5 Effective Apartment Hunting Hacks

Editor’s note: This is a guest post by Blake Smith from www.millionairemob.com

Depending on the city, apartment hunting can be stressful and time consuming. One thing that is one constant is searching for the best possible apartment without crushing your wallet on a monthly basis. I’m a big fan of finding something that has the comforts of home, but also doesn’t prohibit you from saving or going out to have fun. No one wants to be house poor. Financial planning isn’t always going to be pretty, but you can get through it if you find an amazing home for great value.

What tips can you use to find the best apartment at the best possible price? Here are some of my 5 favorite tips to finding the absolutely best apartment.

1. Determine your priorities

Let’s be honest, if you want an apartment that won’t break the wallet you will need to make some sacrifices. Set out a list of your top 5 needs and your top 5 wants to ensure that you get your needs AND some of your wants.

You must know what a deal breaker for you is before you start the process. What will truly make you happy? Think about what amenities are crucial for you too. Remember that things like pools, rooftops, etc. are oftentimes paid by the tenants… I mean somebody has to pay for it! This can lead to more expensive living.

2. Use your online resources

Surprise! We live in the information age and there are more resources available now than ever before. There are a number of apps that can help you determine amazing neighborhoods, great reviewed buildings and more. Take some time out of your day to do some research into different areas.

3. Go spend a day in a few neighborhoods

This is one of my favorite ways to find a great apartment. If you can’t afford to be in the heart of the city, perhaps you look into alternative options in hidden gem neighborhoods that will allow for you to live comfortably and happy. On weekends go spend a day in these alternative neighborhoods to truly see if they are a good fit for you or not. Do this before you look at the actual apartments and try to get acclimated with the necessities of the neighborhood including restaurants, bars, hair salons, etc.

4. Consider getting a bigger place and adding a few roommates (even if you don’t know them)

Sometimes this tip can be a blessing in disguise. The way apartment rentals work is that you can oftentimes get more bang for your buck with a bigger place. If you are moving to a city from across the country, you may want to find some roommates to live with by posting in various groups. You can live in better parts of cities by having more roommates. If you don’t know the people, that is fine! You might make a few new friends along the way. 

5. Consider a newer building

New building? That must be expensive! Not always. Sometimes with new buildings in different neighborhoods the building owners are very eager to get the building filled up and operating, so they will promote by giving you a free month of rent or extended leases at a discounted rate. This can be a great way to live in amazing buildings before they become popular.

Not only that you get to live in a clean-living space that hasn’t been lived in by anyone else.

Conclusion on best practices when apartment hunting.

Apartment hunting should be fun and exciting. Apartment hunting is a bit different than buying a home, so embrace it by staying organized and brainstorming into what truly matters to you. Find value by seeking out new buildings and finding new roommates to live with. You won’t be disappointed on a Sunday night when you are living in a cozy apartment and it isn’t breaking your wallet to be there. What do you think about our tips for finding the best apartment for the best price? Please let me know in the comments below. I’d love to hear from you.