Budgeting, house hunting and furnishing a flat can be tiresome and expensive if done the wrong way. Below, we will provide you with some suggestions:

1. Determine a budget

Currently, the national median rent is $1,752, but rent prices vary widely by region, flat size and market trends. You can use this figure as a general guide to determine how much rent you can afford.

Based on this, you can also determine your monthly budget by totalling up your current monthly bills (such as food, petrol and car payments) and subtracting them from your monthly income to see how much money you have left.

You should also make sure you have a good credit history, as many rental agreements require you to agree to submit to a landlord's credit check. Landlords want to see a good credit score - preferably above 670 on the FICO scoring model.

2. Create a flat wish list

Now that you've established a budget, it's time to make a realistic wish list of features and amenities you want in your flat. There's always a chance you won't get everything you want-especially if you're on a budget-but it's helpful to keep your wish list in mind during your search.

The wish list you create should consist of two parts:

MUST HAVE: This section includes amenities and features that you absolutely cannot live without. For example, if you have a car, you need parking; if you have a dog or cat, you need pet privileges.

Nice-to-have: This section includes perks that won't put you off, such as a gym or laundry area.

3. Start looking for a flat

You can start flat hunting a few months before your ideal move-in date by checking out neighbourhoods, apartment complexes, central locations, etc.

In most cases, flat hunting can take anywhere from two months to two weeks - it varies from person to person. Therefore, give yourself plenty of time to search for properties and view them in person.

To help with the search, you can visit Realtor.com®. Enter the neighbourhood, city or postcode you're interested in living in and add a variety of filters to make it easier to find options that meet your budget and criteria.

4. Complete the rental application

Once you've found your ideal flat, you'll need to fill out a rental application. Please bring your ID, social security card, references, your last three pay stubs, and your most recent bank statement.

If you plan on applying for more than one rental, you can either fill out one rental application manually at a time or create a renter's profile on Avail that contains all the information the landlord may need from you. This saves time and money, and limits credit checks.

If you don't have an extensive credit history, you may also need a co-signer. The co-signer will also need to provide the same information to the landlord and fill out a rental application.

5. Sign the lease agreement

Remember to read the lease agreement carefully before signing. While additional costs may not be hidden, they may not be obvious either. For example, your rent may not include parking, Wi-Fi or utilities.

Make sure you agree to everything on the lease agreement before you sign it. If you wish to change something in it, discuss it with your landlord and make sure it is added to the lease in writing.

6. Buying furniture and other flat necessities

Buying essentials for your new flat can be overwhelming and expensive if not done correctly.

Here is a list of items that most first flats must have if you want to live comfortably. However, if you don't have the budget for it, you can skip some of them, such as a TV or carpet.

7. Moving into your new flat

Since this is your first flat, there may be very little furniture to move. If this is the case, things will be much easier. If you do have a lot of stuff to move, then you will need to hire and arrange for a moving company to buy packing supplies, pack boxes and leave them near the door on moving day, help you keep track of all the items you need to move, and make sure that everything is ready for the move.