apartment costs to look out for

renting an apartment

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what's in this lesson?

So your application was approved, you’ve got your place to live and you’re ready to sign the lease! Now you need to know about the apartment costs you’re about to be responsible for. Here’s the thing — aside from your standard monthly rent payments, there are a few other apartment costs you need to be aware of.

 

In this lesson we’ll go over the “one-time” only costs you should expect — like a security deposit — and the recurring apartment costs — like utilities, parking fees, pet fees, etc. You’re definitely going to want to know about these kinds of costs before you sign anything official!

apartment costs to look out for

renting an apartment

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  • Overview
  • Transcript
  • Resources

apartment costs to look out for

renting an apartment

So your application was approved, you’ve got your place to live and you’re ready to sign the lease! Now you need to know about the apartment costs you’re about to be responsible for. Here’s the thing — aside from your standard monthly rent payments, there are a few other apartment costs you need to be aware of.

 

In this lesson we’ll go over the “one-time” only costs you should expect — like a security deposit — and the recurring apartment costs — like utilities, parking fees, pet fees, etc. You’re definitely going to want to know about these kinds of costs before you sign anything official!

 

When you think about your future living situation, creating a budget is ESSENTIAL. 

 

Once you decide how much you can afford to pay each month, you’ll want to make sure you account for any recurring apartment fees and some of the one-time fees. You’ll need to factor in these fees when you create your budget!

 

Recurring apartment costs

 

These are the things you’ll pay for each month.

 

Examples include:

 

  • Rent: this is probably the most expensive monthly cost you’ll have. Make sure to pay the full amount on time to avoid any late fees.
  • Utilities: your new apartment may have monthly fees for your water, electric, gas, internet, etc.
  • Renters insurance: landlords will typically require you to have this kind of insurance to protect you from things like theft, fires, etc.
  • Other: sometimes certain buildings will require additional fees for trash collection, parking, pets, gym, pool, or other amenities on the property.

 

One-time apartment costs 

 

There can also be a lot of one-time costs that come along with moving into a new place.

 

Examples include:

  • Application fee: this cost ranges from about $20-$60 depending on the apartment.
  • Security deposit: you’ll typically pay about one month’s rent for a security deposit and you’ll get this back once you move out as long as the apartment is in good condition.
  • Movers fee: you’ll need some professional help moving all your stuff, unless you’ve got some super nice friends willing to help you lug your couch up a few flights of stairs.
  • Broker fee: if you ended up using a broker to help you find your pad, it’s going to be time to pay up once you officially sign the lease!
  • Furniture: IS EXPENSIVE! You can find some cheap options for your furniture at places like Facebook Marketplace, IKEA, and some furniture subscription companies. No matter what, this will be an important thing to consider for your new apartment budget.

 

Trust us, you’re gonna want to at least estimate how much you might be spending on these monthly and one-time costs before you sign a lease and move in! Less surprises and more room for your budget to thrive.

what's in this lesson?

So your application was approved, you’ve got your place to live and you’re ready to sign the lease! Now you need to know about the apartment costs you’re about to be responsible for. Here’s the thing — aside from your standard monthly rent payments, there are a few other apartment costs you need to be aware of.

 

In this lesson we’ll go over the “one-time” only costs you should expect — like a security deposit — and the recurring apartment costs — like utilities, parking fees, pet fees, etc. You’re definitely going to want to know about these kinds of costs before you sign anything official!

Transcript

 

When you think about your future living situation, creating a budget is ESSENTIAL. 

 

Once you decide how much you can afford to pay each month, you’ll want to make sure you account for any recurring apartment fees and some of the one-time fees. You’ll need to factor in these fees when you create your budget!

 

Recurring apartment costs

 

These are the things you’ll pay for each month.

 

Examples include:

 

  • Rent: this is probably the most expensive monthly cost you’ll have. Make sure to pay the full amount on time to avoid any late fees.
  • Utilities: your new apartment may have monthly fees for your water, electric, gas, internet, etc.
  • Renters insurance: landlords will typically require you to have this kind of insurance to protect you from things like theft, fires, etc.
  • Other: sometimes certain buildings will require additional fees for trash collection, parking, pets, gym, pool, or other amenities on the property.

 

One-time apartment costs 

 

There can also be a lot of one-time costs that come along with moving into a new place.

 

Examples include:

  • Application fee: this cost ranges from about $20-$60 depending on the apartment.
  • Security deposit: you’ll typically pay about one month’s rent for a security deposit and you’ll get this back once you move out as long as the apartment is in good condition.
  • Movers fee: you’ll need some professional help moving all your stuff, unless you’ve got some super nice friends willing to help you lug your couch up a few flights of stairs.
  • Broker fee: if you ended up using a broker to help you find your pad, it’s going to be time to pay up once you officially sign the lease!
  • Furniture: IS EXPENSIVE! You can find some cheap options for your furniture at places like Facebook Marketplace, IKEA, and some furniture subscription companies. No matter what, this will be an important thing to consider for your new apartment budget.

 

Trust us, you’re gonna want to at least estimate how much you might be spending on these monthly and one-time costs before you sign a lease and move in! Less surprises and more room for your budget to thrive.

Additional Resources

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