Location has always been and will always be huge in real estate, and apartments are included in that. You need to consider where you will be living in terms of relative location to the things that are important to you. For example, your new apartment home would ideally be in equal distance from your friends, family, job, and other favorite activities. If that is not possible, it will be necessary to prioritize which of these things is most important to be in closest physical proximity to.

Also consider that the location of your new apartment home may have an impact on the cost, size and quality of your home. Generally speaking, urban dwelling tends to be smaller and pricier than suburban dwelling. Close physical proximity to popular attractions such as malls or other sources of amusement will also affect your apartment home in numerous ways. If you live in a city like Chicago, where there is public transportation, consider your own living and sleeping habits – if you are a light sleeper you will not be happy living in an apartment in very close proximity to the EL train, which will shake, rattle, and roll by roughly every twenty minutes and wake you up. Location, Location, Location, it is always the number one consideration in real estate!

Cost should be your second consideration.  Your rent should never be more than 20% of your annual income.  Simple math – if you make $20,000, multiply 20,000 x .20 = $4,000.  Divide that over the 12 months per year, 4000 / 12 = $333.33 is the most you can comfortably afford to spend in rent per month without going into debt or sacrificing things like food or gas in your car. 

Also factor in the cost of moving in.  Not only do you have to come up with the first month’s rent, but there is usually a security deposit involved, a pet deposit if applicable, and sometimes they even want an extra month’s rent.  So, be prepared to shell out considerably more cash when moving in somewhere new than you ordinarily would.

Pets are a consideration for many people.  Some apartments allow all pets.  Some apartments allow cats, but not dogs.  Some apartments allow only caged and tanked animals.  Some apartments have breed restrictions (meaning that specific breeds are banned from the premises - these are usually breeds such as Pit Bulls and Rotweillers - those unfortunate breeds that have recieved such horrible treatement and even worse press).  Many apartments have pet deposits and others have pet rent.  (If the apartment you choose is one that requires pet rent, don’t forget to factor that into your cost of living.)

Size may be a consideration for some people.  Do you want a bigger home?  Or a smaller home?  How many people and animals will be living there?  How much stuff do you intend to cram into the space?  Size is also affected by location, remember, so be prepared to either compromise on size to stay within your price range or sacrifice your budget for more space.

Will you have roommate(s)?  Roommates can help to decrease the financial burden, however if you cannot live with one another, there will be even larger problems.  A roommate should be someone that you know fairly well.  You should get along, you should be able to trust him or her with your possessions as you cannot possibly be home at all times and still make a living, and you should be able to be flexible and work around one another’s schedules.  Remember, every rule that you attempt to set for your room mate(s) should be one that you yourself do not mind following.  For example, it would be ludacris and rude to set a rule that your room mate(s) can never have company, especially if you intend to have a guest over on occasion.

Consider the landlords.  The owners.  Are they a company or an individual or group of individuals?  Do you have a preference for dealing with one type of landlord?  In my experience, individuals tend to be slower about fixing the things that are wrong, but more lenient in terms of rules of the house, such as pets, late payments, etc.

Also keep quality in mind.  No one wants to live in the ghetto, but sometimes it just happens that way.  Living anywhere is better than being homeless.  However, sometimes logical decision making can prevent living in less than desirable areas.  Quality over quantity – sure you can afford a six bedroom apartment in the slum, but if you have to install steel bars over the windows to keep them intact, there goes your extra money.  Landlords can have a serious impact on quality as well.  If they are lazy and irresponsible, then it is possible to find horribly maintained apartments anywhere.

Any amenities that come with the apartment may also come into consideration.  Is there an elevator?  A pool?  A fitness center?  Some of the more extravagant apartment homes offer personal chefs, room service, and personal trainers...and the price tag to go along with it.  These things can raise the price of an apartment, or affect the size you get for the cost, but once again, this is where prioritizing comes into play.

Parking is very important for many people.  If you have a car you will want to get the appropriate sticker or tag or whatever the apartment’s policy is before you spend your first night there or your car may be towed away by morning.  Often this is a two-part procedure – one identifying mark from the apartment complex will prevent your car from being towed while another from the town the apartment is located in will prevent your car from being ticketed. 

If you do not have a vehicle, you will want to be sure that you have easy access to public trasportation, whether that means busses, trains, taxis, etc.  Make yourself familiar with the routes so that you know how to get to all the places that you need to be, such as work, school, grocery shopping, etc.

Whether you own a vehicle or not, make sure that you are aware of any and all guest vehicle policies, just in case you throw a party, or someone comes to spend the night, or family from out of town stays with you while they visit.

Last but not least, consider appearance.  It sounds superficial, but it’s really not.  An apartment complex that is visually disturbing is a sure sign of landlords who are not considerate of their tenants wants or needs in terms of maintenance.  Roofing or siding that appears to be loose or in poor condition can alert you to the possibility of leaks, water damage, and other unsightly and irritating conditions.  Further, appearance can make your life easier.  If you have pets or children, for example, you may prefer hardwood floors to carpet, for purposes of cleanliness.  You may prefer satin or semi-gloss paint on the walls as opposed to flat, for purposes of preventing dirty hand or paw prints.  Make sure that you educate yourself on the apartment complex’s policies on decoration, such as picture hanging, wall painting, etc, as some will surprise you.  For example, I once lived in an apartment that forbade the hanging of pictures due to the holes left in the walls when they are taken down.  One nail hole and your security deposit was forfeit.