You’re all set to move to a new location. Whether it’s the first move, leaving home for the first time, or if you need a change, you need a home — and fast! But, finding affordable apartments can be challenging. You may have observed how expensive monthly rent can be. It also contains the logistical and financial details of the evacuation. It is a lot, mentally and financially.
You can use the cheap apartment search feature on terrapinbay.com to find a place that’s right for you and fit your budget. So before you sign a lease, consider these easy ways to find an inexpensive space.
Find an affordable apartment based on your income
Finding an affordable apartment depends on your budget. affordability is relative. When determining how much you can afford to spend on your monthly bills, it’s important to examine your financial situation.
An excellent recommendation is to spend no more than 30% of your monthly income on housing. In fact, Americans currently spend about 37% of their paycheck on rent. The more money they have to spend, the more people are willing to pay for luxury services.
Remember, you will also need to be a lessee to qualify to live at this property. You will also have to fill out an application and pay an application fee in order to gain approval. Generally, landlords will ask you to make at least three times the amount of the rent to be eligible for the rental.
For example, if the monthly rent is $1,500 per month, the tenant must make at least $4,500. They use a money ratio known as rent to income to calculate it. If you do not produce enough, you may be asked to get a guarantor to get approved.
Determine your qualifying amount, consider how much you will need to spend on expenses, and consider any new charges you will now be responsible for, such as electricity, gas, and the internet.
Will you have to pay for transportation or a parking lot? Will you be furnishing a new apartment? Review your budget to accommodate these expenses. If you aren’t used to budgeting, now is the perfect time to start. Budgeting is an important aspect of locating an affordable apartment.
Best websites to find apartments
Finding an inexpensive apartment for rent requires knowing where to look. But, surprisingly, it’s possible to rent an inexpensive apartment that is nice and cheap at the same time.
1. Airbnb
Airbnb is the place to go if you need a cheap place to stay temporarily. The best approach is to contact people on Airbnb to see if they’d be willing to rent you an apartment or house for a month or two.
You can find Airbnb rentals for as little as $20 a night. That’s more affordable than most downtown apartment rentals. Additionally, there is no need to pay for utilities, Wi-Fi, or cable. Many Airbnb locations also have a kitchen.
2. Facebook Marketplace
Since Facebook is one of the most popular social media platforms around, it’s no surprise that it’s also a popular site for those seeking an inexpensive apartment to rent. The Facebook Marketplace has many listings for apartments or houses and for rent. Some even promote roommates as well.
3. Walkscore
Thus, if you’re really interested in living a thrifty lifestyle, then Walkscore is an excellent website for finding apartments.
This rating indicates how easily you can reach public transportation, restaurants, and other destinations by walking or biking. This saves you a great deal of money on gas since you can walk or bike almost everywhere you need to go!
4. Zillow
You can easily think of Zillow as a site for home shoppers, but it is also a great source for finding inexpensive apartments for rent. Download the mobile app and sign up for notifications to be alerted of apartments in your vicinity.
5. Apartments.com
Of course, apartment.com is the place to go to search for apartments. They have more than a million dwellings, houses, and condos for rent. So you can find a place no matter where you live.
Learning where to find cheap housing is easier with these essential websites.
Make your affordable apartment even cheaper
Now you know how to find affordable apartments take a look at ways to save more money by making your rent cheaper. Here are some suggestions to help you snag a great deal on a rental.
Get a roommate
Another option is to find roommates. First, ask friends and family, and then look for other contacts.
Social networks allow you to connect with friends of friends, so you do not have to live alone. Facebook groups are a great place to search for friends.
Work in exchange for an affordable apartment
Believe it or not, you can live rent-free. There are many ways to achieve this. You can perform home-sharing and live in an intergenerational home in exchange for help caring for the inhabitants. You can likewise become a nanny for a family.
You can get free housing as a Resident Assistant student. You also won’t have to deal with traffic problems to get to class.
You can also find a hotel, hostel, or ranch job by working at a private home. Learn how to find inexpensive apartments is worthwhile, but living for free is even nicer!
List your new apartment on Airbnb
If you like being in charge and hosting parties, by renting out your apartment you can earn a lot of cash every month. Airbnb hosts are earning more than $900 a month!
It is always a good idea to check the terms of your lease. Your landlord may not be willing to let you keep a pet or may require permission from building management. You will most likely also need to obtain a permit in your city.
Get a remote job
You don’t need to be in the office? Try moving to a cheaper city and working from there instead. It may seem strange, but the advantages of remote jobs are becoming more mainstream and accepted.
You don’t have to work alone. Companies are hiring people from all over the United States. It is anticipated that by 2025 over 36 million Americans will work remotely.
Learning how to find an affordable apartment will save you money
So you know how to find a cheap apartment and that it can be a challenge, but not impossible. Even if you move to a different state!
Only a small amount of time is needed, patience, and a little perseverance to research an inexpensive location. Rather than rushing into a place that is too costly, it is important to take the time to find an affordable one.
Lowering your monthly rent frees up more money for other items, like a down payment on a house, if that is your goal. You could also start investing in your own apartments! Learn about building wealth and financial success by learning our totally free personal finance courses!
