Before You Sign a Lease
- Calculate total move-in costs (not just first month's rent)
| Move-In Cost | Typical Amount | Notes |
|---|---|---|
| First month's rent | 1× monthly rent | Always required |
| Security deposit | 1–2× monthly rent | Varies by state and landlord; refundable (conditionally) |
| Last month's rent | 1× monthly rent | Some landlords require this upfront |
| Pet deposit | $200–$500 | May be non-refundable |
| Application fee | $25–$100 | Typically non-refundable, covers credit/background check |
| Moving costs | $200–$2,000+ | DIY with friends vs. professional movers |
| Utility deposits | Varies | Some utility companies require deposits for new accounts |
- Total move-in cash is saved and ready before signing
- Read the full lease — all of it, including addenda and pet/parking agreements
- Understand the lease break penalty (typically 1–2 months rent)
- Know what's included: parking, laundry, trash, water, pest control
- Verify lease renewal terms — when notice is required and how much rent can increase
- Photographed the entire unit before moving in (timestamp photos); email them to the landlord to create a record
- Confirmed renter's insurance is required (most leases require it) or purchased regardless
Renter's insurance: Costs $10–$25/month and covers your belongings against theft, fire, and water damage. It also covers liability if someone is injured in your apartment. Your landlord's insurance does not cover your possessions. Always get it.
Your Monthly Budget
- Total housing cost is under 30% of gross monthly income (rent + utilities + renters insurance)
- Know which utilities you're responsible for and estimated monthly costs:
| Utility | Typical Monthly Cost | Notes |
|---|---|---|
| Electric | $60–$150 | Varies widely by climate, unit size, and usage |
| Gas (heat/cooking) | $30–$100 | Higher in winter in cold climates |
| Internet | $50–$80 | Often negotiable; bundle deals available |
| Water/sewer | $0–$60 | Often included in rent |
| Renter's insurance | $10–$25 | Get at least $20,000–$30,000 personal property coverage |
- Budget includes groceries, transportation, phone, and subscriptions — not just rent
- Written budget exists (even a simple one) before first month of expenses hits
- Direct deposit set up with new address on file with employer payroll
- Automatic rent payment set up (autopay or calendar reminder — never miss rent)
Furnishing Without Breaking Your Budget
- Prioritized essentials only for the first 3–6 months: bed, couch, kitchen basics
- Avoided financing furniture — 0% for 12 months deals often become high-interest debt
- Checked Facebook Marketplace, Craigslist, and thrift stores before buying new
- Accepted secondhand items from family and friends — no shame, big savings
- Avoided buying things you don't need yet (dining table for one is not urgent)
- Total furnishing budget decided in advance and treated as a hard limit
Financial Setup Checklist
- Checking account is active and linked to your employer for direct deposit
- Savings account opened at KCCU (or HYSA) — starting your emergency fund
- At least $500–$1,000 starter emergency fund before moving in
- USPS mail forwarding set up from previous address
- Updated address with: employer, KCCU, bank, insurance, IRS (file next return with new address), subscriptions, voter registration
- Credit monitoring set up (free options: Credit Karma, your bank's credit monitoring feature)
- Know where your lease, renter's insurance policy, and move-in photo records are saved
Tax Considerations
- Update your W-4 with your employer if your address change affects state tax withholding
- If relocating for a new KC position, ask HR about relocation expense reimbursement
- Keep track of moving expenses — some may be deductible if related to starting a new job
- Note: for most people, rent is not deductible federally (some states have renter's credits)
After You're Settled
- Review your first 2–3 months of actual spending vs. your budget — adjust as needed
- Build emergency fund to 3 months of expenses as first savings priority
- Confirm 401(k) contribution at KC is at least 5% to capture the full employer match
- Identify any subscriptions or recurring charges you no longer need
- Know your lease renewal date — start thinking 60–90 days before it
This checklist is for general educational purposes. Housing costs, lease terms, and utility costs vary significantly by location. All figures are estimates. Consult your lease documents and a financial advisor for guidance specific to your situation.