Whether you’re moving out of your parents’ house, getting tired of living in the dorms or just landed your dream job, getting your first apartment can be intimidating, especially if it’s in New York City. There’s a lot you need to consider before signing a lease that’ll lock you in for a year, but luckily, Her Campus Pace is here to help!
1. Do NOT Plan Ahead
One of the biggest mistakes I made when looking for my first apartment was planning ahead. It’s natural to get caught up in the excitement and spend hours on StreetEasy until you find your dream apartment but unfortunately, apartments you find online do not stay on the market for long. It’s best to begin your hunt a week before you plan on moving in.
2. Roommates
It’s important to consider living with roommates, especially since NYC real estate isn’t the most affordable. Having a roommate can lower your rent significantly and hey – who wants to live alone when you could live with your best friend? Many buildings give you the option of flexing an apartment to make multiple “rooms.” If you decide to flex and install a pressurized wall, keep in mind that most buildings require the wall to end at least 12 inches from the ceiling. However, there are some buildings that allow you to build it from floor to ceiling.
3. Rent
I can’t stress enough how important it is to think realistically about how much your apartment will cost. Costs will vary depending on whether or not you have a broker’s fee, amenities, utilities, and location. Always check to see if the building has a leasing office because if they do, you can save a lot of money by having them show you available rentals instead of contacting a broker (who will most likely charge a fee, usually equal to one month’s rent)! Most buildings also require you to fill out an application which of course, is not free. These applications can be anywhere between $40 – $80 depending on the building and are usually non-refundable. In order to qualify, you have to make 40 times your rent. If you can’t afford to rent an apartment on your own, you will need a guarantor who makes roughly 75 – 80 times your monthly rent. After being approved, you will be asked to bring one month’s rent and a security deposit with you when you sign the lease. After this, you’re all set to move into your new apartment!
Getting your first apartment can be extremely stressful but, it can also be really exciting! Once you figure out a budget, who you will be living with, and most importantly, where, the rest is easy. I hope these tips help you prepare for your apartment hunt.