplace easier and nearer? Is the neighbourhood pet and family-friendly? Etc.