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Hi Taylor
- I'm moving out on my own for the first time since graduating college,
and I wondered if you had any tips for finding an affordable apartment?
It all seems so overwhelming, and I'm not sure where to start.
Hi Vera - Congrats on the next step! I imagine it does feel
overwhelming; the rent prices young people have to contend with are
pretty brutal. There's no secret solution, but if you stay proactive
and try a lot of things, you'll find something. |
1. Start
online.
This is the least creative option ever, but it's still the right
place to start. Zillow, Apartments.com, Facebook Marketplace,
and any other option you hear about. You might not find a hidden
gem on these sites, and you'll definitely be competing with many
other renters, but this is the best way to see what's on the market.
Most landlords use these rental sites, so an online search is
the simple starting placeeven if it doesn't make you feel
less overwhelmed. There's always a chance you'll find the place
of your dreams and it'll still be available. At the very least,
you'll get a broad picture of rental prices.
2. Tell everyone you're looking. You'd be surprised how often
people find a great rental because the friend of a friend of a
friend of a friend heard they were looking and has a little bungalow
that just became available. If you have friends and family members
who don't know you're apartment hunting, bring them into the loop.
Make sure your parents are telling their friends because that
demographic is more likely to own a rental property they might
offer to you before listing anywhere else. Word of mouth is an
invaluable tool when it comes to this kind of search.
3. Have realistic standards. A lot of people get a little
too dreamy when imagining the first place they get to call their
own. In reality, you're much more likely to have a studio apartment
with a subpar view than half of a gorgeous duplex overlooking
the river. This is not your forever home, so you need to think
about getting a place you can afford with the amenities you need
and a reasonable commute. The bells and whistles will come with
time. If you save money on this first apartment, you'll get to
move into a fancier home a lot more quickly.
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Of the three
points listed above, I think you ought to focus on number three the
most. This might mean finding a roommate or renting a bedroom or basement
area in someone else's home. Don't be ashamed of a modest living arrangement.
This is just one step on your journey, and it's still very early.
Good luck, Vera! |
Legal Disclaimer:
Information presented is for educational purposes only and is not
an offer or solicitation for the sale or purchase of any specific
securities, investments, or investment strategies. Investments involve
risk and, unless otherwise stated, are not guaranteed. Be sure to
first consult with a qualified financial adviser and/or tax professional
before implementing any strategy discussed herein. To submit a question
to be answered in this column, please send it via email to Question@GoFarWithKovar.com,
or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.
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