Moving into your first apartment is an exciting and somewhat intimidating experience. You’ll have to manage and pay your own bills, including the apartment rent and utilities. Moving into the apartment is a particularly trying time because you not only have to move your stuff, but you may also have to purchase new things for your place. Prepare yourself by compiling a list of average expenses you may have to pay when moving in.
The first expense that you’ll have to pay when moving into an apartment is the security deposit to the landlord. The rules for security deposits vary by state and the terms of the landlord, but in some cases the landlord needs the equivalent of one month’s rent as security on the apartment. You may also have to pay last month’s rent in advance before moving in. The total amount varies depending on your lease terms, and the amount is reimbursed when you move out as long as you leave the apartment in decent condition (normal wear and tear).
You’ll have to cover moving your goods to the apartment. The main expense is the moving truck rental for transporting your large items. Expect to pay about $20 to $30 for a daily rental as well as a per mile rate (usually up to $1.10 per mile). You should also factor in the cost of moving supplies, like boxes, tape and bubble wrap. The total cost for moving supplies for a standard apartment is about $90 or less.
If you don’t own furniture or plan to bring your old furniture along with you to the new apartment, another expense is purchasing basic furniture pieces so that people have a place to eat, sleep and sit. That includes a bedroom set, couch and dining room set, among other items. The cost varies greatly depending on the type of furniture you choose to buy, but you can usually find these basic furniture items for a few thousand dollars or less.
Another expense you may have to pay is the cost of turning on utilities in the apartment. That includes both electricity and cable service — two common services that the apartment dweller must establish accounts for on his own. You may have to pay a fee of up to $15 (varies depending on the electric provider) to connect electricity in the apartment. The cable company may charge a fee of about $15 to $20 — more if the company has to install new cable wiring in the apartment.