Ways To Rent The Most Apt Studio Apartment Within Your Budget
Studio apartments are increasingly gaining worldwide popularity. Rising prices of land and rental property is making people change their preferences. Also referred to as bachelor-style apartments, studio flats or efficiency apartments, they are self-contained, small and offer value for area. A single unit of a studio apartment has all the necessary rooms needed sans any barrier of divisions or walls, giving you all the creative freedom in the world to customise your home. Whether you are a young adult or a student who will be living on your own for the first time, a studio apartment is a great choice. Quite unsurprisingly, similar factors must be considered while finding a good studio apartment within your budget as any other apartment. Following steps will help to unburden and expedite the process, making your search smoother.
1. Determine your affordability level
Most surveys stress that your monthly rent should not exceed 30 percent of your monthly income. Although the most ideal percentage is 20, 30 is the maximum considerable limit. Your budget includes several other expenses to take care of before settling down on the top limit for your rent. Writing all expenses down will be handy for deciding on expenses to cut down, in case you find a really good studio apartment slightly above the limit you had set for yourself.
2. Further lower the rental costs
There are several ways to cut down on monthly rental costs:
- Low transportation costs: Getting a studio apartment in a prominent location will generally require a small transportation budget. If you choose to live away from the common places of commute, you will have to consider the cost of all means of transportation.
- Looking outside urban areas: It may seem like a priority to live in the centre of the city, but it is not a necessity. If you cannot afford the rent, you can check out studios in the suburbs, with an eye on a financially convenient conveyance to work.
- Getting a roommate: A studio apartment may seem like a small space, but it isn’t so always. If you happen to find a good place but at a slightly higher cost, you can scout for a roommate. This will reduce most of your big expenses to half, giving your bank account a lot of breathing space.
- Negotiating a deal: For this, be well-prepared with your homework. Unless you are hunting for a studio apartment in a popular area of the city, the owner is bound to be open to negotiations. It all boils down to your skills and tenacity, along with your knowledge of the competitive rates of studio apartments in the locality you are renting the apartment in.