Moving out on your own and renting your first apartment can be an exciting time, but it can also be stressful. After all, moving is almost always a major life transition, but it can be especially overwhelming when it’s the first time you’ll be out on your own. The following tips can help anyone who is thinking about a move, but can be especially beneficial to those who are inexperienced with renting their own place:
Consider living with a roommate
If you’re off to college and living on campus, living with a roommate may be an automatic. But regardless of why you’re moving out on your own, consider the benefits of living with a roommate. You can still experience the freedom of no longer living with parents or relatives, but you also get to split the household bills in half. And if you find someone who already has a place and is looking for a roommate, it can help to simplify the moving process overall. And depending on the size of the apartment you’re moving into, living with a few roommates can substantially lower those monthly bills.
Managed community vs. private landlord
When it comes to renting an apartment, you can rent one from a managed community or you can rent something that is owned privately. Both can offer advantages and disadvantages, but it certainly doesn’t hurt to explore both options when you’re apartment hunting. For example, if you want to explore your other rental options aside from an apartment—such as a single-family home or a townhouse—then you’ll also want to look at private rental home listings.
Look over your lease carefully
Once it comes time to sign on the dotted line, it’s important to carefully look through the terms and conditions of your lease. Since this is your first lease, it can be easy to overlook certain things, so you may want to have someone with you to also give it a look. For example, the manager may have mistakenly told you that dogs are allowed, when the lease clearly states that only cats are allowed. You want to make sure you aren’t agreeing to something that you’ll end up violating, or that you aren’t making a costly mistake.
Are you receiving payments from a long-term payment stream, such as a structured settlement or annuity? Are the periodic payments no longer enough for your current needs? We may be able to help. At Peachtree Financial Solutions, we purchase long-term payments from people who would prefer to receive their money sooner and in one lump sum. Whether you decide to sell all of your future payments or just a portion of them, receiving that money sooner can make it easier to take care of things that the smaller payments may not be enough for. For example, maybe you have debt to pay down, bills to catch up on, or you want to buy a home. Whatever your reason may be, Peachtree Financial Solutions wants to help you accomplish your goals. Contact us today to learn more about selling future payments and to receive your free, no-strings-attached quote.
Nothing above is meant to provide financial, tax, or legal advice. You should meet with appropriate professionals for such services.