Your Complete Guide to Living in an Apartment or Condo

Moving into a new living space is an exciting step to take, especially if it's the first time you've lived on your own. Before you get lost in daydreams about how you'll decorate and when you'll invite friends over to hang out, you should prepare for this new phase in your life.

This is your complete guide to living in an apartment or condo. Use these apartment tips to understand your new perks and responsibilities to get the most from your community.

1. Read Your Community Rules

When you sit down with your landlord or management team, they'll briefly explain the community rules you'll need to uphold. It will be a ton of new information all at once, so you'll likely leave with a helpful pamphlet or copy of your lease.

Don't let that information get lost in the moving process. Read the community rules and highlight the most important and relevant parts. You'll learn about things like quiet hours, security measures and which pets aren't allowed. This information will help you quickly adjust to living in your first apartment.

2. Respect Your Neighbors

You should always respect your neighbors, which will differ slightly if you're in an apartment or a condo. Always keep noise levels to the minimum because you have shared walls. Common spaces can also cause a problem if you've never lived on your own before.

The pool, gym and other public spaces might get dirty or crowded. Respect each area's rules and clean up after yourself to prevent angering your neighbors.

3. Get Creative With Decorating

Whether you own a condo or rent an apartment, you're likely living in a smaller space than a full-sized house. Traditional decorating ideas might assume you have more square footage, so it's time to get creative.

After you move in, check out tiny-space decor ideas like multifunctional furniture. Hang mirrors to maximize your visual space and transform your small bedroom so it feels bigger in just one day. Small statement pieces make a huge impact in condos and apartments, so play with your space to see what works without damaging the walls or floors.

4. Listen to Your HOA

Because apartments are rental spaces, they only have to abide by the community rules. Condos are different because you own where you live, so you'll have to learn to listen to your homeowner's association (HOA) management team. They'll decide what's allowed and what's not, but the rules will help you in the future.

A recent survey found that 62% of people trust their HOA to protect their property value so they can get their money back if they decide to sell. You might not live in your condo forever, but listening to your HOA team will retain your investment and potentially lead to a profit if you put it on the market.

5. Memorize Your Lease

When you sign the lease for your first apartment, you should memorize it as much as possible. It includes all the information you need, like when garbage pickup occurs and the date you can renew. It will also explain essential details like what you're allowed to hang on the walls and if you can paint each room.

If the maintenance team conducts a fire sprinkler inspection and finds evidence that you've unknowingly broken your lease, it could result in fees and eviction.

6. Review Your Needs

After you've lived in your new space for a while, review your needs. You might prefer renting because your finances aren't where you'd like them to be. If you find you need more space, upgrading to a condo is always an option. You could also sell your condo and invest in a house.

The great thing about living in an apartment or condo is that people are always looking to snatch up available units. It won't be as challenging to relocate, so you never have to feel locked down if your needs change in the future.

7. Compare Renting and Buying

There are pros and cons to both living arrangements. Apartment complexes have a maintenance team that will take care of most repairs and replacements during your stay. You'll save money by calling for help instead of paying to fix things on your own.

There's also no down payment to live in an apartment. However, you'll still have to cover a security deposit and potentially one month of rent upfront when you sign your lease.

After paying the down payment for a condo, you'll likely only need to pay an HOA monthly fee along with your mortgage. That fee covers management's cost to keep up with any pools, landscaping and elevator work that the property requires. One bonus to paying these fees is that you could get your money back if you sell, whereas you don't make any money after leaving an apartment.

8. Consider a Roommate

If you find that your condo or apartment is too expensive, you can always consider getting a roommate. You may not be able to break your lease or move out, but you can always find someone to split your monthly payment. You'll stay in the community you love until you find another solution, and you might make a friend in the process.

Check your lease or the community rules to see how many people are allowed to live in your unit and work with your landlord if the financial requirements get overwhelming.

Ask Every Question

Your landlord and management team are there to help, whether you live in an apartment or condo. Whenever you find yourself wondering about something, ask them. They'll transition you into your new living space so you'll have a great time while you're there.