One of the first questions you’re going to want to answer before you start your apartment search is: “How much rent can I afford each month?” Try using the rent calculator below, it will help you get a good estimate of your monthly budget. This number will to give you a nice jumping off point for the price ranges you can start looking. Once you have your budget, you can begin your search by getting in touch with one of the agents found on Dorchester pads.

Now that you have a general idea of how much you can spend on rent, here are a few tips to keep in mind. 

• It’s a good idea to keep your monthly rent between 25% and 33% of your monthly income. You can get an estimate of this number by taking your yearly income and dividing that by 40. From there, you can adjust up or down, depending on your comfort level.
• You also want to remember that there are more monthly costs than just rent. Insurance and utilities will also need to be paid as well, so factor those costs in each month too.
• Don’t forget to take other living and lifestyle expenses into account. Costs like public transportation or parking should be considered. Not to mention the fun stuff like going out to eat, catching a game, or seeing a show. If you do any of these on a regular basis, factor them into your monthly expenses as well.

With a solid budget in hand, you can avoid the potential heartache of falling in love with an apartment, only to discover you can’t actually afford it. It also means you can have a much more efficient and effective apartment search. So, try out the rent calculator below, and once you’re ready, contact one of the agents found on Dorchester Pads today to get started.