Either you are downsizing, moving to another city or you are just ready to move out of your parents’ house and have realized that saving solely for the apartment deposit and the credit check fee will not allow you to rent that modern apartment that has been. looking online. Typically, this is because first-time renters have focused solely on apartment rental expenses and don’t realize there are a lot of first-time costs that they haven’t figured out in their apartment search budget. . While some items may vary, depending on the city and regional area you’ve chosen, the following worksheet lists some of the more common start-up costs.
Apartment Application Credit Check Fee $ _____ Apartment Deposit $ _____ Pet Deposit (if applicable) $ _____ Electric Service Deposit $ _____ Gas Service Deposit $ _____ Telephone Service Deposit $ _____ Installation Fee for Service Cable TV or Internet $ _____ First month’s rent for the apartment $ _____ Moving costs $ _____ Total initial expenses $ _____
While these upfront costs will cover your entrance to the apartment, you will also need to contribute some money to equip your apartment with the furniture, household items, and staples that will make life possible in your new place, especially if the apartment is unfurnished. . Sleeping on the floor, eating fast food on paper plates, and not having a place to sit will age very fast!
To reduce your expenses, you may want to consider buying used furniture from thrift stores or yard sales, or perhaps getting some furniture donations from family members. If you have the financial resources, estimate how much you will spend on furniture for each room.
The following worksheet will help you calculate your furniture costs.
Furniture for 1 or 2 bedroom apartments $ ______ Small kitchen appliances (blender, microwave, etc.) $ ______ Plates, pots and pans, silverware $ ______ Household items (bedspreads, towels, rugs) $ ______ Paper Kitchen and toiletries $ ______ Cleaning supplies (mop, broom, household cleaners) $ ______ Food (including first-time staples and condiments) $ ______ Total moving expenses $ ______
You will need to add both totals to get a clear idea of what your expenses will be. Some of those expenses can be spread over a few months; however, you must know what to expect. If you spend the time planning ahead, it will pay off with a much more realistic picture than your budget can handle, no “sticker” worries, and enjoying your new place.