Is It Time to Upsize?

This is the time of year when many first apartment leases are up and it’s time to decide should you to stay or move. So, is your apartment’s feeling a little cramped? Maybe you got a new roommate, or just let your things get a little out of control. It’s one thing to feel frustrated, but are you really READY to upsize?

See if any of these reasons to upsize apply to you:

  • Adding a roommate
  • Significant salary raise
  • Completely frustrated with features
  • Tension about space with roommates
  • Desire to host get-togethers
  • Pet that needs outdoor space
  • Cramped apartment

Then ask yourself:

Can you afford it? Seriously, CAN YOU AFFORD IT?

This is the MOST important part. Fancy new features or more space are worthless if you can’t comfortably pay for them, or get stuck paying more than you planned.

  • Rent: Your income should be at least 40 times your monthly rent. For example, if you’re making $30,000 per year, your rent should be no more than $750 per month to be safe. If you get a big raise, you can probably afford to upsize, but paying less than the maximum you could afford might be your best money move long term.
  • Deposit: The deposit changes by place, but most landlords require a deposit of one month’s rent–in addition to your real first month’s rent. If you have $0 in the bank, you must add to your savings before you upsize.
  • Monthly Costs: The costs of living increase in a bigger space, especially regarding energy. More space = more space to keep warm and cold, more places for running water, and more electricity to light it. Keep in mind that your electric bill each month will increase, as well.

Do You Really Need To?

While the idea of more space is glamorous…do you really need it? Before deciding to upsize, try to get rid of old things you don’t like or don’t use any more. You may have more space than you think!

What’s your WHY?

If you have strong reasons to upsize, and the financial ability to do it, go ahead. I am in the process of upsizing right now! Just keep your finances in mind as you search for a new place that better fits your needs. And, keep the reason WHY you want to upsize in your mind as well.

The bottom line is that if it’s financially possible, it’s possible! Upsizing can alleviate stress and sometimes, difficulties with roommates. It can also get you more of the features that you want, like a yard or a guest bedroom.

Whatever your reasoning is, upsizing is a big and exciting decision. Let us know how it goes!

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Author My First Apartment
Sarah

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Sarah is a dog lover and advocate for conversation & laughing at your own jokes. Since finishing her college career in communications, she began working (and living) in Atlanta. After living in a few different apartments over the last few years, she's ready to share experiences. Stay tuned for adventures, tips and advice!

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Comments (1)

  1. Avatar John Donovan

    Figuring out when it’s okay to upsize can be a complicated process. Aside from the financial aspects, there are other things to consider. Life situations do change and sometimes, upsizing is a necessary “next step,” especially if you make additions to your household.

    Reply