If you are planning a move to Phoenix, you may have already begun looking at apartments for rent in Phoenix. Depending on your needs in an apartment and if you are looking for a specific location, there can be ways to save some money on housing.
If you want to find an affordable apartment in phoenix, there are several great ways to go about it. Here is how to get a good deal on an apartment in Phoenix:
Only Buy or Rent What You Need
Like much of the country, the housing prices in Phoenix are soaring. If you are looking to buy or rent an apartment, aim to buy only what you need in order to save some money. While it might be nice to have an extra bedroom for visiting guests or an extra bathroom for friends who are over, those extras can really add up.
So if you truly only need a bedroom for yourself look at apartments for rent in Phoenix that are one bedrooms or even studios. Having extra space or options is nice, but not if it puts you over your budget every month. Make a list of the absolute essentials that you need in an apartment and stick to that when you are apartment hunting.
Stick to a Budget
Once you have an idea of your essential needs in an apartment, set a budget based on your income as well as the average price of apartments in the area. A general financial rule of thumb is that your housing costs should not exceed 30% of your income.
If you find that the apartments you are looking at in Phoenix go above that threshold, you may want to alter your search or even come up with some alternative plans like the ones mentioned below.
Alternative Options
As mentioned, if you simply cannot afford to buy or rent an apartment in Phoenix with your current income, you will need to make some changes in order to get a good deal on an apartment. If you do not want to make concessions when it comes to location or amenities, you may need to live with a roommate and split the rent in order to afford your ideal Phoenix apartment.
Alternatively, you can look at locations a little further out from downtown in order to find a better deal on apartments. As you move away from the heart of Phoenix, you can get a better deal on apartments. Expanding your search will show you what deals are available in and around the Phoenix area.
Overall, it can be difficult to find a good deal on housing in a hot market. But using solid financial indicators like only buying what you need and staying on budget will help you to find the ultimate deal on an apartment that you can actually afford. If that does not work for you, consider some options like finding a roommate or looking for apartments further from downtown.