How much will my first apartment cost?
Finally moving into your first apartment. But this newfound freedom comes with financial challenges. As an apprentice or student, your bank account usually isn’t exactly overflowing. To make sure your dream of having a place of your own doesn’t turn into a financial nightmare, we’ve put together a list of all the important costs and money-saving tips for you.
Text: Stephanie Bartsch, Karin Lohse, Income and Budget Counseling
You can find out here:
What do I need to keep in mind before moving out of or into my first apartment?
Before you start looking for your first apartment, here are a few things to keep in mind:
- Build up a financial cushion: If possible, stay at home for another half year and set aside money specifically for this purpose. That way, you’ll start out with a cushion to cover your security deposit and initial furniture purchases.
- Household Check: Learn from your parents how to manage expenses and run a household. That’s the best way to prepare for real life.
What should I look for in a lease agreement?
The first rule of thumb is: Don't sign anything you don't understand! Lease agreements often contain complex clauses. You can also ask the landlord if you can take the lease home with you for a day.
Check whether the rental agreement contains the following important information:
- Are all ancillary costs listed?
- Is the amount of the deposit noted?
- Have all the tenants' names been entered?
- Is there a written handover protocol?
- How long is the notice period?
Base Rent vs. All-Inclusive Rent
The base rent is just the starting point. Add a flat rate of about 2 euros per square meter for utilities (electricity, heat, water, trash collection) on top of that.
Security deposit
The landlord may require a security deposit of up to three months' rent (excluding utilities) . If everything goes smoothly when you move out, you'll get your money back.
Handover Report
Make a written note of every crack in the sink and every scratch on the hardwood floor so you won't be held liable for them when you move out.
Notice Period
This is usually three months— be sure to factor that into your future plans. Also important: The three-month notice period applies to your landlord as well.
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First Apartment: Where Can I Find Financial Assistance?
Vocational Training Grant (BAB)
Apprentices can apply for vocational training assistance (BAB). You can find an overview here at Sparkasse: Financial Support for Apprentices
BAföG
If you're a college student, you can apply for BAföG. Information about BAföG: Apply for BAföG online
Grant to Help Students Get Started
If you are starting college for the first time and are under 25 years old, you can receive a one-time “Studienstarthilfe” grant of €1,000 from the BAföG office.
- Requirement: You must have received certain social benefits (e.g., basic income, housing allowance, or child supplement) in the month before the start of your studies.
- Application: Digital applications only via the BAföG Digital portal.
Am I eligible for housing assistance?
You must apply for housing benefit at the housing benefit office of the municipality in which your home is located.
As an apprentice , however, you will usually only receive housing assistance in exceptional cases (e.g., if you are pursuing a second apprenticeship or training for occupations not recognized by the state, such as yoga instructor or typesetter).
In addition, you must be of legal age and provide proof that you are responsible for covering the costs of the apartment on your own.
You can find everything you need to know about housing assistance in this article: How do I apply for housing assistance?
Where can I apply for rent assistance as an apprentice?
The good news is: Under certain conditions, as an apprentice, you can apply to the local government office for additional rent subsidies, especially if you're under 25 and can no longer live with your parents (e.g., because of the distance to your training site).
Rent Assistance Checklist:
- You are receiving BAB or BAB has been rejected because your income is too high.
- The BAB rent allowance does not cover your heating and rent costs.
- You no longer live at home.
- Before you moved out of your parents' home, you applied for a rent subsidy from the office responsible for ALG II and received permission to move out.
- Your apartment is reasonable in terms of size and price. Otherwise, you will only receive the rent subsidy that corresponds to a reasonable apartment.
When will I receive a housing allowance?
If you are under 25 years old and no longer live with your parents, you may be eligible for a housing allowance only if it would be unreasonable for you to move back in with them.
This applies, for example, if your place of training is far away or if there are serious social reasons justifying your move.
The "Hidden" Fixed Costs
In addition to rent, there are costs that many people underestimate:
- Electricity & Internet: Look specifically for bundled plans, but pay attention to the contract terms (often 24 months).
- Broadcasting license fee (GEZ): It amounts to 18.36 euros (previously 17.50 €) per household. Important: Anyone receiving BAföG or BAB can apply for an exemption! In a shared apartment, only one person has to pay—if everyone is exempt, no one pays.
- Insurance: Personal liability insurance is a must. Check to see if you're still covered under your parents' family insurance policy.
- Transportation: Don't forget the cost of the monthly pass or your car.
Application for exemption from the broadcasting fee
Other costs you should expect
In addition to rental costs, there are other costs that you should take into account in your financial planning.
For example for:
- Furniture, furnishings and also things like pans, towels, glasses, hairdryers, etc.
- Internet and cell phone costs
- Costs for food and other items such as contact lenses, clothing, hairdresser, etc.
To get a good overview of what’s known as the cost of living—that is, the additional monthly expenses on top of rent and other costs—it’s a good idea to keep some kind of household budget .
Furnishing Your First Apartment in a Sustainable and Affordable Way
Your first apartment doesn't have to be a catalog home.
- Secondhand: You can find furniture and kitchenware (pans, glasses, etc.) at affordable prices on eBay Classifieds, at flea markets, or in thrift stores. With a little creativity, you can even give bulky trash items a sustainable new lease on life.
- Set priorities: Think carefully about what you need right away and what can wait.
Keep an eye on costs with a budget book
To avoid ending up in the red at the end of the month, a household budget book is essential. Whether you use the traditional paper version or an app (e.g., "Mein Haushaltsbuch" or "Moneon Haushaltsbuch"):
If you track your spending on groceries, leisure activities, and subscriptions, you'll automatically save money.
Bonus Tip for Filing Your Tax Return: Even if you're an apprentice or a student, it's worth filing a tax return. Travel expenses and work equipment (laptop, tablet) can often be claimed as tax deductions.
What do I need to keep in mind after moving?
As soon as you move, you must update your registration with the Residents' Registration Office—and you must do so within two weeks.
You generally have two weeks to update your registration. If you forget to do so, you risk a fine of up to 1,000 euros.
Income and Budget Counseling
As a comprehensive EAP provider, pme Familienservice offers Familienservice in all situations—from psychosocial counseling and leadership development to income and budget counseling.
If you want to empower your employees in the long term, learn more here about the services offered by pme Familienservice how we can provide personalized support.
