Your first apartment is exciting—and expensive. Here's how to navigate it without getting burned.
How Much Can You Afford?
Pro Tip
The 30% rule: Your rent should be no more than 30% of your . At $50,000/year, that's $1,250/month max.
But that's just rent. Budget for the full picture:
| Expense | Typical Cost |
|---|---|
| Rent | $1,250 |
| Utilities | $100-200 |
| Renters insurance | $15-20 |
| Internet | $50-80 |
| Parking | $0-150 |
| Total | $1,415-1,700 |
Upfront Costs
Be prepared to pay before moving in:
- First month's rent
- : Usually one month's rent
- Last month's rent: Sometimes required
- Application fees: $30-75 per application
- Moving costs: Truck, supplies, movers
Real Example
For a $1,200 apartment, you might need $2,700-3,600 upfront (first + last + deposit + fees).
What to Check Before Signing
Do This
Walk through and check:
- Water pressure and hot water
- All appliances work
- Windows open and lock
- No signs of pests
- Phone signal in each room
- Outlets work (bring a phone charger)
Document any existing damage in writing with photos. Email it to yourself for a timestamp.
Understanding Your Lease
Read the entire lease. Look for:
- Lease length: Usually 12 months
- Rent increase terms: When and how much
- Pet policy: Fees, deposits, restrictions
- Subletting rules: Can you if needed?
- Break lease penalty: Usually 1-2 months rent
- Notice required: Typically 30-60 days before leaving
Watch Out
Never sign without reading. "It's standard" is not a good answer to your questions.
Before You Move In
- Set up utilities in your name (electric, gas, water)
- Get renters insurance (required by most landlords anyway)
- Submit mail forwarding to USPS
- Take photos of everything for security deposit protection