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how much should i put away for an aparment

im still in high school working 2 jobs, leave my grandparent house for my bday i make bout 1250 after taxes i have 2-3 room mate. i give my grandma 200$ out my pay checks. my birthday is may 9 .im leave here house how much should i save for an apartment?
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June 16 2013 - Ridgecrest
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Answers (3)

Perhaps you should consider buying.   At today's rates with an average credit score a loan for $100,000 will roughly cost you approximately $700/per month; includes property tax and insurance.   In California there are programs that allow you to put as little as .05% down.  The cost of the loan is approximately 4.5% of the loan amount but you can add that cost to your offer and then have the seller pay it.
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August 04 2013
Happy Belated Birthday, my birthday is may 9th too. I recommend going on craigslist or go in the rental guide to see how much a 1-3 bedroom apt rents for in your area. Check with your local housing authority office as well for low income rental apartments and get the list. These units are rented at a discount. Also ask if they're accepting applications for section 8. This is another program for low income housing. Check to see if you may meet those requirements. These programs are designed to help you so you can create self independence not to be on it forever as that's what some people do and hinder themselves from exceeding in life. You need to know in order to move into an apt typically requires a deposit, 1st month rent and sometimes last. Usually they require a 1 year lease agreement so be sure you are prepared to enter into a contract. Most often if you are dealing directly with a homeowner, you can try to negotiate the terms of your lease or paying only deposit and 1st months rent. If your looking at an apartment complex with a leasing office, the terms are most likely non negotiable however you can still try. Also salvation army or other local programs may help you with the deposit however you must qualify for this as well. Good source is to ask local housing authority or your utility company. They usually base it off the zip code you live in. After you have done your research, how much the average rent price is for the size of the unit you are looking for and move in cost, you can better determine how much you need to be putting away. Also factor in the target date you want to move. Hope this helps. Good Luck!
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June 16 2013
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Spend some time investigating rental prices in your area.  Most landlords require upfront first month;s rent, last month's rent and a security deposit of approximately 1 month's rent. 

Good luck with your move.

If looking for rentals on the internet, please read Zillow's FAQ on scams and internet fraud so you can avoid the tricksters ready to steal your hard earned money. 
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June 16 2013
 
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