Finding the right apartment isn’t always as simple as you would like it to be. To find a place that fits your needs, has a good location, and that feels like home is challenging enough, but trying to find that place on a budget is even more so.
Renting an apartment in Northern Colorado with a reasonable rent may seem difficult, but here are a few tips to help you find the most affordable apartment for your budget.
1. Make Sure You Know What You Can Afford
Before you can find an apartment that fits into your budget, you have to know what that budget is. To help you create a budget, you’ll have to start with your net income and a list of necessary expenses. From there you can determine what you can afford in terms of rent and additional home-related costs such as utility bills and groceries. If you need help getting started, there are countless budgeting tools that can help you better manage your money.
2. Start By Factoring All Possible Expenses
You will find that renting an apartment comes at a higher cost than just the rent amount, particularly at the beginning. When you first rent an apartment there will be a number of different expenses that will factor into the initial cost, which in turn can affect your budget. After the upfront cost, you can adjust your budget to cover the rent and any additional fees required.
Common expenses for renting an apartment could include:
- Application fee
- Security deposit (typically equal to one month’s rent)
- First month’s rent
- Pet deposit (if applicable)
- Fees for tenant facilities or amenities
- Utility deposits
- Utilities and other bills
- Parking fees
- Moving expenses
Different apartments will require different things, so be careful that you ask for detailed cost information for any apartment you have interest in. Be sure that you know what is required when you sign the lease and what is owed every month after. How these additional fees fit into your budget could be a major deciding factor.
3. Consider Living With Roommates
Deciding whether to live on your own or live with roommates can be a difficult decision, but if you’re looking for an apartment that will fit in your budget, roommates are a great way to make a place more affordable. Getting a roommate, or two, allows you to split the rent, deposits, fees, and other monthly expenses for the apartment.
4. Branch Out From Your Ideal Location
In every state, there are cities and communities that are more expensive to live in than others. Northern Colorado is no exception to that. From Berthoud north to Fort Collins and east to Greeley, there are many pockets within each individual community that will cost more than others.
You might prefer a certain location because of proximity to work or perhaps its closer to entertainment, but branching out from that specific area could help you to find a more affordable apartment. Take some time to look at apartments nearby or at a short commute away and you will likely find something that fits better in your budget.
5. Don’t Be Opposed To a Second or Third Floor Unit
Renting a Northern Colorado apartment on the lower or ground level is almost always more expensive than renting one on a middle floor. Lower level units offer convenience, while top floors offer better views and both features allow property managers or apartment complexes to charge more. With a middle floor unit, you may not have the same features but they could save you some money on rent.
6. Don’t Hesitate When You Find a Good Place at a Good Price
The rental market in Greeley, Fort Collins, and Loveland is tight and competitive. There are countless other people looking for apartments that are nice and affordable, so make sure that you act quickly on any place that you like and fits in your budget. If you wait, there’s a good chance that you’ll lose the place to someone else.
7. Work With a Property Management Company
At All Property Services, we have a number of comfortable and affordable apartments for rent across Northern Colorado. As a trusted local property management company, we have unique experience with the area that will allow us to help you find the right apartment for your budget. Call us today at 970-224-4446 to start your search.