Real Estate

Seeking a New Apartment: Getting Prepared Before Looking

Finding an apartment can be a difficult task, especially if this is your first apartment; you have not been on the market for many years or are moving to a new city and do not know the typical housing requirements.

Here is a list of things to do before looking for an apartment.

Look at your financial situation: 

The first thing you should do is check your credit report. You can see this information through the annualcreditreport.com. They allow you to receive copies of your credit report from the three main credit reporting agencies once a year. To see your credit rating, you can register at Credit Karma or Credit Sesame and view your free results. In addition, many credit cards, such as American Express and Discover, allow customers to view their FICO points for free.

Uptown Farrer

Know what you can afford:

Look at your checking and savings accounts. Do you have enough funds to move? Moving includes filing fees, broker fees if you use it, and money paid to the owner, and moving your belongings, even if you use U-Haul. The application fees can range from $35 to $100 per adult home. The application not only consists of a credit check, but may also include a check in a criminal case and housing. The broker’s rate can vary from a rate equivalent to rent for one month to 15% of the annual rent, depending on the location. The typical amount that the owner seeks when signing a lease is the first month of the lease and security.

Find out the current rental rates of the market:

It’s absolutely necessary to know the current rental rates of the area in which you want to live, before approaching any real estate professional. This will save you from headaches, time and eliminate the need to deal with crazy reactions when talking with real estate agents, as well as inform them about the budget and the size of the apartment Uptown at Farrer you’re looking for.

Know your space and location requirements:

Be honest with yourself about these things. Do you want to travel a maximum of 30 minutes to work or to school? Do you need a spacious apartment or less? If you have children, do you need to stay in the school district to continue attending the same school? Do you need certain services such as an elevator or laundry? Do you need to have certain places nearby, such as a gym or a place of worship? Asking these questions will help you make a more informed decision.