5 Ways To Reduce Stress When Apartment Hunting
House hunting is a big task when you're looking to live an independent adult life or move to a different city for work or study. While exciting, it's also a big decision that comes with its challenges.
Let's be honest, apartment hunting can be stressful. Fussy landlords, sky-high rent, and the dearth of good rooms are reason enough to make you worry. If you're looking to share a flat, there's the added stress of compatibility and different standards of cleanliness.
Then there's the expectation versus reality of renting. Expectation: A decent quality apartment, white walls, quality furniture that's stylish, and house plants in every corner. Reality: An ever-tightening budget. After upfront costs, such as a one month rental deposit and agent’s fee, if you opt for a long term rental arrangement in a central location, you'll likely have to set aside a decent amount of your salary to pay your dues.
Don't forget property wear and tear. Your desired apartment might have some previously unnoticed flaws or deal-breakers, such as a mouldy sink or a door with a broken lock.
The overwhelming feeling of it all is very real. But when there's a will, there's a way. The next time you go house hunting and want to do it in a stress-free (and perhaps methodological) manner, be sure to follow these 5 simple steps!
#1: Know What You Need And Want
Identify your top priorities or non-negotiables when looking for an apartment. Do you need a master room with an ensuite bathroom, or are you open to a shared bathroom? Must the apartment be fully-furnished, and does it have to be close to work?
By being aware of your needs and wants, you can narrow down your search. If your need is a temporary accommodation solution that's flexible with extensions and can accommodate short-term stay, then give up long-term leasing and narrow down your search towards hotels or service apartments that are suitable. Hmlet Cantonment for example, allows a minimum of 6 nights stay with the option to extend for as long as you need.
#2: Set A Budget
Most importantly, a realistic one. Base this on what you can afford and your spending habits. Living and housing costs add up over time, so every dollar counts. Be mindful to also include additional costs, such as Wi-Fi, utility bills and even parking fees when planning your budget. Many financial advisors recommend that your budget estimate for rent should be around 30% of your monthly income.
#3: Be Realistic
Your budget might not land you the fancy apartment of your dreams, but being realistic doesn't mean compromising quality. Make a list of functional pros and cons, and omit your 'good to haves' for each apartment before making your final decision.
If you wish to live in a chic neighbourhood near to your workplace, be prepared to fork out more money for rent. Otherwise, you could live further out from the city and live on a more modest budget. That too comes with its own set of considerations. If you find an apartment that falls within your budget but is too far from work, you'd have to think about increasing your transport expenditure.
#4: Sign A Long-Term Lease
The logic is simple — the longer you stay in one place, the less you have to move, which means less stress. When negotiating the terms of your apartment, you might think it's better to sign a short-term lease in case of changes in plans. While this is a non-negotiable for some people, signing a long-term lease can be beneficial in the long run.
For example, your rental rate is guaranteed for a whole year. You're not at the mercy of price increments if a new property cooling measure is implemented or when a GST increase happens. Plus, a longer lease also means a discounted or lower rental rate. At Hmlet, the longer your lease, whether that's 6 or 12 months, the lower your monthly rent will be.
#5: Live In A Co-Living Space
Co-living can be a hassle-free and viable answer to the perennial issue of finding the most suitable apartment to suit your needs. A co-living arrangement usually entails living alongside and interacting with other people with shared values and interests.
How about incompatible roommates? That's one less thing to worry about. At Hmlet, roommates are not just randomly put together but matched based on a quiz they would fill out before moving in.
But most of all, it's the service standards of your chosen co-living space that makes this process stress-free. At Hmlet, our Sales representatives will recommend spaces that suit your lifestyle best and guide you through all of our available properties. Once you've signed your contract, you'll be taken care of by our Member Experience team from the day you move-in and throughout your stay. To add, you'll also have the Hmlet app where can manage your bills and have access to special member perks and deals. That's as stress-free as things can get!
Looking for a place to live doesn't have to be a painstaking experience. Hmlet is here to help and we're dedicated to take all the stresses of renting from you so you can live more and do more.
Whether you're looking for a room or a full apartment, we'll find you something that will work for your lifestyle. View our homes and get in touch to start your stress-free apartment hunting journey.