If you’re a first-time renter, you may want to keep a running list of monthly bills. You’ll probably have utilities and a few add-ons to pay. One thing you’ll want to get is renter’s insurance, which is optional but highly recommended to protect your possessions. It can typically be secured for just a few dollars a month. When choosing a roommate, consider splitting expenses.
Needs in an apartment
What are your needs in an apartment? You may want to consider the type of apartment you’re looking for, whether it’s a loft or multi-level unit. You’ll also want to consider amenities such as grocery stores, shopping, recreation, and more. In addition, you might want a leasing term that’s flexible or a gym. You can also choose to rent an apartment with certain amenities, such as a swimming pool or fitness center.
While landlords are not required to provide essential appliances, most of them do. In rent-stabilized units, for example, you may be able to skip a dresser and other amenities. But, for starters, stock up on plastic storage bins and hangers. Save your decor items for later. If there’s no dresser, you can put a mattress on the floor instead.
Lastly, you should consider what utilities you need to pay when considering the best apartments for rent. Utilities include water, gas, garbage, sewer, and electricity. The lease should be very clear on who’s responsible for these expenses. If the renter is paying for these utilities, make sure to ask about them before signing any paperwork. Even if the landlord covers these costs, make sure to ask if they’ll be included in your monthly rent.
Cost of living
New York City’s high cost of living is largely due to the crazy housing market. A two-bedroom apartment in Manhattan can set you back $6,191 a month. While a studio apartment can cost less than $3,000, a one-bedroom apartment can set you back $4,331 a month. Rents in all five boroughs are above the national average, with the exception of Queens.
Depending on the size of the apartment, electric bills can be anywhere from $40 to over $100 a month. The amount you pay will depend on how many appliances you have and how much energy you use, but a more efficient apartment may have lower electricity costs. Electricity costs in NYC are typically 35-40% higher than in the rest of the country, but other utilities are less expensive. Total utility bills in NYC are roughly $136 a month, compared to the national average of $160.
Entertainment in the city is incomparable. According to the U.S. Bureau of Labor Statistics, residents of New York spend 4.1 percent of their total budget on entertainment, compared to 5.1 percent for the entire nation. And that’s only the tip of the iceberg. New Yorkers are constantly entertained and can spend as much as 5.1 percent of their budget on this. You can choose to spend your money however you want, as the city never sleeps.
Splitting expenses with a roommate
If you’re living with a roommate, splitting expenses can make life much easier. Splitting rent is a common way for roommates to split expenses. It depends on your situation, however, as one roommate may have a larger bedroom than the other. Be sure to put any agreements you make in writing so that both parties know what to expect. A good rule of thumb is to split rent equally. If you have a huge room, one person may have to pay more than the other.
When splitting expenses with a roommate, make sure you have a spreadsheet that lists all expenses. Include dates and how you’ll pay each. If you have a roommate who pays their bills late, choose one person to be responsible for that payment. Then, you’ll both have a clear record of your expenses. This can be a big help if you get in trouble with late fees.
ALL THAT YOU NEED TO KNOW BEFORE BUYING A RAIN JACKET
