Posted by Lending Club :: August 1, 2008 @ 9:32 am

You have graduated college, the school is booting you out of the dorms, and you can’t move back in with your parents, or don’t want to, so it’s time to find your first apartment. Where to start? Here are some tips to help you along.

1. Start with pen and paper – define what you need. How many bedrooms and bathrooms? Do you need one bedroom and an office, den or studio? Define specifically what you are looking for in terms of rooms and space.
2. Decide what is a deal killer and deal maker – if there are certain things that you must have or must not have, list them. If you don’t want to use stairs, list that. If it has to be close to bike trails or close to work, note this. Must the living room have enough space for your grand piano?
3. Don’t use your apartment for storage – there are cheaper self-storage facilities that you can rent instead of allocating one room for your junk. Or, you can see if the apartment building has small storage units that you can rent at a much lower cost.
4. Determine your budget – figure out what is the most that you can afford to pay for an apartment. This includes all utilities, rent and any other fees that might be set, such as fees for parking or a security deposit.
5. Set your timeframe – most apartment complexes require a one-year lease. If this will not work for you, consider finding a room you can rent from somebody else or looking at places that will allow month-to-month renting.
6. Don’t buy furniture – there are too many unknowns when buying furniture before you have a place that you will live in for many years. It could be that the apartment has a built-in dining area or bookshelves. Once you do move in, buy a comfortable mattress and put a word out to friends, relatives and craigslist for what you need. There are many people who would love to get rid of extra furniture sitting in their garage who don’t want to throw it away.
7. Think conservative and small for your first place – once you move in, you will narrow down your tastes and learn what works and what doesn’t without being committed for a very long time. After your first apartment, you will have a better understanding of where you want to live and the type of residence it will be.
8. Look for your apartment – start with asking your friends and relatives. They know you and might be able to direct you to a place that you will like, and this will save you time. Also try Craigslist and other websites like apartments.com.

Renting your first apartment should be not scary and should not break the bank if you approach it correctly and do your planning and preparing ahead of time.