Living close to work worth the high cost?

[burninglights]

Hey everyone,

Long time reader, first time poster. Two years ago I opened a business in a suburb about 25 minutes from a mid-sized city, which I had been living in for 8 years. I'm looking for affordable living in this suburb but not much is turning up. There is an apartment complex half a mile from my office but it is $900/month for a one bedroom, which would be about 27% of my monthly income.

I've had no luck trying to find a roommate to rent a 2 bedroom, or finding a room to rent in a nearby house that would be much cheaper, and I'm running out of time. There aren't a lot of single youngish people out here. Curious if yall would think the nearby apartment would be worth the cost. Otherwise, I'd probably have to settle for a room in the city, which I can realistically get for about $500. Thoughts?

edit: If I'm using the 50 cents/mile cost rule, the cost would pretty much be a wash -- I'd be saving about $400 month (38 miles/$19 dollars a day) if I could bike to work. Still, I have a hard time justifying the cost as the '50 cent rule' seems like an overestimation of expense...

[okits]

How much time would you save commuting, every work day, if you picked the apartment?  Would the energy saved mean the difference between good vs. great work performance, the ability to pursue more training or a side hustle, meaningful  attention towards personal relationships and hobbies?  Will you save money on food by having your own kitchen (ability to cook and store food without theft)?  Can you AirBnB the place out, occasionally?

[burninglights]

Thanks for thr thoughts Okits.

TBH I can't really answer a lot of those questions because I've never lived so close to work before. It would be more of an experiment in Mustachianism.

I dont think I'd save much on groceries, though, as I eat at home most of the time now. I probably could Air Bnb a few times year, though. Hadnt thought of that...

[Erica]

Some acquaintances of ours were in your predicament. They purchased a forest service cabin and pay about $150 a month now to live in it, mostly weekends (Fri-Monday). Their business is open Mon-Friday so they spend the night there alot

There are new laws in the last few years for these cabins, but offhand, cannot recall what they pertain to. I recall looking up the law to learn full time living is fine, you only need to be gone 2 wks out of the year. Not something the Rangers may want to know but it is the law. These cabins have many restrictions, everything from the color of the exterior paint to garages being disallowed to no satellite internet installed. Much research needs to be done first. The cabin they bought didn't have many restrictions besides the paint color and no garage.They enjoy electricity, water, satellite internet, and snow mobiling in the winter. They purchased one on a hill. So if the rangers drive by, they'd need to make a special trip up their driveway to view any clutter

$900 for an apartment is awfully expensive, imho

[soccerluvof4]

Am i missing something here? What are your current living conditions, expenses etc.... and why must you move?

[burninglights]

Oh, sorry -- I have to move because the landlord is selling the place I'm renting in a couple months. Current commute is 25 minutes each way. I'm currently paying about $450/month (with 2 roommates) which is on the relatively low end for this area.

[Dicey]

What are the amenities like in the new location? Can you walk to groceries, post office, services? The time is as important as the savings in commute costs.

My vote is to move closer, but I would seriously consider getting a 2BR if you can qualify for it. Keep the master lease in your name, then get a roommate. This is considered subletting, so make sure the lease doesn't prohibit it.

[Noodle]

I'm a big fan of "Why not try it?" when it comes to questions like this. You're not signing for a mortgage, just a lease, so give it a go for a year. Track your expenses, monitor your well-being, and 3-4 months before the lease renewal, use that information to evaluate staying or making a change.

Personally, I picked the "more expensive closer to work" approach and it has been great for me. Not just a short commute, but being able to run home during the day to let in workers, pick up packages, change clothes after I dumped something down my front, etc. Well worth the cost. YMMV.

[FiftyIsTheNewTwenty]

At half a mile from work, you don't even have to worry about the bike.  You can walk there in 10 min -- an enviable situation!

[FIRE Artist]

At half a mile from work, you don't even have to worry about the bike.  You can walk there in 10 min -- an enviable situation!

Yes, and since it is your company, you don't have the concern of corporate relocation, or getting a new job an hour away. 

[mtnman125]

I live .5 mile from work and it's the best decision I ever made.  I'm not a big "city person", but the hour in traffic/train/etc it saves me both ways is nearly priceless.

Especially with a baby at home now, I'm able to come home for lunch almost everyday to hang out, make lunch, let my wife grab a shower, whatever.

I say go for it, if it doesnt work out you can always move.

[FireHiker]

I live two miles from work in a HCOL area. It is absolutely worth it to me. I am really bad and don't walk or ride my bike very often, although it does happen occasionally (shame I know...will try to start next year but it is hard with weird kid schedules sometimes) but I get a TON done at lunchtime. My husband and I work together so we only drive one car almost every day unless we need to divide and conquer after work. We get most of our errands done at lunch time, run home for lunch and do chores like laundry, food prep, etc. It is wonderful. I used to commute 35-40 minutes each way (14 years ago now) but have lived within 3 miles of work for the last 14 years. Hands down one of the best decisions I have ever made.

[Engineer93]

I was in a similar position as you about two years ago.  I decided to pay $1000 a month rent to live 1/2 a mile from work and it was an excellent decision. I realized I saved money in every other category and while my monthly budget was still probably a little higher, nothing beats the 10 minute walk to and from work.  Like other have said, go for it and if it doesn’t work out you can always move.

[Tdub]

I moved a block away from work, and like others have said, it's one of the best decisions I've ever made.

I am in the office earlier than everyone, out after everyone, yet I still have more free time to myself in the day than them.  It's been a win-win for both my personal life and my career. 

My rent is $2500/mo for a 800sqft single bedroom (yes, ultra HCOL area).  If I was willing to commute 30min each way, I could probably get that down to $1900 or so.

In return for the higher rent, I've saved money on:
- Vehicle expenses (fill up gas every couple months)
- Groceries (I'm close to really great and cheap produce markets)
- Dinners (I occasionally eat free food at work when I work late)
- Books (I'm walking distance to the library)
- Internet (I get away with a hotspot on my phone for urgent stuff, and walk to the library or closest office for more thorough stuff)

More importantly, I'm expecting my compensation at work to increase significantly because of my improved performance.

Even if there was no financial upside, the psychological benefits are amazing.  I am more relaxed, don't deal with road rage, and have a nice, sit down breakfast every morning.

[HawkeyeNFO]

Spend time doing what you want, or spend time in your car (maybe in traffic).  Hmmmm....

[DaMa]

Another vote for living close to work.  I am 4 miles from work now, and am hoping to get closer when my lease is up.

[PaulMaxime]

Commuting sucks. Move closer and I think you won't regret it.

I used to take a shuttle to work ~2 hours total a day. Switching to a 1 mile bike ride in my city changed my life for the better in so many ways.

[burninglights]

Thanks for the thoughts, everyone. The near unanimous vote to move closer really goes to show that Mustachianism is a lot more of a systems approach to life than merely an exercise in frugality.

A wrinkle that I didnt mention is that within that half a mile there is a busy intersection with no pedestrian accomodations (crosswalk, etc), so it would be somewhat of a mad dash across it every morning/evening. I plan on going out and giving it a shot today to see how realistic it is to walk it.

[soccerluvof4]

Thanks for the thoughts, everyone. The near unanimous vote to move closer really goes to show that Mustachianism is a lot more of a systems approach to life than merely an exercise in frugality.

A wrinkle that I didnt mention is that within that half a mile there is a busy intersection with no pedestrian accomodations (crosswalk, etc), so it would be somewhat of a mad dash across it every morning/evening. I plan on going out and giving it a shot today to see how realistic it is to walk it.

Well there are hazards anywhere when you think about it if your walking but be careful and if need to if daylight pickup a neon green vest to where or night time some flashing/reflective lights/Clothes.