Apartment Hunting

Rents are High

The rental market in Colorado is very tight right now.  There are not many vacancies and the rent costs have been rising making it more difficult than ever to find an affordable apartment.  Many are choosing smaller places, while others are adding roommates to help share the costs.

It can take a great deal of time and effort to find the perfect apartment that meets your needs.  There are some things you need to consider before you begin your search.  Things like your finances, lifestyle, and the rental market in your area.

Your housing needs

Make a wish list and a need list.  How many bedrooms do you need, do you want amenities such as a pool or work out facilities?  Do you want an adult only building?  Is parking available, and does it cost extra?  Is it located close to a grocery store, library, bike path or park?  What else do you want or need to be close to?   Is it close to work, school or close to public transportation.  If you need to be near a bus line or light rail, make sure you look at options in those areas.

Do you have a certain neighborhood in mind?  Check out possible neighborhoods during various hours/days of the week.  See what is happening.  Is there a lot of morning traffic or afternoon activity, what’s it like at night?

Paying for it

It’s imperative you create a realistic budget.  Decide what you can afford to pay in rent, including utilities and other expenses you will have such as cable, Wi-Fi, transportation to work or school, etc.  All of these will affect where you look for housing. Remember to include a variety of other fees into your budget as well.  Most apartments have application fees, credit check fees, deposits, etc. that you have to pay up front.  Make sure you have checked your credit report to ensure you are able to qualify and afford the rent.  If you have pets, there’s an additional cost for them as well.

Don’t even look at places you know you cannot afford.  Or ones that do not work for your transportation needs.

Searching for a Place

In some areas people use rental agents to help them find available rentals.  An agent can cost money, but if you are not familiar with an area and its rental options, it can also be a huge help.  Make sure you budget for the expense, and check out the reliability of company.

You can also take advantage of numerous websites and on line sources, but beware there are lots of scammers out there as well so make sure you check it out.  Before you sign a lease, read and understand the fine print.