When it comes to decorating your rental apartment, you can still create a space that’s you without losing your security deposit. Here are just a few suggestions from some of the experts to make the most of the square feet while showing off your personality:

• Armless furniture
• Ottomans which seat and store
• Graphic-patterned pillows on furniture
• Use stylish boxes to store papers and busy-looking items
• Area rugs – hide an ugly carpet and anchor the furniture in your room
• Lamps create warmth in a room – try placing on a stack of books for a different look
• Leave room between objects on a free-standing bookcase – cramming is unattractive and be sure to include some personal items like souvenirs and photos

Some easy furniture ideas:

• Push two ottomans together to create a coffee table
• Fabric-covered cushions serve as emergency seating
• Skirted tables and small bookshelves create instant storage or an eyesore cover-up

If you can see the back of your sofa, place a narrow glass-topped console behind it. Add a chair and you have an instant workspace or remove the chair and you have a food buffet when entertaining.

Art is in the eye of the beholder. Remember that objects leaning against a wall or free-standing are just as attractive as pictures and don’t leave holes in the wall – i.e. a surfboard, a branch, a large vase filled with decorative twigs, etc…

If you’re thinking of a roommate, you first need to decide if you want to room with a friend or a stranger.

Secondly, you’re going to want to live with someone who shares your common interests and has a similar budget. Having similar expectations can make life easier particularly when it comes to cleaning, paying for things and food. It also helps if you share similar sleep and studying habits.

Thirdly, whether they’re a friend or a stranger, you need open communication and some guidelines upfront. Some points to consider if you’re thinking of renting an apartment together:

• Be mindful of who you invite over.
• Address things when they’re little.
• Create a chore list to prevent one person from doing all the work.
• Establish who buys shared items and when, i.e. toilet paper.
• Never borrow or use your roommate’s things without asking.
• Treat your roommate like you want to be treated.
• Split the bills and have everyone’s name on the lease and utility accounts.

Is your home a good investment? We were brought up to think it was your best investment which would grow with you.

If you live in Vancouver where average prices are topping $780,000, followed by Toronto at $456,147 and Calgary at $398,836, it makes you think twice about buying a home. (Clearfacts)

What’s Your Best ROI?

If work, family or lifestyle make BC the only place for you, then look at all the advantages and disadvantages of buying versus renting. Perhaps you’re better off investing your money in other vehicles for a better return on investment considering BCs higher cost of living and house prices.

Other reasons which favour renting over buying include:

• not a great credit rating
• uncertainty in your job
• possibility of job relocation within your company
• high debt ratio – factoring all the front-end costs of buying
• maintenance issues – if you’re not a jack- or jill-of-all-trades, it gets costly

Maintenance issues are a huge cost of home ownership. If you’re buying a home, experts tell us to set aside 5% of the purchase price to cover maintenance and repairs. If you’re not buying, renting is a sensible option.

Affordability Guidelines – Can You Afford To Buy A Home?

Courtesy of Clearfacts, these five points below will help decide whether renting or buying is better for your financial situation.

• Be sure that the monthly cost of carrying your mortgage, plus your monthly share of property taxes and heating, is lower than 40% of gross monthly household income.
• Determine how much your payments would be if interest rates rise in the next several years.
• Be sure to have a good start on retirement savings and ensure that you will be able to continue modest contributions in your early years as a homeowner.
• If you have kids, make sure that you will still be able to regularly contribute to a Registered Education Savings Plan (RESP).
• Make sure you have money left over to furnish your home, take family trips and cover emergency expenses without going into debt.

At the end of the day, the stress caused by money issues is not worth keeping up with the Joneses. Renting makes more sense than buying a house you can’t afford.

Aside from the obvious – i.e. when is the rent due, what is the security deposit and are pets allowed? – some key questions to ask are:

•  How do visitors obtain entry?
•  Can you control the heat yourself?
•  What type of security features and fire protection are in place?
•  What is the approximate cost for utilities that are not included in the rent?
•  If there isn’t an in-unit washer and dryer, Where is the laundry and what is the cost?
•  Does the landlord live on site?

Property Management & Maintenance

If the landlord or building manager doesn’t live in your building, does he live nearby or at least in the same city or county? Consider how hard or easy it will be to contact the landlord if you have a problem that needs attention. Will you have an emergency number you can call on the weekends or in the evenings?

When something in the building doesn’t work or there is a problem, you need to know who to contact. To learn more about the landlord and maintenance of the building, also ask:

• How long has the building been under the same ownership?
• How long has the builging been under the same management?
• How long is the average residency here?

Other questions to ask before signing a lease:

• Where is the nearest public transit stop or station?
• If you have a car, Is parking included in the rent?
• Where is the parking located? One or two spaces? Is there off-street parking?
• How big is the hot water heater and is the hot water heater shared with any other apartments?

Talk To Other Tenants, Neighbours & The Police

If you can speak to other tenants in the building, ask them:

• How long they’ve lived here?
• What is the best thing about living here?
• Are there some things I need to know?

Walk around the neighbourhood and talk to local merchants and neighbors. Ask them if they can tell you anything about that complex?

If the building doesn’t have a crime-prevention program in place, call the local police station and ask, How many calls for service do they get per month from that complex?

These are just some questions to ask when looking for an apartment. Get the facts before signing the lease to ensure you find a home which meets your expectations.

Good luck.

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