In a city renowned for its glamor and extravagance, luxury living reaches new heights, enticing potential homebuyers with an array of exquisite features that redefine modern sophistication. If you’re thinking about moving to the city and you’re in the market to buy a luxury home in Los Angeles, you’ll find this city offers a wealth of luxurious properties that seamlessly blend elegance, comfort, and functionality.
But what are the most sought-after luxury home features in the Los Angeles housing market? From views of the iconic skyline to the seamless integration of smart technologies, the City of Angels boasts an array of luxury home features that elevate homes to unparalleled heights. In this Redfin article, we unveil the most coveted home features in Los Angeles, providing an exclusive glimpse into the world of high-end living that awaits.
Top neighborhoods with luxury home features in Los Angeles
While Los Angeles already has a high median sale price, coming in at nearly one million in June, almost $500K higher than the national median, there are several neighborhoods renowned for their luxury homes and exceptional features where homebuyers are willing to pay premium prices.
North of Montana tops the list with a median sale price of nearly five million in June 2023. With tree-lined streets and a serene atmosphere, these residences often feature traditional or Mediterranean-inspired designs, spacious interiors, upscale finishes, and well-manicured yards. The neighborhood offers a refined, upscale living experience in a prestigious enclave.
Venice saw a median sale price of over two million. Homes in Venice exude eclectic charm, ranging from beachside villas to contemporary designs, often featuring modern amenities, open layouts, and outdoor spaces. Artistic flair, diverse architecture, and a vibrant community atmosphere define Venice’s unique residential landscape.
Luxury homes in Ocean Park, epitomize coastal living, and with a median sale price of almost $1.9 million, these residences showcase a fusion of contemporary design and beachside charm. Expansive windows, high-end finishes, and proximity to the ocean create a harmonious blend of upscale comfort and the laid-back vibe of the neighborhood.
Mar Vista, known for its blend of modernity and neighborhood charm, showcases a blend of modern style and casual elegance. These residences often feature open layouts, high-end finishes, and inviting outdoor areas. Mar Vista’s neighborhood charm combined with upscale living creates a unique and appealing residential experience in the heart of Los Angeles. Homes in Mar Vista are also set at premium prices, with a median sale price of almost $1.8 million.
Lastly, with a median sale price of almost $1.6 million, Sunset Park offers upscale living in a laid-back coastal setting. Characterized by a mix of architectural styles, these residences boast modern amenities, stylish interiors, and inviting outdoor spaces.
1. Smart home technology
Luxury homes are typically equipped with smart home technology to enhance convenience, comfort, and security, and luxury homes in Los Angeles are no exception.
Luxury homes will usually have smart home features like Nest control, a dual-zone climate management adjustable via phone or central systems, showcasing a seamless blend of comfort and innovation. The incorporation of Cat 5 Ethernet connectivity ensures high-speed communication, meeting the demands of present-day digital requirements and enabling efficient data exchange, streaming, and connectivity. You’ll also find enhanced security solutions, such as SimpliSafe and Ring capabilities, to offer peace of mind for homeowners. These technologies create a futuristic, efficient, and comfortable living experience that redefines the way you interact with your home.
2. Modern and contemporary style
Modern and contemporary design is popular among luxury homes in Los Angeles as it offers a harmonious blend of form, function, and visual appeal.
Picture a home that seamlessly blends modern and contemporary styles. Its exterior showcases clean lines, with a mix of materials such as glass, metal, and wood creating a dynamic facade. As you step inside, you’re welcomed by an open floor plan, emphasizing spaciousness and fluidity. Neutral color palettes dominate, punctuated by vibrant accents. Large windows invite abundant natural light, and smart technology seamlessly integrates into the design. Throughout the space, you’ll find a mix of textures, from smooth surfaces to tactile fabrics. Sleek lines, recessed lighting, trendy materials like Quartz and LVP, and minimalist design create an ambiance of refined elegance.
3. Floor-to-ceiling windows
Floor-to-ceiling windows are a growing luxury trend, meeting the rising demand for ample natural light. Luxury residences commonly feature expansive glass windows and doors, welcoming ample sunlight, and offering captivating views, harmonizing with the surroundings by embracing nature’s beauty indoors.
Beyond its aesthetic appeal, this design element transforms living spaces into inviting spaces, fostering a connection with the outdoors. The interplay of sunlight and architectural design blurs indoor-outdoor boundaries, creating an environment that enhances the visual allure of interior spaces.
4. En-suite bathrooms
The desirability of en-suite bathrooms in most or all rooms reflects a premium standard of luxury living. This feature offers unparalleled privacy and convenience, catering to the personal needs and preferences of each occupant. Luxury homeowners value this feature for its capacity to enhance comfort and accommodate guests with an upscale experience akin to a private retreat.
Luxury homes in Los Angeles typically have elaborate glass showers or open areas near soaking tubs that provide a spa-like experience. You’ll also find high-end materials such as marble or granite countertops, exquisite tile work, and premium fixtures. Features such as spacious walk-in showers with multiple shower heads, soaking tubs, heated floors, and smart technology for lighting and temperature control are often included to enhance the experience.
5. Backyard oasis
In the bustling landscape of Los Angeles, homeowners prize the “backyard oasis” as an escape from the city’s energy. With features like artificial grass, a cabana, and a pristine pool and spa, homeowners and their guests can forget their daily stresses and relax. A pergola adds an inviting touch, while a dry sauna and ice bath elevates the wellness experience. With LA’s pleasant year-round climate, a backyard oasis is the perfect place for homeowners to create their own personal sanctuary within the privacy of their backyard.
6. Open floor concept
Open floor concept typically merges the kitchen, living room, and dining area into one expansive area. This layout enhances the sense of openness, encourages natural light to flow freely, and fosters a more social and interactive environment. Open floor plans are known for their versatility, enabling easy movement and facilitating communication between family members and guests. They have become popular due to their modern and spacious feel, allowing for creative interior design and adaptable use of space.
The allure of the open floor concept, complemented by expansive sliding glass cantina doors leading to the backyard, is a top luxury home feature in Los Angeles. This design blurs the boundaries between indoor and outdoor spaces, capitalizing on the city’s mild climate and creating an effortless connection with nature. The doors create an expansive, light-filled ambiance, while the fluid transition enhances the sense of space.
7. Garage conversion
Customizing a garage gives homeowners the opportunity to tailor the space to their desire, whether that’s creating a private gym, a home theater, an art studio, or an ADU. Repurposing the garage allows homeowners to optimize their property’s functionality and aesthetics, often adding unique features like custom cabinetry, high-end finishes, and integrated technology.
If you’re planning to buy a home in LA, a local Redfin Premier agent will provide invaluable insights into the market, including an in-depth understanding of the neighborhoods, pricing trends, and available luxury properties. Their expertise ensures you find a home with the perfect blend of desired amenities. Or, if you plan to list your luxury property, a Redfin agent can guide you in making informed decisions to maximize its appeal and value, tailoring it to attract the most discerning buyers.
A landslide struck Laguna Beach’s Bluebird Canyon in 1978 — smashing cars, buckling streets and destroying 24 homes. An adjacent swath of earth broke loose in 2005, wiping out 12 more homes.
That wasn’t enough to keep Scott Tenney away. In 2010, Tenney and his wife, Mariella Simon, bought a 15-acre hillside ranch near the disaster area despite the listing warning that the property was on the site of an ancient landslide.
“We knew we’d have to do a bit of terracing and retaining, but California is what it is,” Tenney said. “It’s a dynamic place not just culturally, but geologically.”
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From an outside perspective, his might seem a confounding decision. But in Southern California it’s an extremely common one, because that geological diversity, as Tenney calls it, is not just the danger. It’s the allure.
Elevation has long been aspirational here — an escape from the urban flats.
Since settlers first started pouring in from the relative flatness of the East Coast and Midwest, they were captivated by California’s vertiginous landscape. Plein air painters flocked to capture the light of the arroyos. Health seekers sought the clean air of the San Gabriel foothills. Folk rockers found inspiration in Laurel and Topanga canyons. And the moneyed elite started building their houses higher and higher above the basin, forever seeking the trophy perch with the show-off view.
But that perch has always come at the risk of catastrophe. Homes slide into a gulch in Palos Verdes. Fires roar over the Malibu hills. A debris flow kills 23 people and destroys 130 homes in Montecito. Heavy snow traps thousands in the San Bernardino Mountains. And winter storms pull fragile bluffs into a rising sea.
These natural disasters so often occur where the tectonic plates collided and folded into beautiful vistas.
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While other regions may face only one main disaster threat — tornadoes in the Midwest, hurricanes on the Gulf and East coasts — California’s extreme topography brings siege from all sides: the ocean, the trees and brush, the sky above and the ground below. And oftentimes, the most attractive areas are some of the most dangerous.
A land of disasters
More and more people are crowding into the Wildland Urban Interface — the zone of transition between unoccupied land and human development. It’s where properties mingle with undeveloped (and often steep) land, and it’s uniquely susceptible to natural disasters.
According to the U.S. Fire Administration, this area grows by 2 million acres a year as people fan out to the edges of wilderness in search of affordable houses, more space or simply a break from life in the city. And California holds more homes in this dangerous zone than any other state in the country.
And prices keep soaring. It doesn’t matter if a house sits on stilts on the side of a cliff, if it’s a landslide complex slowly sliding toward the sea, or if it’s predicted to be knee-deep in water in a couple of generations — there will always be a buyer.
As Californians flock to risky areas, disasters take a greater toll. Over the last decade, the state has experienced 20 disasters that each cost at least $1 billion in damage from flooding, wildfire and extreme heat. Those 20 alone combined for 783 deaths, according to National Centers for Environmental Information.
According to the real estate listing database Redfin, the trend is nationwide. Last year, the country’s most flood-prone, heat-prone and fire-prone counties all saw more people move in than out. Redfin researcher Sheharyar Bokhari blames one primary factor: the housing affordability crisis.
“L.A. and most other coastal cities are expensive. With remote work becoming more of an option, people are finding they can have more space and finally afford a home if they move to riskier areas,” he said.
Bokhari said another L.A.-specific factor is development — mainly that there’s not as much being built in the city compared to the more rural areas surrounding it.
He points to the Inland Empire, which is typically more affordable than L.A. County. In Riverside County, roughly 600,000 homes face a high risk of wildfire, the most of any of the 306 high-fire-risk counties in the country. Despite that, the county’s population grew by 40,000 over the last two years.
Even if experts — and common sense — say to stay away from certain areas, Bokhari said that won’t likely happen because local governments aren’t incentivized to push people out.
“These disaster-prone cities need revenue and people paying taxes,” he said. “They just claim that they’ll be more resilient and take more safety measures going forward,” he said.
Where else would I go?
Since moving onto the ancient landslide zone, Tenney and his wife founded Bluebird Canyon Farms, which offers workshops and grows food for local markets. His time is split between that and taming the erosion-prone land beneath the farm.
To combat sliding land, Tenney installed a gravity wall, 200 feet long and 9 feet tall, to retain the hillside. In addition to grading the terrain to make the slopes gentler, he added powerful drainage systems and timber-and-concrete cribbing to keep structures in place.
The work never stops, and Tenney keeps a monthly schedule to keep up with tasks. Clear brush in spring. Clean storm drains in September. Inspect terracing every few months.
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“You can run but you can’t hide,” he said, adding that urban centers such as L.A. have their own laundry lists of things to worry about: crime, homelessness, etc. “You won’t experience a wildfire in downtown L.A., but there are plenty of other things to be concerned with.”
Cribbing systems used by Tenney have become commonplace in Portuguese Bend, a small coastal community on the Palos Verdes Peninsula situated on a slow-moving landslide complex. Land moves up to 8 feet a year, and at that rate residents would rather ride the sliding earth toward the sea than sell and move somewhere else.
“I’ll be here until I can’t be here anymore. I’ll slide away with the land,” Claudia Gutierrez told The Times in July after a nearby landslide in Rolling Hills Estates sent a handful of homes careening down a canyon.
Peter James Cavanna, a resident of the private community of Portuguese Bend, is dealing with the shifting foundation of his home. He intends to stay.
(Carolyn Cole / Los Angeles Times)
You’d think the real estate market in disaster-prone areas would eventually slow down, but there are no deals to be found for house hunters. Longtime residents often stay put post-disaster, and incoming residents consistently pay a premium to live in a scenic, though potentially dangerous, area.
In cities tucked among the foothills of the Verdugo and San Gabriel mountains such as Altadena and La Cañada Flintridge, buying in a high-fire-risk zone might be ever-so-slightly cheaper than buying in a safer place. And buyers pounce.
“My clients try to choose low-fire-risk zones, but if the house in the fire zone is the right price, that is more important,” said Brent Chang of Compass.
When Lisa and Michael McKean got home to Malibu Park from their honeymoon on Nov. 8, 2018, they were so exhausted that they went straight to sleep. The newlyweds didn’t even bother unpacking their suitcases of swimsuits still wet with Caribbean saltwater.
When they woke up, Lisa looked out her back window and saw a 10,000-foot cloud of billowing black smoke.
The Woolsey fire was ravaging the Malibu hills.
The pair grabbed their still-packed suitcases and fled to the Zuma Beach parking lot, where they spent the day surrounded by horses, dogs, cats and neighbors all wondering if their homes would survive.
Theirs, built a year earlier, did not.
“The entire neighborhood burned,” Lisa said. “Everything was black, scorched earth.”
Michael and Lisa McKean’s Malibu house burning during the Woolsey fire in 2018.
(Lisa McKean)
Devastated, the pair spent six months crunching numbers on the cost of rebuilding versus moving. The home that was destroyed had taken four years to approve and three years to build. Their next one could take even longer.
Despite the damage, and despite the ceaseless, inescapable risk of a future fire, they ultimately decided to stay and rebuild.
Cheryl Calvert has lived in Malibu since 1985 and has adapted to a life of fire. To her, the flames are nearly routine.
“Once you make it through your first one, you realize it’s manageable. But you have to plan ahead,” Calvert said.
She keeps two bags packed at all times: one full of goggles and N95 masks and one with dog supplies.
Calvert has experienced plenty of fires during her time in the coastal community, but the worst was the Corral fire in 2007. She was in the driveway as the flames arrived, and she sprayed the corner of her wooden home with a hose as it ignited. Her guesthouse and garage burned down, but the house was saved.
She never considered leaving. Instead, she became more prepared, installing an extra water tank and leaving a pair of shoes by the front door at all times for quick escapes.
“We have to do crazy things, but it’s only crazy for an hour or two every five or 10 years,” she said.
She ran down the usual list of reasons why people move to Malibu: the beautiful landscape, the ocean breeze, the sweeping views. But she said the main reason her and so many of her neighbors stay is because of the community.
“We’re all living near like-minded people who are willing to risk themselves for each other,” she said. “It’s a bunch of hippies. Rich hippies.”
The psychology of staying
A life among the trees, coasts and cliffs is often what lures Californians to disaster-prone communities, but according to experts, the factors that make them stay after a disaster strikes are much more complicated.
Age, race and class can all indicate whether someone is more or less likely to move after experiencing a disaster. For example, Zhen Cong, professor of environmental health sciences at the University of Alabama at Birmingham, found that in the wake of tornados, the middle class might be the most inclined to move since the upper class has the resources to stay and rebuild, while the lower class is often trapped and has no other choice but to stay.
Other relocation factors include the level of damage to the home and whether the person owns the place or rents. But often the most important factor is one that can’t be easily quantified: “People who have a strong sense of place and a strong sense of community are less likely to move,” Cong said.
Ironically, some disasters can even encourage people who otherwise would have left to stay.
In studying post-tornado relocation decisions across the country, Cong found that after a disaster, people increase their disaster preparedness. Part of that includes gathering supplies, but it also includes social engagement: talking to neighbors, sharing information on social media and attending meetings. That engagement, which might not happen if a tornado doesn’t strike, brings a greater sense of community, leading people to stay in that community.
Anamaria Bukvic, an assistant professor at Virginia Tech who studies coastal hazards and population displacement, found that after Hurricane Sandy struck the East Coast in 2012, non-geophysical factors mattered the most in deciding whether to stay or leave. For example, confidence in adapting to future disasters was a more relevant indicator if someone would stay than how close they lived to the ocean.
“The experience of flooding can be emotionally disturbing and traumatic,” Bukvic said. “When facing problems, some people try to avoid them. Others try to resolve them.”
She added that confidence in government plays a major role as well. If a person believes the government responded well to the disaster and will keep them safe during the next disaster, they’re more likely to stay.
That’s something that Malibu Mayor Bruce Silverstein thinks about when overseeing the city’s disaster response plan. Although L.A. County is responsible for physically fighting the fires that plague the area, Malibu has instituted a free service in which residents can request a fire-hardening expert to inspect their property to better prepare them for the next blaze.
The city also outlaws certain types of vegetation susceptible to fire and tries to prevent excessive population growth in order to make evacuation from hills and canyons easier during emergencies. It’s the main reason accessory dwelling units (ADUs) are harder to build in Malibu than L.A.
“Unlike L.A., we don’t have standards that encourage growth,” Silverstein said. “We maintain the status quo and try to keep space between properties so if one catches on fire, it doesn’t extend to the neighbors.”
A fire crew walks through a field charred in the Agua fire in north Los Angeles County on July 26, 2023. The blaze burned more than 400 acres in Angeles National Forest.
(Myung J. Chun / Los Angeles Times)
Michael Dyer, a former Santa Barbara County fire chief who now serves as public safety director for Calabasas, said safety became a top priority for the city after Woolsey, energizing the community into forming multiple volunteer commissions that plan for disaster preparedness.
“We have to provide that service as a government,” Dyer said while monitoring a brush fire in Topanga from his front porch. “No one has forgotten Woolsey yet. And as long as I’m here, we won’t.”
No simple fix
As the climate crisis worsens and the Wildland Urban Interface grows in size, experts are eyeing ways to mitigate the effects of natural disasters to save both the environment and human lives.
L.A. is currently considering an ordinance that would limit development in the Santa Monica Mountains. Using recent wildfires and the Rolling Hills Estates landslide as examples, supporters said the measure would make it harder to build mansions and large hillside homes as a way to limit damage caused by disasters, as well as protect open space and wildlife.
In addition, national insurers such as State Farm and Allstate are no longer selling insurance policies in wildfire-prone areas after a series of catastrophic fires raised premiums. Without insurance, people might be disincentivized from buying and building homes in risky areas.
Redfin is also tinkering with a way to warn people of a home’s potential dangers. The company conducted an experiment in which it showed a listing’s flood risk score to certain users but not others and found that those who were shown the scores were less likely to bid on the home.
The scores have since expanded to show risk for fire, heat, drought and storms.
In the meantime, Californians continue to build, and rebuild, in disaster-prone areas. Lisa and Michael McKean, whose home burned down in 2018, moved back into Malibu Park in 2021.
As neighbors slowly filter back into the neighborhood, they walk around to measure progress and congratulate those who have returned.
“We used to hate cement trucks and jackhammers, but now we celebrate them,” Michael said. “The cheery sound of construction.”
Most first time homebuyers don’t set out to be landlords. But maybe they should.
That’s where multifamily homes come in.”Multifamily” can mean everything from shiny new duplexes to huge, old subdivided Victorians. And they have the potential to open up some interesting possibilities for the right buyers.
Why buy a multifamily home?
As a society, we have a lot of hang-ups about multifamily properties.
When your mental image of the traditional American dream has always been a large detached house and a yard for the dog, it can be easy to rush past the less attractive but objectively smarter options.
That being said, the average American moves about 11 times in their life—so don’t worry. Your first house probably won’t be your last. It can, however, act as a stepping stone to the one you really want.
Let’s take a look at a quick (and fairly simplified) case study.
Meet Jimbob and Lupita.
They’re just starting out. They’ve got decent jobs, and have really buckled down to save up enough for a down payment of about a 10%. In a perfect world, they’d like to quit renting and cut down on what they pay for housing each month—but they realized that might be asking a lot in their current market.
After getting preapproved by a lender, they’ve determined what they can spend on a house, and after much searching, they find two options.
Option one: a single family home
Jimbob and Lupita’s first option is cute little craftsman that could use a few cosmetic updates, but nothing serious. They’ll need to take out a $170,000 loan to pay for it, which—assuming a 30 year fixed loan and an interest rate around 5%—puts their monthly payment at about $900.
It’s close to what they’re paying for their current two bedroom apartment, but at least they’re building equity.
Option two: a duplex
While the duplex is at the very top of Jimbob and Lupita’s budget and would require a loan of about $210,000, it’s in good condition and needs minimal work. With the larger loan, their monthly payment will be right around $1100. Since they’re good with budgets, it’s still comfortable for them, but only barely.
Of course, that’s not the end of the story.
Though the home has a one bedroom unit and a two bedroom unit, Jimbob and Lupita decide to downsize a bit. They move into the one bedroom and rent out the two bedroom for around $900 a month.
Effectively, their mortgage payment shrinks to $200, leaving them room to pay off their home even faster or put money toward a new property.
Where to find multifamily properties
If Jimbob and Lupita’s hypothetical scenario sounds pretty sweet, fear not. You can get there too. It will require some extra math and legwork to do right, however. First up: finding the right property.
You can find multifamily homes anywhere you can find single family homes, whether it’s online through services like Zillow or through a local realtor.
But because of the nature of multifamily properties—that is, that they have higher occupant turnover and tend to be treated like the investments they are—there are other options to consider when looking.
Cold calling
Owners are a lot less attached emotionally to investment properties, and you’d be surprised how often they’re willing to sell if the price is decent.
A good tactic is to drive around the neighborhood you’d like to buy in and look for properties that could use a little work. That gives you both leverage when making an offer and some room to increase your investment (and your rent prices) with a little sweat equity after closing.
An even better tactic? Get in touch with landlords currently going through an eviction. Thanks to laws that help protect the rights of renters, evicting truly awful tenants is an expensive and time consuming process that can leave many landlords looking for the exit sign.
Luckily for a smart shopper like you, evictions are public records in most parts of the country. Just do some research as to how to get your hands on this info (it varies by area) and you’re golden.
Foreclosures and short sales
When owners can’t afford their house, it either goes back to the bank (a foreclosure) or gets sold for less than the outstanding loan amount (a short sale). Either way can mean a deal for the next buyer.
The one downside? The process of buying foreclosures and short sales can be fraught with legal issues and hidden costs. So while you might save some cash, the end result might not be as worth it as you expect.
Buying from a wholesaler
Wholesalers snap up property at a discount and then immediately sell it to investors. If you’ve tossed out traditional methods of property searching and are still reluctant to do the legwork yourself, consider searching a wholesaler out. Just be careful and really do your homework—not all wholesalers are good at their job.
What to look for in a multifamily home
Not all multifamily properties are built the same. While most of the factors you look for in a single family home (solid foundation, good school system, you know the drill), still apply there are some quirks that you need to pay attention to.
1. Location, location, location. Sometimes clichés get it right. Location is going to have a lot to do with what kind of properties and tenants you can find, not to mention how much you’ll pay and how much you’ll be able to charge for rent. This is one area where it really pays to buckle down and do some research.
2. How many units? The more units, the more rent money. Of course, the math is not quite as simple as that. More units means more work for you, more cost when things go wrong, more complicated taxes (take a gander at all the tax rules here), and more difficulty qualifying for loans. Above 4 units, and you’re automatically ineligible for some programs. For first-time buyers, a duplex is always a solid choice.
3. A polite, timely tenant. Yup. You heard right. In some situations, your property might come with a tenant or two already installed, and since a sale doesn’t generally alter a tenant’s lease, you’ll want to make sure they’re up to snuff.
4. Resale value. While not quite as important as other factors on this list, any homebuyer would be remiss to not consider what happens if they decide to sell. Demand for multifamily homes is typically lower for a multitude of reasons, so be certain you won’t need to dump the property in a hurry, or risk doing so at a loss.
Financing your new investment property
Most people will tell you that financing an investment property is tricky. And they’re not exactly wrong.
If you’ve done your math right, though, the extra hassle is more than worth it. That’s because you can count your a portion of your projected rent as income, making it easier to qualify for a larger loan.
Though exact requirements will depend on the lender you work with, here are a few of the key differences you could encounter:
Higher down paymentr required
Higher credit score required
Properties with more than 4 units will not qualify for Government loans
Higher conforming loan limits, depending on number of units
Why occupy the property at all?
Wondering why you shouldn’t just rent out the whole thing and rake in that sweet, sweet rent money?
If this is your first time buying a investment property, occupying one of the units—at least for a little while—is in your best interest. The reasoning for this is twofold.
First, it allows you to see how you like being a landlord. Maybe it’s a sideline that really fits with your lifestyle, or maybe it’s actually kind of a pain and additional rental properties won’t be in the cards. Either way, the risk is minimal.
Second, there’s a good chance your lender will offer you a lower interest rate if you live in the property yourself.
When you give it some thought, it makes sense. If a person falls on hard times, which of their mortgages are they most likely to pay—the mortgage for their rental property, or the one for the home where their family lives?
Of course, you can make the most of it by planning on occupying one of the units yourself. The more a bank trusts you, the less you’ll pay. Plus, as an owner-occupant, you’ll also be allowed to make use of an FHA loan, which is specifically created for first-time homeowners, with benefits like a lower credit threshold and options for down payments as low as 3.5%.
Acting as neighbor/landlord
Okay, so you’ve done your homework and determined that a multifamily property could work for you financially. Awesome.
But what about that whole landlording thing? How does that work?
If you’re trying to wrap your head around the landlord part of the equation, we’ve got a great post on the basics of being a landlord that covers everything from setting rent to attracting tenants.
However, if you’re planning on occupying the property yourself, there’s also the neighbor part of the equation to consider. While it’s great to be friendly with your neighbors, you should always keep in mind that this is primarily a business arrangement and act accordingly.
Here are a few tidbits to keep in mind:
Make your requirements regarding things like noise level and communal outdoor spaces clear in the lease agreement.
Document any changes you decide to make to the lease–verbal agreements won’t help you in court.
Avoid throwing your power as landlord around unnecessarily. It doesn’t exactly make for comfortable living situations.
Study up on your rights as landlord as well as the rights of your tenants. Knowing your stuff can make conversations much smoother and keep you from getting sued.
Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to [email protected].
Q1. Sara and Greg from St. Cloud MN: Hello Brian, Our question might need the help of a marriage counselor but it’s real estate related so we thought we would ask for the pros and cons first. We’re in our late 20s and have been saving to buy a home since before we got married 2 years ago. We talked a lot about starting a family and having a yard for children but didn’t talk much about the specific house we wanted until just a recently. Turns out we couldn’t be further apart on what we want in a home. I want a charming older home, maybe from the 1920s and Greg wants a new home with all of the modern amenities and new technology. What are the pros and cons of each?
A1. Hi Sara and Greg. First off, I’m not a marriage counselor (twice divorced) so I’m only answering from a real estate perspective. Buying a home is such a personal choice that you’ll need to find another way to work that out.
The pros and cons really depend on your prospective and preferences. Older homes tend to cost less to purchase but can be much more expensive to maintain and costly to remodel if they haven’t had a major face-lift in a few decades. Still there are advantages such as older homes often have much larger lots and even acreage. Older homes will have mature landscaping (that may need serious pruning), while new homes may not have any landscaping, particularly nothing in the backyard.
If you’re buying brand new, you’ll have several floor plans to choose from, be able to pick the colors, and have some say in the modern appliances that come with it. While a DIY repainting project for an old house is relatively inexpensive, upgrading to modern appliances can easily cost $30k to $40k. Keep in mind that most young couples are a bit cash strapped for a year of two after buying their first home. You may need to live with the old appliances for a while. Even before you get to the appliances, make sure you know what is going on with the utility systems. Houses from the 1920s had dangerous electrical systems but most were upgraded decades ago. You’ll also want to know the age and condition of HVAC, plumbing, roof, foundation, possibly water well and septic, etc. If these have been upgraded and maintained over the years, you probably won’t have problems. Still, you’re going to want a good Home Warranty plan. Brand new homes shouldn’t have problems with these systems and should come with a warranty from the builder.
Modern amenities are usually a big deal with older homes. Don’t expect a TV cable outlet in every room and you’ll probably find fewer electrical outlets than you’re used to. You can mostly forget internet, surround sound, and security system cables being buried in the walls (think about going wireless when remodeling). Still, if you’re planning a major upgrade, you can have these done to your own preferences and still have the elegance of a sturdy old home.
There are other things you want to consider. Older homes sometimes have lower property taxes because of a lower value and maybe because of the neighborhood. The neighborhood is almost certainly fully developed which means it isn’t likely to experience growth and changes that can come with new developments.
It’s all about trade-offs. Older homes that have stood the test of time come with a quality and timeless beauty that you don’t find in new construction. On the other hand, newer homes are built to more exacting standards such as fire safety and energy efficiency. However, newer homes tend to have veneer finishes rather than old-growth solid wood. Many new homes have had that veneer pulled back over the years to reveal substandard building materials or shoddy workmanship.
Sara and Greg, I hope this helps you better understand the major differences between purchasing a new –v- old home. Ultimately it’s a big decision that you’ll live with for many years.
Readers are encouraged to comment with their thoughts and experiences about what should be consider when comparing old and new homes. Our weekly Ask Brian column welcomes questions from readers of all experience levels with residential real estate. Please email your questions or inquiries to [email protected].
Author bio: Brian Kline has been investing in real estate for more than 35 years and writing about real estate investing for 12 years. He also draws upon 30 plus years of business experience including 12 years as a manager at Boeing Aircraft Company. Brian currently lives at Lake Cushman, Washington. A vacation destination, a few short miles from a national forest. With the Pacific Ocean a couple of miles in the opposite direction.
Brian Kline has been investing in real estate for more than 30 years and writing about real estate investing for seven years with articles listed on Yahoo Finance, Benzinga, and uRBN. Brian is a regular contributor at Realty Biz News
Inside: Are you moving into your first apartment? Planning a move can be daunting, but with this checklist, everything will be ready for your bed and bathroom you arrive. From a mattress, pots and towels to cleaning supplies and furniture, this list has it all. This is a huge deal!
Moving into your first apartment is an exciting time!
You’re finally out on your own, and you get to decorate and furnish your space however you want.
But before you can start shopping for all the cute home décor, there’s one very important task that needs to be taken care of first: creating a First Apartment Checklist.
This comprehensive checklist will ensure that you don’t forget any essential items when furnishing your new place. From kitchen supplies to bathroom necessities, we’ve got you covered.
So what are you waiting for? Let’s get started!
My First Apartment Mistakes
Moving into your first apartment indeed marks an exciting milestone in life.
However, it is also a moment of awakening when realizing that filling the apartment with all the necessities is not child’s play. My lesson learned the hard way.
It requires great planning and acute mindfulness of one’s budget. While the thrill of setting up your own place can easily lead to overspending, it’s important to keep the budget in check and be judicious about your purchases.
Here are some aspects to consider:
It’s easy to forget that there’s a huge list of big and small things you’ll still need to buy to fully equip your space. However, the keyword here is “need” and not “want”. I should have been better at differentiating between what is absolutely necessary for your immediate living situations and what can be procured later.
Define what you can spend right away by considering the moving costs and other related expenses. After setting the budget, the next most important step is to stick with it. You will be tempted to stretch your limit, but remember that financial restraint is key.
Moreover, remember that you don’t need to get everything right away, certain things can wait. Spend wisely, and stick to immediate needs. You might be surprised to find out that some items you thought were essential, in fact, can be comfortably lived without.
Your home is meant to give comfort, not financial stress.
The above statement is a lesson that stick with you for a long while. Keeping track of your expenses and making wise decisions can help establish your first apartment without breaking the bank.
Learn is $5000 enough to move out?
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Big Items for Your First Apartment Checklist
You’re finally out of your parents’ house and ready to start your own life. Congrats!
This is an important step when you want to move out at 18.
Moving into a new place is both exciting and daunting. To help you make sure you have everything you need for your new digs, we’ve put together a first apartment checklist of all the big items you’ll need to buy.
This is where to focus your money or look to find free items.
1. Mattress
Living in your first apartment?
Do not underestimate the importance of a good mattress.
It’s the foundation for quality sleep, which is crucial for your health and daily performance. Investing in one is non-negotiable even if budget is a constraint.
Personally, this. is the one item I would say to buy new! Thankfully you can find affordable mattresses now.
2. Bed Frame & Headboard
You may be tempted to skip the bed frame in your first apartment, but it’s a key piece that offers myriad benefits.
In full honesty, I didn’t get a headboard for my mattress until well after I was married. But, it was one small thing that made me happy.
Popular bed frame options vary in price from $60 for a simple metal frame to over $200 for wooden or upholstered models. Make sure to evaluate your needs and budget before buying.
3. Couch
Your first apartment is exciting, and the right couch can really set the tone. It’s not only a seating arrangement but also a place for relaxing, entertaining, and unleashing your personality.
When setting up your first apartment, you might be conflicted about whether to buy a new couch or look for a used one. Here are some factors to consider:
For those living by themselves:
A new couch can be a significant investment, but it is worth the cost if you value personal comfort, hygiene, and aesthetics.
Utilize discount stores to find quality furniture that is within your budget. A new couch often comes with warranties or protection plans that can give you peace of mind for any potential repairs or damages.
Investigate measurements and delivery options thoroughly to ensure your new couch comfortably fits your apartment layout.
If you are planning to live with a roommate:
You can consider getting a used couch. This is a great way to cut costs during a time when budgeting and saving money are important.
To make sure the couch you’re acquiring is clean and pest-free, buy or get it for free from trusted sources. Friends or family are often the best people to approach when looking for used furniture.
Look into garage sales or online platforms like Craigslist for options. However, always inspect the couch thoroughly before purchasing it from these sources.
Whether you choose new or used, ensure that the couch fulfills your needs.
4. End Tables and Lamps
End tables and lamps are essentials you need in your first apartment. They offer functionality along with a touch of class to your space.
There are many reasons why they should be on every first apartment checklist.
Versatility: Side tables can be used in various ways, from serving as a coffee holder, providing a place for books and magazines, or showcasing photo frames and indoor plants. It can also function as an extension of your workspace when you need to create an impromptu office setup.
Convenience: Having a side table next to your bed or sofa allows you to have important items within easy reach. This may include your phone charger, eyeglasses, or remote controls.
Decorative Value: Side tables contribute to the aesthetic appeal of your living space. They come in different styles, shapes, and designs that can complement various types of interior décor themes.
More than likely with lamps, you will notice where you need them the most after you move. So, it is okay to wait and buy them.
5. Dining Room Table
Your first apartment isn’t complete without a dining room table. It’s the multi-tasking hero of your living space, essential for meals, socializing, and possibly working or studying.
Finding the right dining room table for your apartment can be a fun and rewarding experience. However, it may be daunting for some, given the myriad of options available in the market.
Here’s a step-by-step guide to help you find your ideal fit:
Determine the Size Needed: The first step in finding the right dining room table is to measure the space it will occupy. Knowing the size helps narrow down the options and ensures a comfortable fit. Consider the number of people you plan on hosting on a regular basis – that should dictate the size of the table you need.
Consider the Shape: Dining tables come in various shapes, including square, rectangle, round, and oval. Identifying the shape that suits your space and lifestyle is crucial. Rectangular tables are the most common, but circular ones are great for maintaining an intimate dining experience, while an oval one can be a middle ground between a square and a round table.
Decide on Style: Whether you lean more towards a modern, contemporary, or rustic look, there are countless styles of dining tables to choose from. Ensure that the style of the table resonates with the rest of your home decor for a harmonious look.
Remember, choosing the right dining table is a balance of both form and function. Considering these aspects will surely help you find the dining room table that fits your lifestyle and space.
A good friend of mine had great luck finding a dining room table at a Restore resale shop. Something to definitely check out!
6. Kitchenware
Moving into your first apartment often comes with the challenge of equipping your kitchen efficiently.
To help guide you in making thoughtful purchases without breaking the bank, here are some important kitchen items you should consider investing in.
Basic Cooking Equipment: A Starter kitchen at the bare minimum requires at least two pots and a frying pan. These should be supplemented with necessary cooking utensils like a ladle, spatula, whisk, etc. You also need a high-quality knife set, at least one cutting board, and measuring cups and spoons to help you prepare and portion your meals accurately.
Food Storage & Serving Items: Get microwave-safe food storage containers to store leftovers efficiently. Additionally, invest in a good set of plates, bowls, glasses, and coffee mugs.
Countertop Appliances: While these can be a bit costly, consider getting a microwave, an InstantPot, and a coffee maker. These can vastly simplify and speed up your daily meal prep.
These are the basic items for a minimalistic kitchen.
7. Patio Furniture
Patio furniture can be an excellent cost-effective addition to your first apartment. Often overlooked, patio furniture can provide advantages for a first-time tenant:
Getting patio furniture as hand-me-downs or buying used ones can save you lots of expenses.
Plus patio furniture can be easily refurbished or painted to match your apartment’s interior design. You can showcase your creativity and add a personal touch without spending much.
8. Grill
One must-have in your first apartment is undoubtedly a grill. Nothing beats the flavor of a good grill and it’s perfect for friendly gatherings or quiet evenings.
Having a grill can add a sense of fun and adventure to your living situation. It allows for new culinary experiences and outdoor entertaining, especially during warmer months when you can have a delightful barbecue party in your yard or balcony.
Grilling can also act as a social catalyst. Whether it’s a relaxed summer evening cookout with neighbors or a gathering of friends for a sporting event, grilling can bring people together in a fun and casual way.
Thanks to websites like Craigslist, eBay, and Facebook Marketplace, second-hand grills in good condition are often available locally and at a much lower cost than brand-new grills.
9. Storage Items
Stepping into your first apartment, huh? The organization will be your closest ally.
Crisp and neat storage items can help you stay clutter-free and make your space feel like home.
This is something I would wait to buy until you are in your space and know what you need. There are so many storage ideas and organization items.
10. Decor
Making your first apartment feel like home is both exciting and challenging. Decor plays a crucial role, transforming an empty space into a cozy, personal refuge.
You want the decor to reflect your style, but the cost may be more than you can afford.
Enter thrift shopping for some of your favorite items.
You can always splurge on that one item you want!
How do I prepare for my first apartment?
Getting your first apartment can be incredibly thrilling, but let us guide you through a smooth transition.
Before making any purchases, it’s critical to create a budget that takes into account moving costs and other associated expenses.
Additionally, make a checklist of essential items to ensure a smooth move, but remember to prioritize immediate needs as some items may not be necessary initially.
Being prepared and methodical about your approach can help significantly in making your first apartment feel like home. It’s all about spending wisely and sticking to your plan.
First Apartment Checklist for Bedroom
Ready to move into your first apartment and need help setting up your bedroom?
This checklist will ensure you won’t miss any essentials.
Bed: Choose a full or queen-size bed to maximize space.
Mattress: Select the right firmness for your sleep style. Don’t forget a mattress pad and bedding.
Nightstand: You need this to place essentials like a reading lamp and a glass of water.
Dresser: An essential piece of furniture for your clothing storage.
Lamp: A softer lighting option for your bedroom. Don’t forget light bulbs!
Closet Organizers: Invest in baskets or cloth storage cubes for easy organization.
Desk and Chair: A small workspace if your room allows. Opt for a stool or folding chair to save money.
Remember every space is unique, tailor this list to your needs and budget.
First Apartment Checklist for Kitchen
As you embark on your solo living adventure, setting up your kitchen shouldn’t be a brain tease.
Here’s a lifesaver list of must-haves:
Remember, your kitchen is not just for cooking, but for hosting toasts and storing eats. Cheers to your new apartment kitchen!
First Apartment Checklist for Living Room
When setting up your first apartment living room, remember to shop for these essential items:
A Cool Lamp or Two: Lighting is crucial. Pick unique lamps that add both light and character to your space.
Side Tables: Grab a couple; these provide additional surfaces for decorations or mugs of tea.
Storage Solutions: Think TV cabinets or bookshelves where you can neatly store your belongings.
Extra Seating: More seats for more guests.
Window Treatments: Curtains or blinds not only offer privacy but can also tie a room together.
Decorative Pillows and Throw Blankets: For aesthetics and comfort.
Decor Items: This includes wall art, picture frames, coffee table books, houseplants, candles and vases. Make your space you.
Be smart in your selections, ensuring each item marries functionality with aesthetics. Holistic harmony is key in a living space.
Technology for Your First Apartment
In today’s digital era, modern apartments are nearly incomplete without a range of essential tech items.
These add convenience, entertainment, and a sense of security to your cozy abode.
Smart TV: This is essential for entertainment and relaxation. It can be a source of news, sports, movies, and shows that make your apartment a much more enjoyable living space.
Roku Stick: If you opt for a basic TV, then these devices enable you to stream content like Netflix, YouTube, and Hulu directly to your TV. This is much needed if you prefer digital streaming over traditional network channels.
Computer / Laptop: This is useful for work, learning, entertainment, and communications in the current digital era. It helps you stay connected to the world and perform various tasks easily.
Wifi Router: A Wi-Fi router is a must-have in this age as it provides an internet connection for all your devices. It enables you to stay connected to the world, shop from home, stream entertainment, or work remotely.
Chargers: Chargers for phones, laptops, and other electronics are essential. They keep your devices powered up and ready for use at any moment.
Speakers: They enhance your entertainment experience by providing high-quality sound for music, TV shows, and movies. They can also be useful for work or study, for instance when participating in video conferences or online courses.
Thankfully prices have dropped significantly on TVs since I bought my first one!
First Apartment Checklist for Bathroom
One key area to consider is your bathroom – it’s essential to have all the basis to make your daily routines smooth and simple. Here’s what you’ll need:
Cleaning Your First Apartment
Ready to take that first crucial clean sweep in your very first apartment? Here’s how you’ll nail it!
Start with unpacking your cleaning essentials, preferably even before you start arranging your furniture. This will make it easier to spot dust, stains, and dirty spots that are usually hidden.
Now, let’s dig into your basic apartment clean-up kit:
Honestly, these frugal green items are perfect to keep things clean and on budget.
Things you need for an apartment that you wouldn’t think of
Moving into your first apartment is an exciting milestone, but it’s also full of small details that are easy to overlook.
Some essential items might not make it on your moving checklist, leaving you scrambling on your first day in your new place.
Basic Handyman Tools: A Leatherman or small toolkit is essential for assembling furniture and making minor repairs.
Hangers: You’ll need more of these than you think for your wardrobe.
Extension cords and surge strips: You’ll need these to plug in all your electronics in spaces with limited outlets.
Drawer organizers: Helps keep your belongings categorized and easy to find. Especially important in small spaces where efficient storage is key.
Flashlight: You never know when a power outage may happen. A flashlight is a crucial tool for safety and navigation in the dark.
Batteries: Handy for various gadgets like remote controls, flashlights, and smoke detectors.
First aid kit: Accidents can happen anywhere, and having a first aid kit handy can make dealing with minor injuries easier and more efficient.
Light bulbs: Essential for maintaining good lighting in your apartment. You don’t want to be left in the dark when a bulb burns out.
Matches and/or lighters: Useful not only for candles and gas stoves but also a necessity in case of a power outage.
Pen and paper: Although we live in a digital age, pen, and paper are still handy for jotting down quick notes, lists, or reminders.
Fire Extinguisher: Better to be safe than sorry!
Carbon Monoxide Detector: Extremely important to have in your apartment
Duct Tape: It solves every DIY project – while almost any.
Security Cameras: It bums me out completely to add this to the list, but in today’s society it is a must-have.
Renter’s insurance is instrumental for various reasons
It provides financial protection in case of unforeseen circumstances like theft, damage due to disasters like fires, or liability if someone gets hurt in your apartment.
Additionally, considering the value of electronics, furniture, clothing, and other personal belongings, investing in renter’s insurance helps safeguard one’s possessions, making it invaluable, especially for first-time renters.
How do I budget for my first apartment?
Managing your expenses while moving into your first apartment is crucial since it’s usually an expensive endeavor with many large and small essentials needed to fully complete your home.
Having a budget not only helps you to control your finances effectively but also assists in prioritizing immediate needs, avoiding unnecessary items, and managing moving costs and related expenses.
Step 1: Make a Budget
Budgeting is, unquestionably, a crucial strategy to manage your personal finances efficiently, particularly while setting up a new apartment.
Begin by detailing your annual net income.
Subsequently, list down all your essential expenditures, such as food, household supplies, phone bills, car payments, credit card bills, clothing, transportation costs, internet charges, healthcare expenses, school loans, and entertainment.
Don’t forget to add a section for “miscellaneous” to cover any unanticipated expenses.
Make sure your expenses are less than your income.
While rent will be your biggest expense, you want to make sure you can truly afford the amount without going broke.
If you observe that your expenses are relatively high, it’s time to analyze your spending patterns and cut down on unnecessary spending.
Step 2: Save Money
Saving money and living frugally requires strategic thinking and discipline.
Honestly, the simplest thing you can do is to set aside 20% of your income each paycheck. That will ensure you are on your way to becoming financially independent.
Simply remember, frugal living doesn’t equate to deprivation, it’s about making informed choices to optimize your resources.
The 100 envelope challenge is extremely popular!
Step 3: Start a Side Hustle
Side hustles can be a flexible and rewarding way to supplement your income, and they’ve become much more popular in recent years.
Manage your time wisely and ensure the side hustle is something you enjoy or are passionate about. It should be a source of additional income without causing stress or burnout.
Here are ways to make money online for beginners.
First Apartment Tips
Embarking on the journey of renting your first apartment can be both exciting and daunting, hence having some essential tips can be quite handy.
1. Make a list of apartment essentials
A list of apartment essentials plays a crucial role, particularly for first-time movers.
The benefits and significance cannot be overstated. Here’s why:
Prevents Overspending: Moving into a new apartment is already expensive. There are lease deposits, rent due, utility set-ups, and other hidden expenditures that can easily catch first-time movers off guard. Having a list of apartment essentials can keep your spending in check, ensuring that you only purchase what’s necessary and avoid unnecessary or impulsive purchases.
Minimizes Stress: The task of moving can be overwhelming, and missing essential items only adds to the stress. A well-thought-out list can not only help you keep track of what you’ve already acquired but also what you need to purchase or source.
Ensures You’re Prepared and Organized: By carefully creating an apartment checklist, you’re ensuring that you have everything you need in your new home, from cleaning supplies and toilet paper to the necessary items for your furry friends.
Saves Time: A concise and focused list saves you time by clearly stating what needs to be acquired, allowing you to focus on other important matters related to the move.
Follow this approach, and you’ll have a comfy, well-equipped apartment in no time.
2. Consider your budget
Experts advise rent shouldn’t exceed 25-30% of your income. But, don’t forget to include your other costs like food, bills, loans, etc
Remember, your dream apartment isn’t worth it if it’s a financial nightmare. Think smart, save hard, and enjoy your new home’s comforts without breaking the bank.
Learn the ideal household percentages.
3. Research apartments
Researching apartments requires careful consideration of numerous factors such as the proximity to vital facilities like workplaces, grocery stores, hospitals, and entertainment joints.
Try to physically tour potential residences where possible to examine amenities and gauge the atmosphere of the neighborhood.
Don’t forget to make inquiries and view the apartment personally or through a floor plan, all these will help you make a wise decision.
4. Check apartment listings for features and amenities
When searching for the perfect apartment, consider features and amenities that align with your lifestyle.
If there is a sym space, you could eliminate your monthly gym membership.
Just make sure the cost of the upgraded amenities is worth the price tag.
While checking apartment listings, ensure to evaluate the location, amenities, available space, and physical integrity.
5. Think about the size and layout of the apartment
Understanding the size and layout of your new apartment is crucial before you start styling and furnishing it.
Acquire a floor plan from the apartment management, and if possible, tour the apartment physically to note the positioning of rooms, doorways, hallways, and stairwells. Take measurements of these areas and visualize the kind of furniture and fixtures they can accommodate fittingly, taking into account maneuverability around corners as well.
Moving to your first apartment is exciting, yet demands careful consideration of the size and layout.
6. Look for apartments with good security
When you’re hunting for your next apartment, don’t forget to check out its security features. This is crucial for your peace of mind.
Ensure the apartment is in a safe neighborhood, close to amenities like hospitals or public transport.
Ask if the apartment complex has features like controlled access gates, security guards, and CCTV surveillance.
Check the apartment for proper alarm systems, well-functioning locks on doors and windows, and that fire safety measures are in place.
Verify the cell phone reception inside the apartment for any emergency calls.
Lastly, always ensure that the parking area is secure and well-lit.
Remember, your apartment isn’t just a place, it’s your sanctuary. It should feel like one, too.
7. Make sure you get a good deal
Before signing a lease, it’s crucial to ensure the rent price is a good deal.
According to the U.S. Census Bureau, the median gross rent from 2015-2019 was approximately $1,097 per month.
8. Talk to the management and make sure you understand the rules
Get to grips with your apartment’s rules by thoroughly reading your lease. Take note of any restrictions, and don’t fear to ask for clarifications. Data indicates that understanding lease terms significantly reduces tenant-landlord conflicts.
It is important you understand your lease as it is a binding contract.
First Apartment Checklist PDF
Moving into your first apartment is exciting but daunting. The First Apartment Checklist PDF helps simplify the process.
Take it at your own pace—don’t rush. This is your journey to your new home. Enjoy!
FAQ
Moving into a new apartment can be quite exciting yet daunting. It’s crucial to carefully inspect the space to ensure it meets your needs and is in optimal condition.
Check the overall cleanliness. Despite initial cleaning, apartments often accumulate dust while vacant. Ensure you have cleaning supplies handy to tackle any overlooked dirt or grime.
Inspect the utilities. Ensure the availability of necessary technology setups and provisions for all your electronic gadgets. And make sure no wires are hanging from the ceiling.
Verify the safety features. Always have a working lock on the door as well as a well lit entrance.
Examine appliances. Make sure essential household appliances like washers, dryers, and a dishwasher are provided and in working condition.
The comfort and safety of your new apartment rely hugely on these checks.
When determining how much you should spend on rent, it’s generally suggested that your allotment should be no more than 25-30% of your after-tax income.
For instance, if your yearly income after taxes is $40,000 per year, your rent should be about $833-$1,000 per month.
Keep in mind, this amount should cover:
Your rent
Utilities (unless they’re included in your rent)
Rental insurance
It’s essential to create a realistic budget by considering your other necessary expenses like food, transport, healthcare, and entertainment. If needed, find ways to cut some of these costs to afford your dream apartment.
Now Get Moving with your Apartment Shopping List!
In conclusion, creating and managing a first apartment checklist requires a judicious mix of prudence and patience.
It’s an exciting journey of setting up your first independent space but it’s also a test of properly managing your resources without compromising on your basic needs.
It’s crucial to remember that you do not need to get everything at once, and it’s okay to take your time to gradually fill your apartment.
Remember, be mindful of your budget and prioritize based on your specific needs and preferences.
And don’t forget, you’re not just setting up an apartment, you’re creating your own unique sanctuary.
With patience and careful planning, you’ll soon have an apartment that’s not only functionally equipped but also a reflection of your personal style. The experience, in the end, will prove to be as rewarding as it is educational.
Know someone else that needs this, too? Then, please share!!
Since the repeal of Don’t Ask, Don’t Tell, LGBT troops transitioning back into civilian life can access critical housing assistance benefits granted by the federal government to all of our country’s veterans.
As these service members transition out of military housing and into the civilian housing market, they should be equipped with the full understanding of what is available to them as part of their service to our country, particularly since the Federal Reserve’s 2019 Survey of Household Economics and Decisionmaking found that LGBT veterans were over four times more likely than non-LGBT veterans to report finding it difficult to get by financially.
One of the most important benefits available to LGBT veterans is the VA Home Loan program, which provides veterans with low-interest mortgages with no down payment required. This program can be a lifeline for LGBT veterans who may be struggling to save for a down payment or qualify for a traditional mortgage due to discrimination in the workplace or other factors.
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Unfortunately, many LGBT veterans may not be aware of this program or may face additional hurdles in accessing it. They may be hesitant to disclose their sexual orientation or gender identity to VA officials, out of fear of discrimination or harassment. They may also be unaware of the specific documentation and paperwork required to qualify for the VA Home Loan program, or may face challenges in finding a lender who is knowledgeable about the program and sensitive to their needs.
To address these challenges, we must do more to educate LGBT veterans about their rights and benefits. VA officials and mortgage lenders should be trained to provide culturally competent services and resources, such as LGBT-affirming housing counselors and financial advisors.
We must also work to address the underlying causes of the “rainbow gap” in homeownership. This includes advocating for policies and laws that protect LGBT individuals from discrimination in the workplace, housing market, and other areas of life, and that ensure that all individuals have access to the resources and opportunities they need to thrive.
Honoring the service and sacrifice of our LGBT veterans requires more than just words. It requires concrete action to ensure that these brave individuals have the support and resources they need to succeed in civilian life, including the ability to achieve the dream of homeownership.
Joseph Smith, U.S. Air Force veteran, and senior vice president of lending, CrossCountry Mortgage, Boston Shimmy Braun, senior loan officer, CrossCountry Mortgage.
Pass law to help ease shortage of mental health professionals
Thank you to Gerald “Jud”DeLoss for his recent op-ed urging our leaders to address the worsening shortage of mental health professionals by investing in bringing more people into the psychiatric professions.
As DeLoss points out, the shrinking pool of psychiatrists will spell serious trouble for cities and states trying to open free mental health clinics for the poor or uninsured. There simply aren’t enough doctors available to hire when the demand for psychiatric services is mounting. The current pool of 40,000 psychiatrists nationwide is expected to fall 27% by 2030, creating a shortfall of as many as 21,000 psychiatrists by that year.
As the former president of a Chicago chapter of the Depression and Bipolar Support Alliance, I can testify that members have had enormous difficulties finding well-qualified, affordable psychiatrists in a reasonable amount of time. Waiting periods stretched into months. Many doctors weren’t taking new patients. Other psychiatrists, disillusioned with reimbursements from insurance companies, were operating cash-only practices and refusing any insurance.
One implication was clear: The reopening of Chicago’s shuttered mental health clinics was more vital than ever.
What can government do to beef up the ranks of new doctors entering the pipeline, allowing cities to tap new talent for municipal clinics? For starters, Congress can pass the Resident Physician Shortage Reduction Act of 2023. This bipartisan measure would expand the number of Medicare-supported residency positions at teaching hospitals and medical schools nationwide. The result would be an expansion of young doctors, including psychiatrists, just when they’re needed the most.
Robert Kazel, Niles
Words do matter
Columnist Neil Steinberg showed his true colors recently by allying himself with FOP chief John Catanzara and a reporter over the use of the term “mob action” in describing the youth who allegedly looted a 7-Eleven.
The term was chosen to incite feelings against the Black teens who were charged as well as to bait Mayor Brandon Johnson. Steinberg can lecture while quoting the conservative Daily Mail and trying to squeeze some middle ground for himself, but he finally came down in support of the reporter and Catanzara’s use of a racially charged, if not outright racist, term.
Steinberg’s lame response to Black teens having nothing to do is to cite the stock answer: “everything — education, jobs, family, community. And law enforcement.” Law enforcement receives overwhelming funding while the other priorities are woefully underfunded and many times nonexistent.
Johnson is trying to correct this underfunding. He is right in saying we should not vilify these teens and need to provide constructive avenues for and with them.
Meanwhile, I wonder why very little was said about the youth at Lollapalooza.
Few industries require as much curbside appeal as real estate: it is a buyer’s market and competition is undeniably fierce. However, when it comes to establishing a memorable and appealing brand for your business, too many realtors fall back on cliched logos using sloping roofs and square windows, suspended in abstract space or agglomerated onto one another in physically baffling clusters. Or worse, they skip the logo altogether and go with tried-and-true photo on a business card approach.
Instead of taking the generic route, just follow some of these tips to create a unique and effective real estate logo.
Tip 1: Don’t just go with your favorite – or the most common – colors Just because you personally love the color pink, you shouldn’t necessarily gravitate there when designing a real estate logo. Nor should the fact that blue or green are fairly safe and common hues among realtor logos drive your choice. Instead, the most important element of choosing the colors for a real estate logo is ensuring they communicate the values and attributes that are most important to your brand. According to a recent analysis of real estate logos created on 99designs, realtors broadly identify their desired brand personalities as being luxurious, mature, modern and serious. This largely explains the prevalence of blue, black, and generally quite subdued branding in the industry.
Warm colors like yellow and orange rank relatively low in terms of popularity in the real estate industry, but they are a strong option for accenting given their associations with friendliness, comfort and happiness. After all, every prospective tenant or buyer is looking for a happy home, so it makes sense to capitalize on the emotional connection created by these colors.
Tip 2: Focus on a sense of place It’s not just about what property you’re selling, but where you’re selling. Consider what’s unique about the area you cover, whether it’s a neighborhood, a city skyline, or iconic architecture. Now imagine someone moving here from the other side of the country, or even the world. Don’t you want a logo that highlights what makes your properties special?
Tip 3: Consider creating a wordmark. One way to help clients remember you(or your company’s) name is to turn the name into the logo itself. This is called a “wordmark.”
What’s great about a striking wordmark is that it helps people remember the name even when they’re not holding your business card. If a former client has a friend or family member who’s looking to buy a new property, they’re that much more likely to recommend you over someone else if they can remember your name. In terms of style, a wordmark keeps things simple and classic, but also personal.
Tip 4: Don’t be afraid of the abstract. Sometimes the nature of your agency is ineffable. Or perhaps it’s always changing; that’s not too unusual in real estate. An abstract realtor logo allows you to be different and keep your brand identity consistent in an ever evolving market. But it doesn’t have to be totally abstract. It only takes a few lines to imply the shape of a skyscraper or a house, while still retaining the dynamism of an abstract business card.
Pamela Webber is Chief Operating Officer at 99designs, the global creative platform that makes it easy for designers and clients to work together to create designs they love. Earlier in her career, she served in various corporate strategy and marketing positions with eBay and its subsidiary, PayPal, Inc., True&Co, and other fast growing companies in the consumer Internet space. A resident of San Francisco, Pam received her BA from the University of Pennsylvania and MBA from Harvard Business School.
If you’re thinking about buying investment property or turning your own home into a part-time vacation rental, creating the perfect experience goes beyond surface-level aesthetics. It’s about capturing the essence of your property’s location, ensuring comfort and convenience, and adding personal touches that resonate with your guests. In this Redfin article, we dive into essential strategies to transform your short-term rental (STR) into a haven of relaxation and delight. From crafting a captivating first impression and infusing your unique personality into the design to practical tips on vacation rental maintenance and entertainment, we cover every aspect to help you excel in the competitive world of vacation rentals (VRs).
Discover how to curate spaces that resonate with the culture of your locale, whether it’s the beachy vibes of Oklahoma City or Katy, Texas. Learn from industry experts and seasoned hosts who share insights on interior design, hosting strategies, and the art of leaving lasting impressions. By the end, you’ll be equipped with the knowledge and inspiration needed to create a standout vacation rental that not only delights guests but also ensures their return for unforgettable getaways and more five-star reviews.
1. Make a memorable first impression
“A significant point of pride for us in our business is the warm welcome we extend to our guests, as you only have one chance to create an outstanding initial impression. The finer details hold importance; thus, presenting guests with a welcome basket of delights conveys the message, ‘we are delighted you’re here.’ Nothing quite embodies the essence of ‘welcome’ as freshly picked flowers from our local Farmer’s Market,” suggests Carlsbad & Oceanside Airbnb Rental Property Management by Grand Welcome.
“Additionally, we offer Carlsbad Water, popcorn, exquisite chocolates, and an array of teas. This is the same manner in which you would greet your own family; and we believe guests deserve nothing less. Moreover, we furnish premium quality soaps and toiletries that resonate with the calming oceanic vibes of the area.”
Courtesy of Carlsbad & Oceanside Airbnb Rental Property Management
2. Elevate your vacation rental’s design by adding in your personality and history
“Transform your Airbnb interior design by seamlessly weaving in distinctive elements that eloquently narrate your personality and the history of the locale. Embolden your space with striking accents, such as vivid hues and captivating lighting fixtures, to amplify its allure,” Hostaway. “However, exercise caution with an all-white interior, considering the upkeep expenses it might incur. Breathe vitality into the environment through the inclusion of indoor plants, but conduct thorough research to accommodate potential guest allergies, particularly among families with children and pets.”
3. Integrate visually tasteful features that are easy to maintain
“When selecting upholstery materials, it’s advisable to opt for options that are easily washable. For instance, when it comes to barstools, we recommend utilizing vinyl or leather fabrics. While incorporating plants into your spaces offers numerous benefits, relying on housekeepers to maintain their vitality can pose a challenge. This is why we suggest considering artificial plants, which provide a touch of contrast while maintaining a perpetually vibrant appearance,” recommends Stay Locations.
“Complying with local occupancy restrictions, whenever applicable, offering a sofa bed serves as an excellent strategy to augment the number of occupants and significantly boost your financial returns. Introducing integrations with remote door lock apps not only reduces the host’s workload but also enhances guest security by ensuring regular code changes.”
4. Decorate according to your location
“Part of a vacation is where you stay, so choosing an aesthetic that matches the location and why someone is visiting is important,” recommends KeyVest. “We specialize in vacation rentals along the Jersey Shore, so for our area we see a lot of beachy themes and color schemes. To get a classy look for any location, decorate with neutral colors and accent with the theme of your vacation destination.”
Courtesy of KeyVes
5. Hiring professional interior designers and photographers
“In this short-term rental market, professional interior design is essential if you want to remain competitive. Premier interior and exterior design paired with professional photography and standout amenities will not only get your property a higher average daily rate and occupancy rate, but it will make a long-lasting five-star impression on your guests to garner repeat bookings,” suggests Hometeam Vacation Rentals.
6. Capitalizing on your short term rental’s best features and targeting your audience
“As a local investor and property manager, the initial consideration revolves around identifying your target audience,” says Nathaniel Berger from Anchor Down Real Estate. “A crucial aspect involves conceptualizing the design of your short-term rental, taking into account the distinctive attributes your property possesses, and strategizing on how to leverage them effectively. Integrate these features into your listing to create a truly unique impression and distinguish your property from the multitude of alternatives in the vicinity. It’s essential to provide something memorable that will resonate with potential renters as they sift through countless photos during their quest for the ideal property.”
7. Partner with artists to upgrade your STR’s interior design
“At Casa Rooms, we believe in going beyond traditional property management practices. Our partnership with Sara, a local business owner, allows us to infuse artistry into our services, offering a truly unique and immersive experience,” shares Casa Rooms. “By combining our expertise in property management with Sara’s artistic talents, we create spaces that inspire and captivate tenants and property owners alike.”
Courtesy of Casa Rooms
8. Pay for guest subscriptions for seamless entertainment
“When people go on vacation, they don’t want to have to learn a new TV system. Or have to remember their login information for any TV subscriptions they might have at home (Hulu, Peacock, etc.),” says Leah Ingram. “That’s why we’ve installed Roku TVs in all of our vacation rentals (we have two in Maine). Also, we’ve purchased subscriptions specifically for guests. Then, we include instructions in our booklet on how to log in so they can watch their favorite shows without a hassle.”
9. Balancing aesthetics and comfort
“One common pitfall I frequently observe is hosts focusing on creating picture-perfect spaces for photoshoots, often overlooking the practical livability of the home. Guests might be enticed by stunning header images but could end up disappointed if the sofa proves uncomfortable, there’s a shortage of chairs for communal dining, or the pillows don’t suit their preferences,” shares Breathe Vacation Rentals
“Furthermore, a valuable piece of advice for hosts is to infuse their unique personality into the space. Embrace items like that antique hutch stored in the basement or the eclectic art collection amassed over the years. When done thoughtfully, these elements can serve as captivating focal points, setting your listing apart from the uniform offerings.”
Courtesy of Breathe Vacation Rentals
10. Go beyond what your guest sees on your VR listing
“Cover all the essentials in your well-equipped kitchen. Beyond providing cooking utensils and homeware, make sure to maintain a supply of basic pantry staples like salt, sugar, olive oil, and coffee. This added convenience is sure to be appreciated by your guests,” recommends Palm Springs Airbnb Vacation Rental Property Management by Grand Welcome.
“Go the extra mile by offering abundant linens for the entirety of your guests’ stay. Alongside fitting each room with fresh sheets, consider placing an additional set of properly sized sheets, pillowcases, and towels in every room. Your meticulous organization will save guests from the hassle of searching for essentials.
Design your property to cater to both your needs and those of your guests. Dedicate a portion of the home to private, secure storage for the homeowner. Utilizing a locked safe allows for the safeguarding of valuables and important documents, while also providing a discreet place to store maintenance and cleaning equipment.
Create the desired ambiance with a variety of lighting options for each guest. Maximize the use of natural light to create an inviting atmosphere. Overhead lighting presents an opportunity to make a statement with distinctive fixtures that highlight distinct living areas, such as a chandelier above a dining table. Floor-level lamps offer softer lighting for moments of relaxation.”
11. Design and decorate your VR as if it were your home
“Always stay at least one night in your own rental and do everything. Cook, bathe, shower… What would make it better? What finishing touches would add “thoughtful host” to the guest’s review? For inspiration, look through Architectural Digest or on Pinterest for design ideas to steer your purchases. Steal ideas, take risks, and have fun,” suggests the Walker Sisters.
“If you are in a beachy town, that’s probably a reason visitors are coming there, use light fabrics and natural colors to create a soft and airy feel. If you are in a big city, get inspired by the culture and neighborhood around you. Lean in, or go in an opposite direction – either way, your guests will enjoy a specific and curated vibe.”
Courtesy of Walker Sisters
12. Adding delicate nuances and thoughtful details goes a long way
“I believe what makes a VR design really powerful is the subtleties and the small details. It’s hard to pinpoint just one thing, but my recommendations would be to do something bold and beautiful. If you make a beautiful Airbnb, you will always be booked,” Stay Flourish says.
“For example, amber bottles with premium soap, high quality sheets, lucious plants, and fixtures that accentuate natural light. These seemingly small touches evoke a sense of personal touch and care. You didn’t just go for baseline functionality or cut corners to ‘just get by.’ You put intention into every nook and cranny as if it were your own home.”
Courtesy of Stay Flourish
13. Use a less is more approach
“A significant amount of effort goes into designing and maintaining vacation rentals. Our foremost objective when designing and furnishing vacation rentals is to create an ambiance that is consistently light, bright, and inviting,” Bluewater Vacation Rentals suggests.
“Our aim is for vacationers to experience a true home away from home, setting vacation rentals apart from hotels. Each property boasts a unique appearance while embodying a California casual aesthetic that appeals to visitors seeking the San Diego experience.
Furnishing vacation rentals demands a ‘less is more’ approach. Prioritize quality over quantity, offering essential amenities without cluttering spaces or overspending on unnecessary items.”
Owning a home comes with expenses other than a mortgage payment. One of those expenses is property tax, which is typically paid to local governments such as counties and cities or even some school districts. In fact, property taxes make up around 17% of state and local revenue, coming in above sales tax and individual income tax as a way municipalities earn money for programs including schools, libraries and roads. While property tax money does go toward important things, you obviously don’t want to pay more than you have to and might wonder why your property taxes are higher than your neighbor’s.
Find out more about how property taxes are calculated below. Then get some tips for potentially lowering your property taxes.
How Are Property Taxes Calculated?
Property taxes are typically a percentage or portion of the assessed value of a home each year. To figure out how much your property tax is, you’ll need the following:
The current assessed value of your home. You should receive information from your tax assessor’s office when an assessment is performed. Some municipalities send out an assessment value yearly. If you don’t have an assessment value, contact your city or county tax assessor’s office.
The percentage or amount of tax charged by your municipality. You can usually find this on the municipality or tax assessor’s website. For example, in Roanoke County, VA, real estate is taxed at $1.09 per $100 of assessed value.That’s a property tax percentage of 1.9%.
Once you have those pieces of information, you can figure out what your property tax might be. Let’s use the Roanoke County example above to understand how the numbers might work.
If you live in Roanoke County and your home has an assessed value of $200,000, the formula for figuring out the property tax would be $200,000 x 0.019. The amount is $3,800.
It’s important to note that property taxes are not calculated based on how much you paid for a home or how much you owe on it. The assessed value can go up or down depending on factors such as the state of the market, changes in the neighborhood or changes you make to your own home.
The tax agency responsible for collecting your property tax will send you a bill with the amount you owe. But knowing how it works helps you ensure your property tax bill is accurate.
In some cases, square footage can impact property taxes. That’s because square footage is generally a factor in how much your property is assessed for. More square footage—especially more livable square footage—could increase your assessment. That, in turn, can increase your tax.
So, how do tax assessors calculate square footage? They get information from the city or county or another reporting agency.
Does Lot Size Affect Property Tax?
Yes, lot size can affect property value—which in turn can affect your property tax. If your lot is substantially bigger than other lots in your area, that could mean your property tax is higher than your neighbor’s—especially if all other factors are equal.
Tips for Reducing Your Property Tax
Your tax bill isn’t set in stone, and you do have some options for disputing it or reducing your property tax in the future. If your property tax is more than your neighbor’s or if you’re just surprised by how much it is, check out some of the tips below to see if you can get it reduced. If these tips sound like good options for you, it might be worth working with a property tax professional to help make your case.
1. Start with Your Tax Assessment
Review your tax assessment to ensure it seems correct. When the value of your property changes, you should receive notice in the mail. If the value suddenly jumps and you see no reason for that to happen, contact the assessment office and ask for details. In some cases, you can get a detailed listing of how the value was arrived at.
Go through that information and find anything that looks wrong or off. Did the assessor assume you upgraded fixtures when you didn’t? Is the square footage correct?
If you can get facts like this corrected on the assessment, your assessed value might go down. That, in turn, lowers how much property tax you have to pay.
2. Get Involved with the Assessment
The sooner you get involved with the process, the easier things might be to correct. If you wait until the assessment is complete and the property tax bill is issued, it can be harder to dispute the amount for that year.
If the assessor walks your property or comes inside your home when valuing your property, make sure you’re present to answer questions. This can help reduce misinformation that could unnecessarily increase the value of the assessment.
In many locations, you don’t have to allow the assessor access to the inside of your home. In some areas, the assessor might not automatically ask for this. Contact your property tax office to find out if an assessor can come inside your home to get the most accurate picture of your property’s value.
3. Hire an Independent Assessor
If you’ve tried to work with the assessor’s office and still feel the value of your home is being inflated, you could hire an independent assessor. An assessment from a private company won’t automatically reduce your property tax, but it can be helpful if you plan to dispute the assessed value of your home.
4. Research the Assessed Value of Similar Homes in Your Area
This is another good step to take if you plan to file a tax appeal. Look for homes in your area with similar lots, square footage and amenities. If, for example, you have a home on a 1-acre lot with three bedrooms, two baths and 1,600 square feet, you’ll want to use homes that are as close to those specs as possible.
Look up the assessed value of those homes in public records or ask your neighbors for a copy of their property value assessment. If all the similar homes in your area are valued at around $200,000 and yours is valued at $275,000, a mistake might have been made that you can get corrected.
5. File a Tax Appeal to Change the Value of Your Home
Research how to file a property tax appeal in your location. First, check the property tax assessment letter to see if there are options or instructions for appealing it. Next, reach out to the assessor’s office and the property tax office for your municipality to find out more about the process. You may need to file forms and present documents, including independent assessments and comps—which are the assessed values of similar homes in your area.
6. Avoid Value-Increasing Improvements to Your Home
If you want to avoid increasing your property value—and thus your property tax—in the future, you could avoid home improvements that increase the value of your home. This is obviously a personal decision, and you’ll need to weigh the value of the improvement to your lifestyle with any potential increase in property tax before making a decision.
Don’t Forget Other Financial Matters
While you’re doing the work to manage your property taxes, it’s a good idea to take some time to review other financial matters. For example, make sure you know how homeownership is impacting your other tax obligations. And keep an eye on your credit score so you know where you stand should you choose to buy a new home or need a short-term loan to cover a surprise property tax bill.
In the dynamic housing landscape, having no rental history can often feel like a roadblock when seeking your ideal home. Whether you’re a first-time renter or moving to a new city like Albany, NY, the absence of a rental history might seem daunting. However, this unique situation shouldn’t deter you from finding a place that suits your needs and aspirations.
If you’re in the market for apartments or unsure where to begin, this Redfin article is here to help. We’ll walk you through everything from building trust with landlords to proving your financial stability, giving you the tools you need to snag that perfect apartment, even if you’re starting from scratch. Get ready to navigate the renting journey with confidence.
What is rental history?
Rental history is like a report card for your time as a tenant. It records where you’ve lived before, how long you stayed, if you paid your rent on time, and how you treated the place. Landlords use this history to decide if you’re a reliable renter. If your previous renting experiences have been positive and you’ve maintained a good track record, it’s akin to receiving a vote of confidence from landlords.
Where to start with no rental history
When faced with a lack of rental history, beginning your housing journey requires a strategic approach. The initial step should involve assessing your financial standing and gathering relevant documentation demonstrating your reliability. Creating a comprehensive rental resume detailing your employment history, references, and other positive credentials can establish this credibility.
What are ways to get approved with no rental history?
Applying for an apartment without a rental history can be challenging. However, there are ways to increase your chances of approval.
1. Provide references
Getting people who know you well, like friends, coworkers, or bosses, to vouch for you can be essential if you don’t have a rental history. These references can tell landlords that you’re trustworthy, can manage money responsibly, and take care of places. Having these references can make landlords more confident about renting to you and improve your chances of getting the apartment.
2. Have a co-signer or guarantor
If you don’t have rental history, it’s a good idea to have a co-signer like a family member or a guarantor. They give the landlord extra financial security.
A co-signer pays rent if you can’t. A guarantor fulfills your lease responsibilities. This setup makes sure the landlord gets paid on time and things go smoothly, even if you don’t have a renting history. As a result, you become a more reliable tenant.
3. Show that you have financial stability
Demonstrating that you are financially stable is crucial when you lack rental history. This helps landlords feel confident that you’ll be able to pay the rent on time. Showing pay stubs, employment verification, or bank statements proves you have enough money to pay your monthly bills.
4. Pay a higher security deposit
A larger security deposit gives landlords a sense of financial security in case of potential issues. This extra money upfront shows you’re serious about taking care of the place and can ease their concerns about renting to someone without much history.
5. Explain your situation
Explaining your situation to the landlord is important, as it provides context and transparency when you lack rental history. Sharing reasons for your lack of history, such as transitioning from living with family or moving to a new area, helps landlords understand your circumstances.
6. Offer prepaid rent
When you’re new to renting, putting down money for several months’ rent ahead of time can be really convincing. It makes landlords feel more at ease because it means they’re not taking as much financial risk. Plus, it shows you’re really serious about sticking to the lease agreement.
7. Highlight a good credit score
When you’re new to renting, having a strong credit score works in your favor. A high credit score reflects your history of repaying debts on time and managing credit responsibly. It’s a concrete way to show that you’re responsible with money and can handle financial commitments well.
8. Meet the landlord in person
A face-to-face interaction lets you showcase your professionalism, responsibility, and genuine interest in the property. This can be a big factor in their decision-making, as it helps them build trust and could even boost your chances of getting the apartment.
9. Apply to apartments with smaller landlords or private individuals
These landlords often have more flexibility in their tenant selection process and may be more open to considering applicants without an established rental record. Their decision-making might be based on personal interactions, references, and other factors beyond rental history.
How to find an apartment: 8 steps for success
Now that you know the process of securing a rental approval with no rental history, here are the steps you need to find an apartment.
1. Set a budget. Using tools like a rent affordability calculator will help you budget to find a rental that aligns with your financial capabilities.
2. Define your needs and wants. Prioritize the amenities that are essential for your comfort and lifestyle.
3. Explore different neighborhoods. Choosing the right apartment involves exploring various neighborhoods. Each area has its own vibe and amenities. Visiting different neighborhoods helps you find the right fit for your lifestyle and preferences.
4. Use online platforms to find rental properties. When you’re on the hunt for an apartment, online rental platforms are your best friend. Redfin and Rent.com allow you to browse through numerous properties, tailor your search according to preferences, and access specific information about each property.
5. Contact property managers and landlords. Ask questions about rental terms and requirements, and establish a direct line of communication to expedite securing your desired rental.
6. Tour apartments. Apartment touring gives you the chance to see the space in person, assess its condition, and envision yourself living there. During the tour, pay attention to details like layout, lighting, and storage space. Don’t hesitate to ask questions about maintenance, utilities, and the neighborhood.
7. Apply for your dream home. Submit your rental application, including necessary documents and contact information, to the landlord or property manager. They will run a background check and credit check to see if you qualify.
8. Sign the lease. Once you’ve been approved, make sure to review the rental agreement thoroughly before signing your lease.