The American dream of owning a house in the suburbs with a white picket fence is changing.
About 54% of Americans believe that renting has become more appealing than homeownership. And a Rent.com survey of renters nationwide found that 61% have delayed home ownership and plan to stay longer in their rental. With more people choosing to rent than buy a home, finding the perfect rental has become increasing difficult.
If your moving dates are relatively flexible it can be a good idea to time your move. The best time to find your next apartment depends on your ultimate goal: Are you more interested in having several options to choose from, or do you want to save more money on your rental?
Want Options. Most Americans move between May and September. During the spring, recent college graduates are moving out of their apartments and younger kids are out of school on summer break, making moves easier on families. The weather is also generally more accommodating to move during the warmer months. All of these factors result in a dynamic rental market with more turnover during this time of the year as compared to most other months.
However, there are some downsides of apartment hunting during the peak season: There will be greater demand from renters vying for rental units, which means you may have to act more quickly in making a decision about a rental so as not to lose it to another interested renter, and there is less opportunity to negotiate.
Want to Save Money. Recently, 56% of renters said rent payments are their biggest required monthly expense – far surpassing other bills such as groceries, utilities or transportation. One in four working households in America, spend more than half of their pre-tax income on housing.
If you're looking to save money on moving costs and your monthly rent, you'll want to look for apartments during the winter months. Winter is notoriously slow for apartment hunting. In addition, your first few months in your apartment will also reflect the highest energy bills you're likely to incur during your time living in your new place so your monthly costs are only going to go down with time.
Without a lot of wiggle room, you're probably going to end up paying whatever is necessary to find a great apartment. However, that doesn't make seasonal information moot – use your knowledge of seasonal rental trends to your advantage! For example, if you're looking to move during the fall, use your knowledge of the upcoming slow season to find a place.
For more information on apartments in Raleigh, NC contact Auston Grove Apartments.