Sometimes when I speak with tenants and ask them when they are looking to move, they tell me as soon as possible. However, if you ask additional questions, you find out that they are not as prepared to move as they though.
So here are some tips for consiering when you should move.
If you are currently renting, understand what your obligations are with your current landlord. If you are in a lease, your are responsible for the rent until the end of the lease. If you are in a tenant at will (TAW) situation, then check your paperwork to see if you need to give 30 day or 60 day notice. Please note that giving 30 days notice isn't REALLY 30 days. It is actually until the end of the next month. So, if you give notice on March 15, then you are telling the landlord that you are vacating as of April 30. If you give notice on April 2, you are telling the landlord that you are vacating as of May 31.
Most landlords have guidelines that they use to determine whether you can afford an apartment. The typical guideline is that your rent is 30-40% of your gross monthly income. So, if your gross income (before taxes) is $2000/month, then you want to be looking at apartments in the $600-800. Note, that this is only a guideline. Some landlords will let you rent their apartments at higher percentages -- depending on your credit and other monthly payments. But, this is a good guideline to use when you begin your search.
Most landlords require that you provide at least 2 months rent upfront. (first and last or first and security). Understand what your finances are so that you know what you can provide upfront.
Make sure you know what you are looking for when you are moving. Are you looking to get closer to work? Do you want a larger apartment? Do you need any specific amenities? If so, make sure you can communicate these so that you don't waste your time looking at apartments that don't fit your needs.
Thank you for visiting today. I'd love feedback on what you think and how I can help you with your real estate needs. I'm also never too busy for your referrrals!