Finding Your Own First Place
If you’re reading this, you might be thinking about moving out on your own or maybe you’re staying somewhere temporarily. Maybe you need to find a place to stay, like now. When you first start out, finding your own place can be exciting and a little scary at the same time! We’re here to help you through it!
There are a lot of options and researching them can be overwhelming. Either way, here we’ll share the steps to finding a place that’s right for you.
But first…the budget!
The “not so fun” but important part of all adulting decisions is figuring out what you can afford. Cost is usually at the top of mind for everyone looking for a place. Before you even start looking, you’ll need to know how much you can spend on housing. Then you can focus on finding a place you can afford.
Experts recommend that your rent be around 25% to 30% of your monthly income (your income x 0.3) and ideally not any higher. This Budget Worksheet from Freddie Mac is a tool to help you calculate how much you can spend on housing.
Also, be aware that many apartment and home renters have some up-front fees that you need to pay before you move-in. For example, most places charge first and last month’s rent, an application fee, and a deposit but there might be others. You will need to save up for those additional expenses.
Type of Housing
Once you make your budget and find out what you can afford, you have some options on type of housing. You’ll most likely be looking to rent because when people are first starting out, they’re not quite ready to buy a home —yet. So, your three options will be to rent an apartment, a house, or a room.
Locating affordable housing
Finding affordable housing can be tough! Thankfully, the Housing and Urban Development (HUD) Department provides some resources to help individuals find homes they can afford! Check out this link for those resources: HUD Rental Assistance.
Finding an apartment or house to rent
There are many sites online that advertise homes for rent. A couple of them are Apartments.com and Trulia.
Finding a room to rent
In the Phoenix housing market, there are room for rent and roommate listings at these sites: Roomster.com or Craigslist. In other markets, there are listing sites like SpareRoom.com.
There are realtors that specialize in rentals. If you know one, they should be able to guide you to a rental that meets your needs.
Pro Tip: When renting from an individual, get to know them and their expectations from you as a renter before you enter into a rental agreement. Ideally, they should be someone you know and trust. Always get your living arrangements down in writing through an official Rental Agreement to avoid misunderstandings.
Rental agreements are legally binding documents that can prevent misunderstandings and other potential issues. Note: This does not constitute legal advice and we make no claims or guarantees on the legal protections of this document.
Location
Is it close enough to work or school? Are there grocery stores or food places within walking distance?
If you have reliable transportation, you’ll have more flexibility when it comes to location. However, if you need to walk, bike, or take the bus to work or school, your new home needs to be close enough for you to do that. Also, keep in mind the bus route, especially if you rely on the bus for getting places.
Other Considerations
Utilities —Are the utilities included in your rent? If not, you’ll need to budget for that too.
Laundry Arrangements —Is there a laundry room or facility close by? If not, you may need to launder at a laundromat
Garbage Disposal —Is there a place to dispose of garbage nearby and is it safe to go there?
Pet Policy —Do they allow pets, in case you want to get one in the future?
Safety —Is the neighborhood safe? Is there an alarm system? Do the neighbors make you feel comfortable? No place is perfect but you can do a little research and learn more about your neighborhood. See these sites: The National Sex Offender Public Website, Family WatchDog, NeighborhoodScout, CrimeReports, and SpotCrime.
Generally, before you sign a lease agreement, it’s a good ideal to walk around the neighborhood to get a sense of the community. You can learn a lot just by spending time in the neighborhood and talking with potential neighbors.
Need more housing advice?
If you need advice on any housing concern, contact a HUD-approved housing counseling agency or call toll-free (800) 569-4287.
Sources
U.S. Department of Housing and Urban Development - Rental Assistance
