Hidden Costs of Renting a New Apartment

Hidden_Costs_of_Renting_a_New_Apartment

You might consider only the rent in your budget of moving in a new apartment but there are expenses that you are not counting.

You may consider moving in a new apartment as a one-off expense but all minor expenses, that you have not considered, add up, eventually.

Whether it’s painting a wall or getting new locks, minor furniture items or new carpets, you cannot call them miscellaneous expenses as they can have a bearing on your budget. You can ignore them only at your own risk as you are going to feel the pinch, sooner rather than later.

Therefore, I have put together an overview of the hidden costs of renting a new apartment so that you can plan your budget accordingly.

Getting it Washed and Cleaned

Let’s say you rent an apartment and move in hurriedly only to find out that it needs washing and cleaning. After you move in, the cost will be on you. You might think it’s a small amount but you will regret it by the time you get the bills.

Therefore, when you consider renting a new apartment, you need to take into account the hidden cost of washing and cleaning and plan accordingly. Else, it will set your budget on a different trajectory.

Better still, you can take your time and do a thorough inspection of a new apartment to find out if it needs washing and cleaning.

If it does, you need to negotiate with your landlord and insist on renting only if you get it in pristine condition. In short, you can ask your landlord to get it washed and cleaned and save the money.

All of it can work out smoothly if you have the foresight and think of the hidden costs that washing and cleaning entail. So take this hidden cost into account and plan accordingly!

Getting a Wall Painted

Once you move in, you might realize that a wall in your bed room or drawing room needs to get painted. A wall in your kitchen needs a facelift in terms of paint.

This is something you have not considered in your budget, have you?

Of course, not. When you move in a hurry, you, at times, fail to consider these minor expenses which have the potential to upset your budget and planning.

This will cost you because getting a paint job done is not easy. It will entail expense in terms of material, labour and cleaning after the paint job is done.

You need to consider this and set apart a part of your budget to get an odd wall painted. You can also think of the ways of preventing this expense. When you go to inspect the apartment, make sure you observe and note the condition of walls. If you think, a wall or two would need to get painted, you must negotiate with your landlord and impress upon him as to why he should get it done.

Your landlord may or may not agree but it’s worth trying. If he does, you can surely save a lot of money which you have not planned to spend and can adversely affect your budget.

Accidental Damage

You don’t plan to break any items as you unpack your things after you move in, do you?

But you would be surprised how something or the other would get damaged and cost you.

While you unpack, you need to be careful and try not to incur these unnecessary expenses. On the other hand, no matter how hard you try, you will damage a furniture item or a glass item and you will need to either get it repaired or replaced.

In any case, the repair or replacement is going to cost you. But you have not taken any repair work or procuring new item into account while working out your budget.

This can be quite irritating if you have not considered this cost. This kind of hidden cost can prove to be costly after you move in because you have no provision for it in your budget.

Therefore, it is advisable that you take into consideration the cost of an item or two getting damaged. This hidden cost can upset you only if you have not allocated any fund for it in your budget. Plan for such accidents and you will not have anything to worry about while you unpack a few broken pieces here and there!

Turning a Rented Place into Your Home

You have no idea how your unplanned expenses are going to come from this!

When you move in, you have no clue how you will need to make an effort to turn it into your home. The curtains, the rugs and the kitchen will seem all out of place to you. For a while it may seem fine but you will begin to feel the need to change them.

This is what gets you started on expenses that you have not taken into consideration.

One thing will lead to another and you will end up spending more than you can imagine. Purchasing brand new items related to decoration and utility can have a bearing on your budget in a massive way.

You need to plan it in such a way that you should be able to use the old items at your new apartment. The word is ‘repurpose’. You need to learn to repurpose and make the most of whatever you have. If you plan well and repurpose whatever items you have, you can avoid the hidden costs of turning your new apartment into a home. This way, you can save money and stick to your budgetary planning.

Conclusion

As you can see, moving in a new place can incur expenses that you have not planned for or expected. There may be no way to anticipate the expenses in some cases but there is always a way to repurpose, re-use and save some money.

If you can do a thorough inspection, you may be able to arrive at the actual budget required for post-moving in. This will save you from getting shocked to see your budget planning go haywire. If you have planned for it in your budget, it will not upset you beyond a point.

Else, hidden costs of renting a new apartment can wreck a havoc on your budget and the joy of moving in a new place can quickly fade away!