My son is moving into his first apartment for his last couple of years in college. Looking for an apartment was a good experience for him as he needed to know what to think about, what to look for in a living space and learn how to compare his choices to make a decision. Of course, cost is a major decision point, but he also needs to compare size, amenities, utilities, special deals, location, laundry facilities, parking and a few other factors.
Location-Location-Location
It is hard to determine what is the most important, but I think in most instances that location ranks at the top. I’m not a real estate professional. but I think that might be the first thing a real estate agent might learn. When looking for a place to live, especially if going to college, an apartment closer to campus is ideal. An apartment within walking distance will certainly be more expensive, but if you can ride a bike, take public transportation or drive in your own car, you can sacrifice a closer proximity for cheaper rent.
Another thing to consider is if the neighborhood seems safe. No one wants to live in a neighborhood that has a lot of crime. Check the crime statistics for a particular neighborhood you are interested in before you sign a lease. Safety is of the utmost importance for peace of mind.
Costs
Apartment rent is usually based on the size of the apartment, amenities at the complex and in the apartment and the neighborhood. Many apartments offer special move-in deals; for example, some offer one month free while others offer a discounted price for the first year or all utilities paid. When talking to the lease manager, ask about these specials because some will not tell you on their own.
The rent price is definitely affected by the size of the apartment. A 3-bedroom apartment will obviously cost more than a studio. If looking for a smaller-sized apartment, each complex with availability will have different floor plans with various square footage. Compare the spaces and choose the size that fits your needs. Some apartments will have updated interiors to reflect recent trends and others will be stuck in the 70s. Apartment updates are a big draw to those looking for someplace that is newer.
Also, the neighborhood will affect the cost. A complex in an affluent neighborhood will most likely cost more than one that is not. If looking for a college apartment, a safe neighborhood is again very important.
The cost of utilities is a factor as well. Some complexes force the residents to purchase a certain utility because they have an agreement with a particular service provider. Usually, these services cost the resident more in the long run; for example, a complex may force residents to purchase internet service from a certain provider even if they do not want internet service. Not only that, but the internet speed for the minimum amount of service may be really slow for the price, making the resident need an additional plan from somewhere else. Make sure you can find a workaround for these forced utilities or find a way to live with what is provided.
Amenities
When looking for an apartment, amenities have the biggest comparison value and could be the deciding factor. The amenities inside the apartment and within the apartment complex are the two types of amenities that people consider. Amenities inside an apartment could include microwaves, washer and dryer hookups, carpet vs. hard floors, walk-in closets, updated decor, balconies, ceiling fans and more. Another factor to consider is if the apartment is on the ground floor or the second floor. Do you really want to lug furniture and groceries up and down a staircase?
Apartment complex amenities could include a fitness center, pool, grills, dog parks, concierge trash pick up, pest control and many other services.
Community
The neighborhood and surrounding area of the apartment play a significant role when looking for a place to live. The proximity of grocery stores, drug stores, banks and other shopping is a major factor. You don’t want your young adult to be too far away from the places they will visit frequently.
The immediate vicinity surrounding the complex can also come into play when making a decision about an apartment. Is the complex in a noisy area or located in a quiet neighborhood? Do you need a car to travel to get groceries or is there a place within walking distance? Do you need to live near a train, bus or subway to get around? If so, is there a station, bus stop or subway entrance nearby? These are all questions to think about.
Young adults are perfectly capable of looking for an apartment on their own, however, the first time will define how they go about it in the future. I know young adults seem like they know how to do everything on their own, but some first-time guidance is appreciated even if they keep it hidden. Helping your child through this first-time experience will make special memories for both of you.
