While most people dream of owning their own house someday, often times it is simply not practical early in life. Until they are in the financial position to afford a down payment and a mortgage, many people choose to live in an apartment. An apartment in Ames is especially convenient for people who work in or near the city, where housing prices are sky high. Whether renting, or buying an apartment, it is a more affordable option than a house. This articles gives tips for people looking for an apartment to save money, and find a place that fits their needs at this point in their life.
Before Shopping, Determine Your Five Year Budget
Most people plan to live in a house or apartment for at least a few years, usually more than five. Before you begin finding potential apartments, determine what your expenses and income will be for the next five years. A smart rule is to allocate no more than 25% percent of your budget to your apartment costs. This can vary of course, depending on personal preference. Remember, it is always smart to leave a buffer of about 10% of your income when planning a budget.
Cost Control: Tips To Save Money
The neighborhood an apartment is in is one of the primary factors in price. However, be careful not to pick an unsafe area just because the costs are low. A neighborhood with great schools may cost a lot more. If you don’t have kids, this won’t be a priority for you, and you can pay less by avoiding such neighborhoods.
Consider the distance from your apartment in Ames to your work. If you will be driving yourself a long distance, this should be considered an added cost for fuel and car maintenance. Also, look into what public transportation options may be available.
Due Diligence: Research Your Future Landlord
The quality of your landlord will have a profound effect on your living experience. Get references from at least three past tenants, and ask about their experiences. Also, search online for any complaints about the landlord or company you are considering renting from.
Begin the search and planning process well in advance of when you need to move. The most important factor in success finding a good realty company.
