One of the biggest things that you can do when it is time to move into a new apartment is to make sure that you have a budget in place and you know your maximum rent. You do not want to fall in love with an apartment that is too much over budget and that you will not be able to afford along the way. This can lead to heartbreak and disappointment as the landlord will probably not even approve you to move into that apartment in the first place. So, when it is time to budget for that first apartment of your dreams, figuring out how much you  can afford in rent should come first.

Paying housing costs that are high compared to your income is a huge mistake and one that you want to avoid as much as possible. When you get yourself into a situation where you need to stretch out the budget and cut back on other things just to make the rent, then you will be under a lot of stress. You may not be able to go out with friends, work on your savings, or have a good emergency fund either.

So, how do you make sure that you are doing well with your money and not spending too much? A good rule of thumb to choose is to work on the 28/36 rule. This is a rule that a lot of banks will use to help determine how much you can afford for a home that you would like to buy. You may not be buying a home right now, but it is still a good way to keep your finances safe and ensure that you do not spend too much on an apartment.

This rule states that your housing payment, whether it is the rent or a mortgage, should not be more than 28% of your gross monthly income. It also recommends that when you combine your housing together with the debt that you have to pay, it should never get to more than 36% of your gross income. Take a look at the numbers and see if it makes sense for you.

Are you looking for a new home to call your own? Then it is time to come check out some of our  apartments near USC. We are proud to offer a wide variety of different apartments for you to choose from, no matter what size you want to make your own. We welcome you to take a tour and learn more about the location, the space, and all the amazing amenities that we can provide to you today.