A luxury apartment very rarely offers its inhabitant an inexpensive lifestyle. Because of the amenities, upgrades and other comforts, rents on such extravagant apartments are often much higher. Add to this community, parking and other fees, and your luxury apartment can easily become unaffordable. Fortunately, there are several ways you can cut costs to make luxury apartment living possible.
Watch Your Utilities
One of the most common mistakes for any apartment dweller is to overlook monthly utility costs. Water, gas and electric bills in a luxury apartment can often be surprisingly high because the appliances are newer and use more of the resource and because of the larger size of the apartment. However, just because these necessities are often expensive does not mean their actual cost can be reduced. The age-old advice of only running a washer, dryer and dishwasher will prove more than beneficial when you see how the practice can reduce your bills 20 or even 30 dollars a billing cycle.
Each appliance plugged into the wall uses electricity. True, the amount it uses while inactive is not very much probably, but when you multiply that by all of the items plugged in at the same time, the amount of electricity can be surprising. Make it a habit to unplug lamps, small appliances and other electricity-consuming items when not in use.
Negotiate Startup Costs
If you have great credit and payment history, and chances are you do since you plan on living in a luxury apartment, you may be able to negotiate the amount of startup charges the utility companies charge you. Simply by asking about a reduction of these costs, they may be waived entirely or at the very least, applied to your bills after a few months of on-time payments. Nothing bad can come from merely asking, so don’t hesitate to do so.
Negotiate with the Management Company
Many times, luxury apartment management companies will charge extra for things such as trash disposal or using the community areas, including exercise gyms or lounges. Sometimes, these charges can range from $200.00 to $700.00, and will generally refer to being an “amenity fee”. Don’t hesitate to see what the company can do to waive or reduce these costs, or at the very least prorate them over time. Don’t hesitate to point out that you will very rarely be using these amenities.
Watch Unnecessary Expenses
Your cup of morning coffee, premium cable channels, high-speed Internet, and restaurant bills are all unnecessary expenses that can make or break your ability to pay for a luxury apartment. By keeping track of these expenses for a week or more, you may be surprised at how much you are spending that you can cut back on. Limit or eliminate the amount of money you spend out of the house on food and cancel any premium cable packages. Together, these two changes may save you $200.00 to $400.00 or more a month. There’s no need to announce you are cutting back on eating out or your cable plan, which will point to your being frugal to afford your luxury apartment. Instead, tell your friends that you didn’t watch the channels as much to make them worth the expense and that you are unable to make dinner plans, but can meet up afterwards.
With a few changes, being frugal is not difficult, and just may permit you to live in the apartment you’ve always dreamed of.