If you are a first-time renter, learning to budget your apartment is more vital than you know. Most people break the bank while looking for San Francisco luxury apartments for rent, and that is why it is important to have some tips and checklists that will help you stay on top of your finances when looking for apartments for rent in Oakland CA. We know you needed this checklist, so let us jump right into it without further ado.
1. Moving Expenses
The first thing that must come into your mind is to figure out the one moving expense as it will help you budget the first few monthly expenses as well. Although moving is a one time expense, it is important to budget for it. It can be really expensive, especially when you plan to drive cross-country, as you will need professional movers, which can cost a lot. For instance, it costs $350-$400 to hire movers for a one-bedroom apartment, and it costs anywhere between $900-$6000 depending upon the distance as well. So, it would help if you were ingenious when moving for the first time so try to find the cheapest option for this.
2. Rent
Rent will dent in your bank account every month, so you need to be ingenious while looking for apartments for rent in Oakland, CA. If you have not heard about the 50-30-20 rule is a good starting point for determining how much money you can afford to spend on rent. It states 50% expenses, 30% investment and 20% savings to help you decide whether or not you can afford the San Francisco luxury apartments for rent. Also, the average rent costs vary per city and season and also the rent is typically cheaper to rent during the off-season. It would help if you also thought about whether you want a short-term lease or month to month rental lease, depending on how you get your paycheck.
3. Electricity and Gas
Paying for electricity and gas is among the main utilities you need to pay every month. So, start by researching to ensure you are not spending more than you need on electricity. Sometimes heat and natural gas will be covered by your landlord, but sometimes you will have to pay this utility by yourself. So, you need to add these to your monthly expenses when it comes to budgeting your first apartment on rent.
4. Other Utilities
Double-check if there are any other utilities you need to cover before you finally move in the place. For instance, you may have to pay for trash or an amenity fee. Here again, the trash rates are determined at the city or country level, so it varies per place on how much you need to pay every month.
Endnotes
These are some things that you need to keep in your mind on how to budget your first apartment on rent. We hope you will find this information useful and it will help you get the best apartment for rent, especially when you are moving in for the first time.