Then came creating my Moving Budget. I created an excel document listing my total income, savings, and cash flow for the month we were moving and included normal monthly expenses (bills, food, laundry, etc.), moving expenses, and rental costs (Deposit, First and Last Month).
Since I have some leftover from the variable and moving expenses I applied that to what I need for the Security and First Month Payments so I can keep at least $500 in my Savings Account!
Lesson # 2: There’s Always Little Things
Don’t just factor in “Movers.” Bubble wrap, packing tape, boxes, and extra suitcases also cost money. Also, some places will charge you for a Credit Check, which you usually pay for along with the deposit.
I spent weeks searching posting after posting on Craigslist. Our back up plan was that if we hadn’t found anything by mid-month we’d consider using a broker or paying a fee for Rent-Direct.com (a real estate listing that filters its postings more than Craigslist and cost $95 to sign up for).
Lesson #3: Money Upfront Can Save You In the Long Term
If your free search doesn’t give you the results you’re looking for, sometimes it’s better to pay a fee for a broker or a service like Rent-Direct.com to find a place that you’re happy with. Holding out on paying a fee and settling for a place that you’re not crazy about isn’t frugal because you’ll be wasting money on moving again in a year (Exhibit A: Me).
I visited 5 apartments the first weekend. Bottom line: not in love. Some because of the area, others were too small, it seems there’s always something…
Lesson #4: Give Yourself Time
Realtors will often show you more than one apartment. Schedule a fair amount of time between your appointments, at least an hour, even if they’re in the same area. Realtors work for building owners and management companies, often both, and usually have multiple apartments they can show you if you have time.
Lesson #5: Don’t Jump On The First Place That Fits The Criteria
Unless you really, really love it. Your gut is usually right and if there’s something off then don’t commit to it until you’ve looked around a little bit more.
Lesson #6: Be Ready To Put Down A Deposit
When going to see an apartment, bring your checkbook and all your paperwork (Credit Report, Pay Stubs, Bank Statement, Copy of ID). Be prepared. If the place is perfect, act fast. You don’t want to lose it to someone else just because they’re better prepared than you. If you love the place, then having your checkbook and papers handy will help you be that person and speed up the rental process.
The main things I’ve learned from my many moves are to BE PREPARED, LISTEN TO YOUR GUT, and LOVE WHERE YOU LIVE. Even in NYC this is ALL possible! I’ll write more later about our next challenge – how to give our rental a pulled together, well-decorated feel, for next to nothing!
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