How close are you to work?
Traffic in Austin is getting worse daily, and commuting can be awful if you don’t live close to your work. When looking at properties, check how close it is to your work along with estimated morning commute times.
How many people are you living with?
Knowing how many bedrooms you’ll need is a great place to start when gathering ideas for locations and types of properties to look at. Having roommates can help save money by splitting costs of bills, but comes at the loss of some privacy. Having too many (4+) roommates, on the other hand, can limit your options in location to houses and college-style apartments.
How much can I afford?
When looking at the price of rent, the gross income of all occupants of the residence should make three times more per month than the cost of rent. For example: if your rent costs $1,400 per month, the gross monthly earnings of everyone in the residence should be 4,200 per month, or around 50K annually. If you and/or your roommates combined do not earn that much money, you could still get the place, but may need a cosigner or financial guarantor. Where you stand financially should give you a better estimate of where you can live, and if you need to live with roommates. In addition to the price of rent itself, there are other monthly payments to consider when deciding how much you can afford including:
- Monthly pet fees
- TV, Netflix, etc…
- Renter’s insurance
Finding the right location
If you’re not familiar with Austin, or if you’re just trying to narrow down exactly where you want to stay, you might have some questions about where to move to. You can browse overviews of each neighborhood in the city, or check out spotlights of various neighborhoods, including:
- Hyde Park
- Pemberton Heights
- Bryker Woods