5 Ways to Save Money When You Rent an Apartment

Whether it’s your first apartment or your fifth, if there’s one thing that you always want to accomplish is finding a way to save as much money as possible. After all, being that you’re renting an apartment rather than buying a home, you want to make sure that you are wise about much cash you put towards a space that has a lease rather than a mortgage.

So, what are some of the proven ways that you can save money when you’re in the process of renting an apartment? We’re so glad that you asked us that question. Check these five ways out below:

Decide if you want to live alone or have a roommate. One of the first decisions that you need to make is if you want to live alone or if you’re OK with living with a roommate. Obviously, there’s nothing like the solitude of having a place that’s all your own, but having a roommate means that most of your monthly bills, from your rent to your utilities, are cut straight down the middle.

Be realistic about the floor plans. Whenever you have your first meeting with a leasing agent, one of the first things that they’ll want to discuss with you is the different kinds of floor plans that they have available. Although some of them will be bigger or come with a few more accommodations, it also means spending more money to have these kinds of features, so think long and hard, beforehand, about if you actually need them or not.

Stay responsible with your utilities. In rare cases, water and electricity are factored into the rent costs, but usually this is not the case. There are many people in apartments who find themselves paying almost as much on a monthly basis for their utilities as people in houses do and that’s all because they aren’t very cautious about how they used their electricity and water. If you don’t have a ceiling fan, purchase an osculating one for the summertime and an electric blanket or space heater for the winter in order to not rely so much on your air and heat unit. And when it comes to water, if you have a washer and dryer in your apartment, try and wait until you have a full load before using it. Little things like these will make big differences with your utility bills.

Purchase some insurance. Whether it’s an apartment or house that is advertised by Katy Homes for Sale or even some medical center homes for sale, one thing that it’s important to have is either renter’s or home owner’s insurance. Although you may be spending more money on the front end for the coverage, you never know if your place will catch on fire or you’ll be the victim of theft and having insurance will help to replace anything that you might have lost due to an unexpected instance like one of these.

Handle with care. At some point, you’ll be ready to move and your landlord will need to come and inspect your place. If you took good care of it, you’ll be able to get the security deposit back that you paid in full and that can go towards either another apartment or the down payment of a home. A big part of saving money is not wasting any in the first place, so make sure that while you “make yourself at home” with your apartment that you also “handle it with care” too.