When we talk about the property market and all the different tips and advice that are typically given out those buying and selling property, we don’t often consider students. Why?
Well, students are not usually the type of people with enough money to be active participants in the property market. Furthermore, there’s a kind of tacit assumption that college students just use an apartment as a place to crash and study. A house-proud student? Who’s ever heard of that!
But perhaps it shouldn’t be like this. CityHome Collective, a real estate brokerage out of Utah, note that there is in fact a wealth of property advice which poor students renting an apartment for the first time can benefit from.
Getting a Good Deal
Getting a good deal – that’s what everyone buying or renting a home is aiming for right? Students are no different, but it would be fair to say that they’re more at risk of failing in this endeavor and being landed with a seriously substandard apartment. This is usually on account of naivety and inexperience in the property market, as well as limited resources.
Sadly, many landlords are only too aware of this.Some of the more unscrupulous ones might see students as something of an easy target, the type of people they can make money off a bit more easily than a seasoned home owner armed with a lawyer and a top realtor giving them up to date, specific market advice.
The natural way around this is for students to become more savvy before the house hunt begins. Again, limited resources means that any student is unlikely to have the expertise of top brokerage in their corner, but much of this this advice isshared in common anyway, and it’s surprising how far general tips from reputable sources can take anyone.
So, if you’re a student embarking on finding your first apartment, the most important advice is this – brush up! You should learn how the renting property market works and what youcan expect for the amount you are willing to pay. You are still an independent potential tenant with a budget, just like anyone else – even if the budget comes from mom and dad!
Tips for Renting Your First Apartment
Here follows some general tips for renting your first apartment as student. Bear in mind here though that local market knowledge is as important here as it is in any property transaction. Nevertheless, general tips can already take you a long way. Here they are:
Start the Search Early
This is very specific advice for students. Apartments for students are found close to colleges. These areas are then saturated with hundreds of students in the same position as you. Moving to college can be stressful and takes a lot of early planning. However, this should be one of the first things that you account for.
Consider Renting with Others
Not only will this allow your budget to stretch (much) further, but it puts many more kinds of properties within your grasp. Some students wishing to live alone, for example, might only have dorms as an option. By pooling resources, many other property types become possible.
Research the Area
Chances are it is a well-known student area and there will be much advice out therefrom past studentsabout what it is like renting in this area and how to find the best deals. This needn’t cost you a penny either.
For most, this type of property transaction will be the first of many they make in their lives. It is wise to get off to best start.