Rent prices continue to increase around Atlanta, but that doesn’t mean you can’t find an affordable apartment.
In this article, we’re going to show you how to get an apartment you can afford.
Finding an affordable apartment in your budget is possible. You just have to do your homework like learning about the location and how much place you can afford.
The coronavirus pandemic caused the apartment industry to adjust the way it does business. Although many things are back to normal, contactless procedures are still in place at some apartment complexes.
The good thing is that searching online for an apartment is as popular as ever.
How To Find An Apartment
The best advice for finding an apartment is to know what you like and to stay within your budget. This article is going to show you some things to consider during your search.
What We’ll Consider:
How Much Should You Have Saved For An Apartment?
Of course, the type of area you choose to live on will vary based on many financial factors, including local cost of living, property values and more.
When it comes to how much you should have stashed away for an apartment, a good rule of thumb is your rent should be one-third of your income.
For example, if your monthly income is $3,000, your monthly rent should be around $1,000.
Typically, you will also need to have the first and last month’s rent. So if you’re renting a $1,000-a-month apartment, you will need to set aside an entire month of income to get the key.
Aside from money, you’ll need to make sure your credit is OK. Here are three ways to improve your credit score quickly.
Once you’ve done your homework, you need to time your apartment hunt with a favorable time of the year.
What Is The Best Time To Find An Apartment?
Because people are less likely to relocate in the winter, you’ll find that rents are usually higher in the warmer months. That means from May through September, you will see rental rates spike.
Conversely, you should be able to find lower rents when the weather is cooler. So that means from October through April is when you may be able to get a deal on your rent.
Now that you know what time to rent an apartment, here’s the main thing you need to know.
How Do I Find An Apartment Remotely?
You may be wondering how you can find an apartment without seeing its square footage and physically feeling how big or small the rooms are. Here are two tips to find one.
- Research the surrounding area: Make sure you take your time to read up on the area, including nearby schools, amenities, restaurants and stores. All of those things give you a sense of what kind of area it is and what you’ll likely spend on rent.
- Do a virtual tour: Most apartment websites have 360 degree cameras that allow you to virtually tour the complex, including the rooms you are interested in.
Once you find your apartment, you’ll need to set up an appointment to talk business with the property manager or leasing agent.
Consider The Size Of Your Apartment
To really get an affordable apartment in a good part of the town, you may have to consider the size of your dwelling.
I know you may want to splurge on a two-bedroom apartment, but you may need to look at a one bedroom. To save even more, see if you can make due with a studio apartment.
As an example, a studio apartment in Midtown Atlanta costs about $1,200. That same studio in other parts of the city could cost as low as $700.
Get A Roommate
Another way to save money on an apartment is to get a roommate. Not only will a roommate cut your costs automatically by 50%, but having another person living with you also adds an element of safety.
Some great places to find a roommate include:
Always put safety first when meeting a prospective roommate for the first time. Make sure the person has their identification and any other documents you may need.
Final Words
Remember that you may not want to live in the most populous or trendy places, because of noise, traffic and pollution. You also may not want to live too far away, which would stretch your commute.
Atlanta has one of the best real estate markets in the country, with affordable housing in every quadrant of the city. Large backyards, manicured parcels and strong neighborhoods with ample dining amenities make it one of the top places for transplants.
Keep up with what’s going on in Atlanta’s real estate scene here with our Apartment Guide.