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First Time Renter’s Tips

Getting ready to move out of home and into your first apartment can be super exciting but it is also a really big change that can be overwhelming.

Here are a few of our tips to help you before you jump into apartment hunting:

  1. Calculate Upfront Costs
    Something to remember is when you're first moving out it isn't simply about paying rent and you're set. Although that's a good start – when you first move out there are a few other costs to keep in mind:
    • First and Last months rent
    • Cable/Internet set-up
    • Furniture
    • First Grocery Shop
       
  2. Calculate Monthly Budget
    Again – being able to afford your monthly rent is definitely a good start but you need to ensure you can afford anything else that you require to live – for example:
    1. Rent
    2. Utilities (if applicable)
    3. Insurance
    4. Internet/Cable
    5. Groceries
    6. Gas for your car

We have a great budget worksheet that you can download here.
 

  1. List What You Will Need
    Since this is your first time renting and potentially the first time you've ever lived on your own – you are going to need to start from scratch when it comes to furnishing and filling your new apartment.

    Start out with the basic furniture pieces and necessities like towels, shower curtain, cookware. Once you have these items you can start filling in the blanks with nice to haves and decoration.

    Check out your local thrift shop or charity shop as they can have an assortment of furniture and smaller items like flatware.
     
  2. Declutter
    Moving is the perfect time to clear your space from items you simply don't need or want. Instead of simply throwing everything in a box go through each item individually before it makes its way to your new place.

    This is a great way to start yourself out on the right foot in your new home.

     
  3. What Are Your Apartment Must-Haves
    Take some time to write down a list of items you really want your apartment to have. This can be anything from close location to public transit – to must have in-suite washer/dryer. This list will help you narrow down your search when it comes to apartment hunting.

    We recommend also have a Needs and Wants list – anything on the wants list is just bonus but can help you potentially choose between two contenders. An example of a 'want' might be a fitness centre/gym.

     

These are just a few tips to help you get started. If you are a first-time renter BUT have been a homeowner and are looking to downsize we have the perfect blog post for you here.