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After graduation (from high school) I will be moving to Colorado (from Massachusetts) to attend community college, from which I will transfer to a four-year university. I know how to budget and am pretty good at it, I'm just not sure as to how to go about this all. Are walk-throughs absolutely necessary for new apartments or can you do it via Skype/phone? (I'm sure some people would be fine with that). How much should I save for first, last, and security, and are there any fees to turn on utilities in a new place? Any help is highly appreciated. <3
How much you should save would depend on the apartment/house you rent. Some places require the amount of one month rent as a deposit, in addition to paying the first and last months rent. If it's a "deposit" then it is refundable when you move out. If it is a "fee" then it is non-refundable. We just rented a house, and we had to pay our deposit (months rent) and the prorated rent for moving in mid-month. We also had to pay a pet fee.
Some places also require you pay last months rent in advance.
Utilities... Most I have called have required a deposit of any where from $100-$400, but with good credit and consistent payment history, we've had these waived. Not sure what they would do with someone "new" to the utilities world like you are, but I would plan on having to pay some kind of deposit for each of the utilities you need to set up. An apartment would most likely require gas and/or electric.
When we lived in an apartment years ago (before we bought a house) water and trash was included in your rent. Since we just moved from another state, we are temporarily renting, and it seemed all the apartments we looked at charged some fee for water, trash and pest control. One apartment we looked at divided the total water bill between all the people living in a given unit. So if there were four apartments in a unit, and our apartment had four people, and the other apartments only had two people each, we would pay more for the water bill. (Hope that makes sense.)
You should not have to do a walk through until you get there and move in. Definitely, make a note of any mark, dirt, scratch, etc you see in the apartment. Our last apartment we moved we had before buying was disgusting the day we got the keys. My husband noted everything, but did not take pictures. The apartment was 1000X cleaner when we left, but they still kept money out of our deposit for normal wear and tear stuff that was already there when we moved in. For example our first walk through noted "scratches on the linoleum." Since we did not take pictures, the landlord said they had no way of knowing if there were "more" scratches on the linoleum when we moved out, so we got charged for the scratches that had already been there and noted, but apparently weren't counted! Since we didn't have pictures, we couldn't prove how much better it looked. So bottom line, take pictures!
I would highly suggest getting a roommate since you are in college. I always had roommates, and while some were better then others, it definitely cut down on the cost of things. Moving in with someone already established, may help cut down on some of these fees.
If you're going to Denver, I wouldn't sweat it. Surf the web and find out what the $ outlays are for new renters. That's the only way to find out. You may have to pay the first 3 month's rent in advance. Do some research on the city to find out what areas fit your needs and resources, likes and dislikes. Also, you'll have to fill out renters' forms before you arrive, if you do rent over the internet/phone. They are sometimes pretty daunting.
You should take look at the Denver forum at https://www.city-data.com/forum/denver/
There are 100s, if not 1000s, of threads of people asking the same questions.
Be aware that the Denver housing market is right now one of the hottest in the country. Rents are high, availability is low, and go quickly. Houses are selling the 1st day of listing.
Use padmapper.com or rent.com to get an idea of rentals.
I just moved cross country. The place I rented, I did so sight-unseen. Places will allow it if the rest of your application checks out. For your own sake, however, stick to places that have online reviews, pictures, and even try posting in City Data forums to try and find someone who lived there and can give you specifics. This is a good time to stick to corporate rentals since you can't go there in person. I've only lived here in my new place for a week, but so far, so good.
Budget two months rent for move in - one month for deposit, one for first month's rent. Budget $400 extra for a pet if you plan on bringing one.
Utility deposits will depend on your history. They will run a "soft" credit check, which doesn't impact your report, but will look and see if you have any utility history and/or outstanding debts with utility companies. Since this is, I assume, your very first apartment, you're going to probably need a deposit. Budget around $250 for that for each utility (electricity, water, cable/internet).
If you are right out of high school, it is doubtful that you have a credit history and income to rent on your own. Most college kids need to have someone (parent?) co-sign the lease for them. And apartment complexs will pull a credit report on both individuals.
I second the roommate thing. Our daughter lived in a studio when she first moved to grad school and didn't realize how awful it was for her mental health until she moved in with a roommate. Both of her roommates were less than optimal, but living with other people around was still better than a very small studio with just her dog. Obviously, having a roommate will reduce your expenses as well. You will need internet, the cost is the same no matter how many people use it. The lights, fridge, and heat/AC are the same. Why not split the cost?
Every apartment will have its own deposit situation. But to be safe I would plan on deposit (may be as much as one month's rent), a pet deposit ($100-500 in our experience elsewhere) if you are bringing a furry friend, first month's rent,and utility deposits. Our daughter's first apartment had her paying all of her utilities through the rental office because the electric and water were all on shared meters. So they pro-rated the apartments based on the number of occupants. How your neighbors set their thermostats, how many showers they take, how many "friends" they are allowing to use the apartment, etc are going to impact the bill.
Then when she moved in with a roommate, the roommate was going to be there longer so roommate was the primary renter on the lease, with our daughter on the lease but as a secondary renter. The roommate had the electric and cable in her own name (so she was responsible for the deposits), our daughter just split the bill. Electric was not a great issue as the roommate wanted the AC set at 72 (in a year 'round hot/humid climate). Their last AC bill together was $250 for the month. It seems like water is usually pro-rated and, in 3 different apartments the cost varied quite a bit for such a small expense. On her own it was about $32/month, 1st roommate her half was about $35/month, and last roommate her half was as high as $42/month. So for some things you will save with a roommate, some you won't, and it really helps to set some ground rules if you choose to have a roommate. I would also suggest a locking doorknob on your bedroom, a programmable thermostat, and label your personal food in the fridge. Ketchup was shared, eggs were not.
After all that, and being a few years wiser, going to her internship she has decided to just rent a room from someone who has in-laws quarters attached to their house and came recommended from a current intern. Seriously, just a small deposit and less than her half of an apartment rent...and it includes all utilities. There are people out there, especially the empty nesters (want to retire early and need a bit of extra income)and new homeowners without kids yet (and trying to get a bit ahead on the mortgage payments) who will rent out rooms. Just do your due diligence about a background check or a reliable reference. You might explore this option for the first few months until you have a chance to get a lay of the land.
Have you read about residency requirements for CO community colleges so you don't have expensive non-resident tuition? Looks like that alone takes a year. Here's a sample:
Have you read about residency requirements for CO community colleges so you don't have expensive non-resident tuition? Looks like that alone takes a year. Here's a sample:
You didn't mention what your plans are for paying for college, but if you'll be applying for financial aid , you won't be considered "independent" from your parents until you're age 24, even if you're technically living on your own. To apply for financial aid, you'll need to fill out the Free Application for Federal Financial Aid (FAFSA) before you start school. You'll need your parents to co-sign the FAFSA and provide their financial information. The financial aid office at the community college you're attending should be able to help you with any questions, so stop by their office as soon as you get settled.
Hope it all goes well!
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