Author Topic: Free rent for longer commute?  (Read 3600 times)

Horrid Mischief

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Free rent for longer commute?
« on: June 17, 2014, 11:40:04 AM »
First post. Just growing out my stache' and have a decision to make.  I just re-located back to my home state and I'm looking for housing. 

I have an opportunity to take a position as a "security resident" where I would be given an apartment and utilities for free in exchange for being "on-site" during the evenings if an alarm goes off.  The "job" would entail some light door-checking and keeping an eye out and while I keep my 9-5 job.  The down side is that it will be about 25 miles one-way from my current job. Call it 50 miles round trip and about an hour each way.  If I choose an apartment close to work (walking/biking distance) the going rate is about $1500 a month for a one-bedroom. 

So, what do you guys think; trade two hours of my time five days a week plus commuting costs to save $1500 + utilities and put that money towards building my stache' or pay the going rate with no commute close to work?  (I plan on keeping the job, so looking for another isn't in the cards right now.) Would love to hear your perspectives.  Thanks!

surfhb

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Re: Free rent for longer commute?
« Reply #1 on: June 17, 2014, 11:55:39 AM »
If you add in all the extra costs of travel, time spent in car, 2 hours a day for security, ex. Does it add up to be less then $1500?   ;)

From someone who drives 50 miles one way I can say it sounds like a no brainer

In the end you're agreeing to a side pt job
« Last Edit: June 17, 2014, 11:59:14 AM by surfhb »

rmendpara

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Re: Free rent for longer commute?
« Reply #2 on: June 17, 2014, 12:42:40 PM »
First post. Just growing out my stache' and have a decision to make.  I just re-located back to my home state and I'm looking for housing. 

I have an opportunity to take a position as a "security resident" where I would be given an apartment and utilities for free in exchange for being "on-site" during the evenings if an alarm goes off.  The "job" would entail some light door-checking and keeping an eye out and while I keep my 9-5 job.  The down side is that it will be about 25 miles one-way from my current job. Call it 50 miles round trip and about an hour each way.  If I choose an apartment close to work (walking/biking distance) the going rate is about $1500 a month for a one-bedroom. 

So, what do you guys think; trade two hours of my time five days a week plus commuting costs to save $1500 + utilities and put that money towards building my stache' or pay the going rate with no commute close to work?  (I plan on keeping the job, so looking for another isn't in the cards right now.) Would love to hear your perspectives.  Thanks!

I suppose if $1,500 > (cost of commuting + value of time spent commuting), then it seems worthwhile.

Depends on what $18k is worth to you. You didn't post how much you'll be making, but even if it's $100k/yr, that's still a solid chunk!

It could be a way to save up a ton of money for a year, as you'll be saving $1,500+util each month ($18k+). If you can deal with being busy during the week, I'd totally go for it! I'd also take that time to find a place to get with a roommate in a year closer to work to get the $1,500/1br down a little bit.

Happy driving!

greenmimama

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Re: Free rent for longer commute?
« Reply #3 on: June 17, 2014, 12:47:24 PM »
Have you checked into the same opportunity closer to where you work?

It's not the 25mi that would bother me, it's the one hour commute, we live 25mi from my DH's work but it only take him about 30min.

What will it cost you for gas, wear and tear on your vehicle? That will add up really really fast.

gimp

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Re: Free rent for longer commute?
« Reply #4 on: June 17, 2014, 12:49:16 PM »
That's $18k in after-tax money. It will probably cost you just around half that to commute, versus living next door to work and not commuting at all. I'd say it's a no-brainer to take it, my opinion.

Eric

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Re: Free rent for longer commute?
« Reply #5 on: June 17, 2014, 12:53:22 PM »
That's $18k in after-tax money. It will probably cost you just around half that to commute, versus living next door to work and not commuting at all. I'd say it's a no-brainer to take it, my opinion.

I agree.  There are very few reasons why any of us would recommend a long commute, but saving $1500/mo on rent would be one of them.  There's pretty much no way that your commute will cost you that much, even including time. 

Horrid Mischief

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Re: Free rent for longer commute?
« Reply #6 on: June 17, 2014, 01:15:53 PM »
That was the way I see it as well, but I wanted to see if I was missing something in my calculations a member here might point out. 

The program is with a county school system, and the county I work in doesn't have a program like it; so doing the same thing closer to work isn't an option.