The nest, i.e your parents house, has been a comfortable dwelling for over 20 years at this point, and as much as you would like to stay, sometimes that shiny new job requires your immediate relocation. Stepping onto the pavement with your trunk filled with everything you have collected, well everything that is important, you ask yourself where do I start? This post will give advice how to begin the housing search, what to do about a roommate, what to look for in a neighborhood, and how to finalize the rental process.
Simply Put, Budget
This is the most important aspect of beginning the rental search. Now that you know what you are going to be making at your new job, or a least a general idea, you can use that as a basis for what ballpark your monthly rent should be in. An article from Rent.com, Budget 101: Determining Your Rent Budget, explains “…You should spend no more than one-third of your income on rent per year.” Of course, if you able to spend less than that the better.
Once you have how much you would spend on rent, factor in your day-to-day costs. Laura Shin, in her article How to Budget Your Money With the 50/20/30 Guideline, it is important to leave about 30% of your pay aside for purchases like groceries, shopping, and things of that nature. These two factors will help you determine if you can afford to live in an area before you move there. The question that must be addressed is if you would be willing to live with someone for lower cost, or have the place to yourself.
Roommates
We have been dealing with roommates for some, if not all of our college career. This begs the question, would you want to continue that trend to save money on rent? Of course we will all sacrifice certain desires for the sake of a dollar, but will a roommate in your adulthood prove to be beneficial not only financially but for our well being? Whether you have someone in mind or are willing to live with a random roommate you have to put your security and sanity above it all. Trent Hamm advises that you should vet any potential roommates before allowing anyone in your home, because safety is number one. If the financial burden of living by yourself is too much, and you are lucky to find a respectable individual to room with, than a roommate is a great option!
Finding the Right Neighborhood
Now that you have an idea of what you will able to afford and if/who you are rooming with, now you have find the right location. Niccole Schreck claims in her article A Guide for Renting Your First Apartment, “You should feel safe and happy in your neighborhood.” That being said, there are factors that some may not considered until they realize it is a problem with their current place of residency. Liz Gray, in the article How to Choose a Neighborhood, states that you should ask yourself questions such as what is the proximity to your job, accessibility to shopping and activities, and overall atmosphere of the area. Your daily commute is going to be one of the biggest factors with your new place, but you cannot neglect aspects that will contribute to you well being. Be sure to investigate gyms, social groups and settings, and other activities. These will provide you with opportunities to get away from the stresses of work and make you more comfortable with the area.
Read and Understand Your Lease
This is the critical phase of the housing search and should be done so with caution and care. Niccole Schreck explains, “When you find a great apartment, you may be tempted to just go ahead and sign, but not carefully reading your apartment lease can lead to trouble down the road.” If you are not on the same page as your landlord, once the document is signed it is difficult to get out of. Scheck goes on to state how you should understand items in the lease such as what is prohibited, who maintains the property, etc. There is nothing wrong with bringing in someone to look over the lease with you, in order to have two sets of eyes to prevent misinterpretation.
The moving our process can be overwhelming, but, just like every other aspect of post grad life, do your research and remain calm. Stay within your budget and look for areas near your job that fit your lifestyle. Happy home hunting and good luck!