Changing your residence is easier said than done. There are multiple costs, logistic issues, and arrangements that you have to plan before hunting for a new apartment. Without efficient preparation, you risk losing money or the opportunity to finally live in your dream home.
Buying a new home has become ever more difficult in today’s economy. More and more people are looking to lease. If you are in the same situation, here are some of the things you should expect when renting an apartment in Keego Harbor MI.
You Will Most Likely Go Over Your Budget
The first thing that you need to consider when changing apartments is your budget. The second one that you should expect is that you will most likely go over your budget.
Renting a new apartment comes with:
- Moving costs
- A security deposit
- A potential application fee
- Renters insurance
- Paying for utilities in the new place
When you first plan your moving operation, everything falls into place. Your friends may give a hand to moving your belongings. You may get a loan for the security deposit or the insurance.
However, when moving day comes along, you may realize that not all of your friends can make it. You may have to pay an application fee to be considered by the landlord. Also, you might find out that your new place lacks an internet connection or other essential utility for which you would have to pay.
Landlords are Reluctant to Lease to First-Time Renters
If you are just leaving your parents’ place, you might find that renting your first apartment is not as easy as it seems.
You may have the necessary funds, but the landlord may be reluctant to lease to you. In the real estate industry, there is a somehow unfounded fear for first-time renters. Homeowners are afraid that they may not pay their dues promptly or that they would bring damage to the residence.
You might find that you need to present letters of recommendation from your employer and your parents. They would act as guarantees to your landlord that you are a reliable tenant with the necessary means to respect a long-term lease contract.
Expect to Pay Extra for Pets
Changing residences is difficult enough when you are the only one in the equation. It becomes harder when you move together with your family, and truly cumbersome when you have to drag your pets along.
Not too many homeowner associations allow pets to live in an apartment building. When you finally find a landlord willing to let you bring along your cats and dogs, you might have to pay extra. So, prepare your budget to include this fee as well.
Renting an Apartment is Not a Lifelong Investment
Many people seek to rent an apartment indefinitely. When they move in, they realize that the deal is not as rosy as it seemed in the beginning. The roof may be leaking or the walls may be too thin to enjoy quiet, comfortable evenings at home.
So, when renting a new apartment, you should consider it a stepping stone towards a better home, unless it already is your dream home. In that case, you’ll only have to make sure that you never breach the contract and keep it for as long as you can afford it.