Rent Calculation Tips:
• Lifestyle Considerations: Do you spend a lot of time at home? Or are you the kind of person rarely found anywhere but public spaces? If you spend a lot of time at home, work from home, or have any other sort of special space requirement, you may want to consider these specifications first. Budget is nothing compared to how you happy you are living your life in your home. If you’re never home and space is not an issue, than consider other expenses in your budget planning before you consider space.
• Expenses: List everything that you pay for on a monthly, quarterly, annual basis or any other payment schedule you may have. Add this total up and make sure you can pay for all other expenses on top of your rent amount. If you like to go out a lot and this is truly part of your lifestyle, include that in your budget too. Both Waltham and Boston have a great selection of activities for people of all ages.
• Research: Find out what the cost of living is. What are utilities like? How much does heating and cooling cost? Will you be commuting to work? Think of every detail of your life and research how much it will cost you. The small things add up and the more research you do, the less likely you are to run into budget problems down the road.
• The One-Third Rule: One of the most basic rules of budgeting is to allocate about one-third of your monthly income to housing expenses. Your living expenses should never cost you more than one third of your annual income. An easy way to quickly calculate your monthly rent budget is to divide your income by 36.
Got it? Now try out the Waltham Rent Calculator and get started on your search for your new home today.