Considering Your Options: Common Tradeoffs In Your Apartment Search

You may have seen episodes of the television show, House Hunters, where an individual, couple or family looks at homes and apartments that will suit their needs. Many viewers smile at the house-hunters' naivete, as they often want granite countertops, stainless steel appliances, hardwood floors and a downtown location for a very modest budget. As each episode unfolds, the seekers begin to realize that in real estate, tradeoffs are common. Here are some of the tradeoffs you might have to make when searching for your apartment, along with tips on how to decide which concessions and compromises make sense.

Location, Location, Location

You probably already know that location is one of the most important considerations when it comes to choosing an apartment. If you live far from work or school, or if you have to travel many kilometers to meet with your friends at your favorite hangouts or even visit your favored grocery store, this is an inconvenience that can really impact every day that you live in the apartment. Also, gasoline and public transportation costs add up! Location also determines where your children go to school and whether you can safely walk around after dark, points out Fox Business.

Understand that you probably cannot live in a prime location without giving up some of your other preferences, whether that means raising your budget or settling for walk-up that's smaller than you'd envisioned. Be sure to tell your real estate agent where you want to live and he or she will try to work with that.

Updated Fixtures and Appliances

You may have rolled your eyes at the bright-eyed house-hunters who are determined to have stainless steel appliances even if it means choosing a home that's out of the way or not large enough for their needs. If you are buying a home, this is more of a consideration than it should be if you are renting an apartment.

Remember, as long as the oven gets hot and the dishwasher works, it really doesn't matter if the appliance is beige, white or -- heaven forbid! -- avocado green. Brass fixtures in the bathroom might not be your preference, but is it worth refusing an otherwise suitable apartment? If you are renting the apartment for the short term, then just work with what you have and try to ignore the not-quite-perfect aesthetics. If you'll be there for many years, remember that you always have the option of storing the current appliances and substituting them with your own.

Entertaining Space

Another comment that might make viewers of House Hunters sigh is, "We need more room for entertaining." Of course you want to have your friends over, but consider carefully how much room you really need. Particularly if you are renting an apartment, there might be common areas available that will allow you to host a small gathering. If not, your friends and extended family probably won't mind squeezing into your cozy living room or shifting around a bit to accommodate one more at your small dining table.

Remember: You are renting the apartment for yourself, your partner and/or your immediate family, not a dozen of your closest friends. Most people will understand if you have limited space and will adjust accordingly. Try not to give into the temptation to rent an apartment that is more expensive than you can afford simply because you want entertaining space for occasional get-togethers.

The bottom line is that you should talk to your real estate agent about your wants and needs in an apartment. He or she should be able to help you decide which of your desires are worth paying more for. Prioritizing with a professional can also help you keep your expectations in line with what is reasonable to avoid disappointment.

Keep these tips in mind as you look at options like Wynn Residential Apartments in Toronto