Finding an Apartment Project

For this project, you will need to decide what features are important to you for finding your first apartment. Imagine
yourself ready to move out of your parents house or away at college and needing a place to live. Where would you want
to be? What things do you need and want in an apartment? How much can you afford?

Background Answer these questions in complete sentences. Change your answers to bold or another color
1. Where do you want to live and why? (City/country, what state/area?) I would probably want to live in the suburbs
or the city; I wouldnt want to live too far out into the country. Im not sure what state, but definitely on the east
coast.

2. Will you be living with a roommate, multiple roommates, or alone? Why? I will probably be living with a roommate
from college to split the cost and have fun.

3. What are the 5 most important features or amenities of an apartment for you? Use the PDF Apartment Checklist
for ideas and write 1 sentence for each to explain why it is important. Is water pressure resistant? Hot water
available quick? - This is very important when washing clothes, dishes, taking showers, etc. Is temperature even? - It
is important to know how the heating and air conditioning system works. Are the grounds fenced or gated? Safety
is very important to me when finding a place to live. Nearby public transportation? This is important when getting
to and from school and other places. Is it a good neighborhood? It is important to be safe and comfortable in your
neighborhood.
4.
5. Find TWO apartments that meet many (or all) of your qualifications and fill out the information you can on this
table.
apartments.com, forrent.com
zillow.com or trulia.com just set filters to RENT
NOT rent.com (you need to make an account)
Search your college newspapers classifieds section too!

Qualification Apartment #1 Flats at 44 Apartments Apartment #2 Parc East apartments
Location Chelsea, MA. Manhattan, New York
Number of
Bedrooms
2 bedrooms 2 bedrooms
Number of
Bathrooms
2 bathrooms 2 bathrooms
Square Footage 940 square feet 1125 square feet
Rent amount $1975 $5295
Length of lease
(month/year)
1 year 1 year
List apartment
features
deck, fitness center, non-smoking community,
pets, free Wi-Fi, etc.
Fitness center, pet friendly, elevator, smoke free
living, concierge service
Security deposit $500 N/A
Layout of the
apartment
2 bedrooms and 2 bathrooms, a kitchen area
and living room, a small dining area
Kitchen, large living room, 2 bed and 2 bath,
walk in closets
Pictures


Utilities included
(water, garbage,
electric, heat, etc.)
Utilities include : washer and dryer, air
conditioning, extra storage, walk in closets,
cable, dishwasher
Air conditioning, dishwasher, internet access,
cable or satellite
Parking Parking Garage Parking garages
Pet policies Pets are aloud! Pets are aloud
Other costs Parking garage cost, fitness center- included cost for garage not included
Other interesting
information
Patios, stainless steel appliances, tiled
bathrooms, walk in closets
Laundry facility, great view, individual AC and
heat controls
Roommate(s) or
Alone
1 roommate 1 roommate
6. Now compare your two options. Which one would you prefer to live in? Why did you decide on this apartment?
I would prefer to live in the apartment in MA because it is much more affordable than the one in New York.
It would be imposssibe for me to pay for the one is Parc East even with a roommate. I also love Boston which is very
close to Chelsea, MA. The environment is much more appealing to me even though it is expensive too.


7. Will you be able to afford this apartment?
a) Assume you earn the median salary for high school graduates working full time - $29,950 per year.
i. First, find your net income by multiplying your salary by 0.75 = __$22,462.5_____
ii. Then, find how much you will take home per month by dividing that number by 12 =
__$1,871.875________
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = _$561.5625_______
iv. Is the rent for the apartment less than what you calculated in the line above? No
v. If yes is this a good idea? Why? I could not afford this apartment
vi. If no could you afford the apartment with a roommate? No I could not afford this with a
roommate.
b) Assume you have the average income of a full-time college student, which is $14,400 according to the
National Center for Educational Statistics.
i. First, find your net income by multiplying your income by 0.75 = __$10,800_____
ii. Then, find how much you will take home per month by dividing that number by 12 =
____$900______
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = ____$270____
iv. Is the rent for the apartment less than what you calculated in the line above? No
v. If yes is this a good idea? Why? I could not afford this apartment
vi. If no could you afford the apartment with a roommate? No I could not afford this with a
roommate.
c) Assume you make the median salary of a person in the career field youre interested in. Look up the salary
on https://www.bls.gov/ooh Psychiatrist $175,000
i. First, find your net income by multiplying your salary by 0.75 = __$131,250_____
ii. Then, find how much you will take home per month by dividing that number by 12 =
_$10,937.5_________
iii. Next, find what you should spend for rent by multiplying that number by 0.30 = $3281.25
iv. Is the rent for the apartment less than what you calculated in the line above? Yes
v. If yes is this a good idea? Why? I dont think its a good idea because it is very expensive and I
will want to save more of my money.
vi. If no could you afford the apartment with a roommate?