Shopping for your dream apartment or condo is fun, but before you start making appointments to see locations in person, make sure you know what you can practically afford. You might like the luxury high rise, but can you afford everything that comes with it? Write down a list of things you need to have, and what things aren’t necessities, but that you’d like to have.
Once you’ve got your priorities straight, stick to these three principals and you’ll be able to find your absolute dream place, even on a budget.
Compromise
When you write down your must-haves and your can’t-haves, make sure you think about how much wiggle room each feature has. Your dream apartment may not be exactly what you expect at first, but if you’re flexible, it can be even better than what you imagined. For example, you may be dead set on having a balcony, but can you live with a bit of a farther walk to the subway station? If so, you could get a gorgeous balcony out of the deal. You may want floor-to-ceiling windows, but a lower fee for housing your pet may be well worth the trade-off.
Be Persistent
If you feel you have realistic requirements for your budget, then don’t settle. The last thing you want to do is a sign a lease when you know the apartment has a lot of downsides. This is why it’s important to make a list of features you need to have, since it will keep you from settling for something that’s less than great.
Call In the Pros
If you can’t seem to find what you want but you feel like it’s out there, it may be time to work with a pro. That’s right, whether you’re looking to buy or just rent, real estate agents will be able to show you properties that fit your needs. You will need to pay the agent a fee, but, if you haven’t made any headway on your own, this may be a great way to get back on track. Keep in mind that if you’re going to be purchasing a condo instead of renting, you’ll also need to start looking into mortgage rates and loans. Professionals an help calculate your best rate based on your finances and credit score.
When it comes to looking for an apartment, trust your instincts. Even if the apartment has everything you want on paper and it’s in your price range, it has to feel right. If you need help jumpstarting your search or diving deeper in to the market, reach out to a First Team agent for quality assistance – no matter what you’re looking for.
Email us at clientservices@firstteam.com
Call us at 888-870-1142
This guest post is written by Brooke Chaplan, a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most her time hiking, biking and gardening. For more information on calculating your best mortgage rate, contact Premium Mortgage Corp. Brooke is available via Twitter @BrookeChaplan.
