Budgeting Your First Apartment

Chennai is one beautiful city of our country, and we believe that no matter how good other cities of the country might be, there is nothing like the serenity of Chennai.

The combination that Chennai has is in itself a rare one that we suppose no other city in the country has. When you look at Chennai from a modern perspective, we see that Chennai is content in itself and is completely advanced & developed. But wait, that’s not it with the charms of the city.

If we take a 360 degree turn and look at Chennai with a more nature freak way, we see that Chennai is blessed with an amazing environment, and the environment is saved and nourished by the civilians there. The cleanliness of the city is something we would really appreciate.

Now when one city has so many perks, why wouldn’t people want to live in this place? This is the reason why a lot of people keep moving into this city.

budget-apartment

So yes, now we have arrived to our point.

This article is for all those new bees who are entering the city and are confused whether to take a flat for rent in Chennai of to rent lavish pent house. We understand people have so many confusions while doing anything for the first time. Trust us, we have all been there sometime or the other.

So we understand your dilemma and the first advice that we would give you for managing to find the best apartment for you is to know your BUDGET.

Someone who’s clear with their budget and has their financial status sorted can easily find their perfect house. You may see a lot of options around you, but what is important is to know your budget and then choose the apartment which fits your needs and fits your budget too.

But then we know that when we are actually renting or buying a house for the very first time, we get confused and then we are left clueless. One major reason for this is we don’t analyze our budget properly.

So now, we have listed down few points that will help you in budgeting your first apartment and will save you from falling into any loophole where you could get stuck.

Here are some quick and easy budgeting steps that you can follow,

  • Know your monthly income- calculate your monthly income accurately. Consider all the sources of income and their frequencies. On the basis of this, you will get to know your annual turnover too.
  • Be in ratio- say if you have a salary of 30000 thousand, take a flat for rent in Chennai which cost almost 7000-8000. You can spend almost 25- 28 % of your income on the housing as there are other needs too.
  • Know your needs- this is very important. One will never be able to make the right decision if he isn’t clear in his own head. Be sure of what needs you have and what are your necessary and secondary requirements. Do not end up renting or buying a house that gives you facility that you do not need.

So these were some smart and effective budgeting tips that you can adopt to make sure you don’t run into any losses. We do understand that taking your first apartment is tough, but with proper budgeting, it wouldn’t be all that difficult we assure you.

Erin Emanuel

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