Is your one-bedroom apartment bursting at the seams? Could you use more space? Whether it’s to accommodate for a new pet or enhance your wardrobe (hello larger closet!), upgrading from a one-bedroom to a two-bedroom apartment will surely satisfy your needs.
A larger home is quite the accomplishment, but does come with some additional costs to think about. More rooms mean an increase in cost of utilities, shelling out more money on apartment and moving expenses, and buying more furniture to fill the new home.
Budgeting for a two-bedroom apartment is easy; setting financial goals will help improve your money-saving skills, so your apartment search isn’t hindered on monetary constraints.
Combating the cost of increased utility expenses.
When touring potential apartments, utilities are probably the furthest thing from your mind at this point. Your focus is probably more on the interior amenities like the home’s granite countertops or hardwood flooring – am I right?
Going from a one-bedroom apartment to a two-bedroom will easily tack on a couple hundred square feet, which means you’ll need to be prepared for an increase in utilities that will supply the extra rooms.
Think about it for a second: An additional bathroom or laundry room means more water usage, and those same areas will need to be heated or cooled depending on the season. One way to save money and combat the increase in utilities cost is to transfer a reasonable amount of funds from your paycheck into a savings account – most banks have automatic transfers that you can set up online. Or look for apartment homes with utilities included in them.
Budgeting for those expected apartment and moving expenses.
Whether it’s first and last month’s rent, pet fees, or paying for movers – apartment and moving expenses can rack up quickly. It’s good to budget for them ahead of time so they don’t become burdensome later on. In addition to transferring money into a savings account, there are a couple of different ways to save:
- Earn cash rewards at places you shop at every day: credit cards or cash-back sites like Coupon Cabin
- Scout for free entertainment and attractions in the community
- Bring lunch to work
By implementing one of these simple suggestions, you can pocket the amount you saved into your savings account.
Saving money for furniture shopping.
It may not be the first thing on your to-do list, but eventually, you’ll be in the process of furnishing and accessorizing your new rooms. You can start saving by following the suggestions above, as well as scope out online sales or start thrifting!
Furnished apartments are something to consider as they come equipped with standard furniture, tableware, and appliances.