Boulder Apartment Averages (2008-2009)
Averages are based on the OCSS Apartment Complex Guide
|
2008 |
2009 |
Efficiency |
$683 |
$688 |
One Bedroom |
$789 |
$831 |
Two Bedroom |
$1,088 |
$1,167 |
Three Bedroom |
$1,636 |
$1,649 |
Four Bedroom |
$2,380 |
$2,413 |
Where to Begin
1. Before You Begin Looking
Finding appropriate rental housing, whether an apartment, condominium, or a house, requires plenty of forethought and planning. Even before you begin searching for housing, you should consider whether you want to share a place with roommates or whether you operate better on your own. You also need to consider your financial resources and the length of your lease. You don’t want to find yourself in the position of spending all your rent money during the first six months of a lease and not being able to pay for the remainder of the year. You should also consider transportation needs; do you need to live close to a bus line, or within walking distance of CU or work? If you have a vehicle, you’ll need to consider parking at your off-campus home as well as on campus. Finally, do you want to live in a house or an apartment? If you have a pet, apartment living may not be for you. On the other hand, if you choose to live in a house, you need to make sure you have the time and want to be responsible for maintaining the yard.
Roommates
You never really get to know someone until you live with them. Although there’s no way of knowing whether you will be compatible with your roommates until you’ve lived with them for a while, there are steps you can take to give yourself the best shot of avoiding a nightmare roommate scenario.
First, how well do you know your potential roommates? Are they life-long friends, dorm-mates, casual acquaintances, or complete strangers? The more you know about the people you’re about to move in with, the better off you’ll be. Do you know their general lifestyle habits? Are they neat-freaks or slobs, academics or party animals, willing to compromise or control freaks? Take a serious look at your potential roommates and ask yourself if these are people who are responsible and will pay rent on time -- - people you would be comfortable sharing your bathroom with, sitting with in the living room after a long day, or talking to about how to accommodate differences in lifestyles. Remember, you’re probably going to be signing a year-long lease and, unless you want to go through the legal hassles and costs of breaking your lease, you will be committed to living with these people for the duration of that time.
Assuming you feel comfortable with your roommates-to-be, even though they may be the most trustworthy people you know, it is still wise to have a written roommate agreement. This is a legally binding contract between roommates that can address day-to-day living issues which will inevitably arise during the course of your tenancy and which may bring to mind issues you hadn’t necessarily thought about. For example, a roommate agreement can determine how the household chores will be divided and what happens if they don’t get done, how food will be bought and shared (will you have a general “food fund” or is everyone on their own?), or what happens if one roommate is chronically late paying rent. You may not think you need a roommate agreement or that you would ever have to use one, but they are always a good idea -- - if for nothing else than to “clear the air” before you start living together.
Budgeting
Whether you have roommates will, of course, affect your budget and living expenses as it generally is cheaper to share the cost of living. However, whether you are living in a house with three other people or have a studio apartment, you will need to give plenty of thought to your budget -- - realistic thought about the lifestyle you can actually afford and not the lifestyle you want to be able to afford. Consider that each month you will be paying rent, utilities, food and household supplies, and possibly other costs (child care, pet care, transportation costs, etc.). Obviously, you may choose to pay more for rent to live in a nicer place, which means you will have to reduce some of your other monthly costs. Therefore, before you start looking for a place to live, you should determine how much your monthly budget will be and what housing you can afford. Remember, in addition to the monthly rent, you will most likely be required to pay a security deposit, which can be anywhere from a few hundred to a few thousand dollars. Therefore, you will also need to budget for a significant payment upon signing the lease (first month’s rent and a security deposit equal to one month’s rent are not uncommon).
Miscellaneous Issues
In addition to roommates and your budget, there are other more incidental issues you may wish to consider before you begin your housing search. Whether you have a car or will need to rely on the Boulder bus system may affect the location where you wish to live. If you have a dog or cat, you may need to find a place with a yard, which means looking for houses or townhouses rather than apartments. Additionally, you may be required to pay an extra deposit for your pet and will need to factor that into your rental budget. Finally, do intend to stay in one place for a year, or do you need a short-term lease? Typically, if you are looking for a short-term lease, your best bet may be a condo or apartment. If you require a house, you may need to consider subleasing issues if you will not be there for a full year.