Author Topic: Have to move but where? Could use some advice.  (Read 4710 times)

TKE Super Dave

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Have to move but where? Could use some advice.
« on: June 20, 2013, 08:45:55 AM »
I'm currently renting my friends place out for the next month until he and his wife get back from Europe. After that I need move out no later than mid September as they are expecting and time to get the room ready for the baby.

I've got a couple choices and I need help thinking this through

1. Move closer to work (5-10 minute commute by car but I'd probably try to bike), a park I visit a lot, a kickass library, grocery store, shopping, and a cool bar that holds free events that I like. Of course this comes at a cost of nearly half my month's income or close to it depending on the apartment (can't find cheaper already looked). Would have to be an apartment complex, no houses for rent in the area. Estimated rent 750-1000

2. Stay basically in the same area I am, far from just about everything, except a semi decent library. But is reasonably priced but not cheap and is safe. Estimated rent 550-750.

3. Move to the other side of the city. Means roughly the same price as the area I currently live in. Comes with most of the perks of number 1 but will easily add 30 minutes to my already 20-30 minute commute due to traffic and having to go through the city. Estimated rent 550-750.

4. Move slightly closer into the city. Means rent will be about the same. Area is slightly more dangerous but would be within biking distance to downtown which has everything I would want and only add 10-15 minutes commute to work. Estimated rent 600-800.

If you can't tell I'm emotionally leaning towards number 1 but the rational side of my brain is saying you’re an idiot and to consider the other options. Number 2 is not really desirable as I'm rather bored here but may be the smart play for now. Number 3 while desirable in some areas, the commute is the one thing that's turning me off. Number 4 is sort of an ok idea but I'm not thrilled about it either way.

I will be getting a raise August 1st but don't know if it'll be a standard living raise or more than that.

I would really appreciate some advice and a face punch from the people here at MMM forums.
« Last Edit: June 20, 2013, 08:57:04 AM by TKE Super Dave »

nawhite

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Re: Have to move but where? Could use some advice.
« Reply #1 on: June 20, 2013, 09:04:55 AM »
Any chance you could do #1 but get a 2 bedroom and get a roommate to split rent? Sounds like the perfect option to me if you are ok with a roommate.

Also, to make you feel better about #1 cost-wise, if at the new place you can bike and at the old place its a 20-30 min commute, thats probably like 10-15 miles each way? At 10 miles each way and $0.50 / mile to drive, you're looking at $10/work-day in savings by not driving from the old place. So ~20 work days/month = $200 per month in savings if you bike ($50-$100 in savings if you drive the short commute). If you take that into account, sounds to me like you break even paying more at the place in option #1.

Eric

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Re: Have to move but where? Could use some advice.
« Reply #2 on: June 20, 2013, 09:21:47 AM »
If you can't or you're against roommates, I like option #4.  It has everything you're looking for, but it's cheaper than #1.  I'm willing to bet that this "slightly more dangerous" area is not really dangerous at all as long as you're not into anything shady.  After living there for two months, you probably won't even notice the perceived danger you might feel as an outsider because this is now your neighborhood.  I personally have always preferred to live in a little more working class area of any city, as it's cheaper rent and there's almost always ethnic groceries that will save you money too.

Rebecca Stapler

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Re: Have to move but where? Could use some advice.
« Reply #3 on: June 20, 2013, 12:42:14 PM »
Any chance you could do #1 but get a 2 bedroom and get a roommate to split rent? Sounds like the perfect option to me if you are ok with a roommate.

Also, to make you feel better about #1 cost-wise, if at the new place you can bike and at the old place its a 20-30 min commute, thats probably like 10-15 miles each way? At 10 miles each way and $0.50 / mile to drive, you're looking at $10/work-day in savings by not driving from the old place. So ~20 work days/month = $200 per month in savings if you bike ($50-$100 in savings if you drive the short commute). If you take that into account, sounds to me like you break even paying more at the place in option #1.

I agree with crunching all the numbers involved with option #1 -- what do you save in commuting / driving costs? Is there something you can do with all the free time that you won't be commuting? Something that could be bringing in more income or saving you $$ and/or making you happy?

TKE Super Dave

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Re: Have to move but where? Could use some advice.
« Reply #4 on: June 20, 2013, 01:22:47 PM »
I am not opposed to getting a roommate. Like most people I'd prefer not to but would if it allowed me to live at #1 I'd do it. The thing is I don't know many people in this city mainly because of where I currently live is secluded from the rest of the city. The few I do know aren't looking to move anytime soon. Finding a roommate might be tricky since I don't have a for sure place and wouldn't want to risk renting a 2 bedroom without a roommate.

With regards to saving money, while I would save in other areas I'm not sure the math helps make up the difference. Your example of gas milage is close, I currently drive 11 miles to and from work. However I drive a 2001 Saturn which get's good gas milage and so I only end up spending ~$105 a month on gas and that would be cut in half. Even if you included wear and tear on the car and the bonous of dropping my $20 gym membership (all the apartment complexes have gyms) it would be close but I'm not sure it's enough.  I guess I'm going to have to crunch the numbers some more.

I actually came here to have you guys talk the emotional side of my brain out of doing something dumb but now I'm thinking that I may be doable if I double check my math.

Rebecca Stapler

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Re: Have to move but where? Could use some advice.
« Reply #5 on: June 20, 2013, 01:38:28 PM »
I am not opposed to getting a roommate. Like most people I'd prefer not to but would if it allowed me to live at #1 I'd do it. The thing is I don't know many people in this city mainly because of where I currently live is secluded from the rest of the city. The few I do know aren't looking to move anytime soon. Finding a roommate might be tricky since I don't have a for sure place and wouldn't want to risk renting a 2 bedroom without a roommate.


In that case, I would start with craigslist to find someone who wants a roommate to move in to their place. That way, you're not renting a 2 BR with the hopes of finding someone else, and you're not pairing up with someone to look for a place.

I actually came here to have you guys talk the emotional side of my brain out of doing something dumb but now I'm thinking that I may be doable if I double check my math.

I'm not sure what your financial situation is. You shouldn't do it if you don't have the $$ to pay for it.

The reason why I think #1 sounds like a better choice is because all of the other options involve at least a 30-minute commute by car, each way. Living close to work and biking is a pretty high priority MMM goal. Best case scenario, this is going to cost you $200/mo more in rent than your cheapest alternative, save you $50/mo in gas and $20/mo at the gym. So, you're looking at a $130/mo difference. Yes, $1560/year is nothing to sneeze at. Maybe there's some way you can bring that cost down (by living with roommates) or make up for it in another way.

mgreczyn

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Re: Have to move but where? Could use some advice.
« Reply #6 on: June 20, 2013, 01:48:05 PM »
#1. 
Sell car (everything you need is in walking / biking distance
     You may wind up renting a car a few times a year
Find roommate to share cost with.

TKE Super Dave

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Re: Have to move but where? Could use some advice.
« Reply #7 on: June 21, 2013, 06:29:09 AM »
I'm not sure what your financial situation is. You shouldn't do it if you don't have the $$ to pay for it.

The reason why I think #1 sounds like a better choice is because all of the other options involve at least a 30-minute commute by car, each way. Living close to work and biking is a pretty high priority MMM goal. Best case scenario, this is going to cost you $200/mo more in rent than your cheapest alternative, save you $50/mo in gas and $20/mo at the gym. So, you're looking at a $130/mo difference. Yes, $1560/year is nothing to sneeze at. Maybe there's some way you can bring that cost down (by living with roommates) or make up for it in another way.

My financial situation is pretty okay. Currently I put about about a third of my pay check into savings, I'd obviously am working towards half like MMM suggests,  and initially I thought choosing option #1 would put a stop to that.

However, I did run the numbers last night after looking at my mint budgets for this year and last and realize I forgot to take into account changes in gas, electric and water bills into account when switching. Water would be covered in regular rent and I was still including it in my estimates of what I could afford. Gas and Electric I took a look at the change from the time I've live in my friends house and the apartment I lived in prior. Assuming the apartments are about the same I could those bills would be halved and I was basing it on living in the house.

So option #1 is definitely doable in the lower rent apartments and without much sacrificing other things, I'm still looking at my budget to see if I could somehow get in my dream apartment complex which is still out of reach for what I'm comfortable but not by much.

I also happened to get a call from a job recruiter about an opportunity that a company likes me for and would be in the same area as #1 and pay significantly more. While I'm currently very happy with the company I work for and the people I work with it's worth hearing them out for the pay increase and would definitely allow me to live in #1.

TKE Super Dave

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Re: Have to move but where? Could use some advice.
« Reply #8 on: June 21, 2013, 06:52:09 AM »
Forgot to mention option number #1 with a roommate would be ideal as it would mean that at the place I'd really like to rent would be 650 which is perfect and I could definitely afford without even taking into consideration the other cost saving factors.

rubybeth

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Re: Have to move but where? Could use some advice.
« Reply #9 on: June 21, 2013, 09:08:49 AM »
#1. 
Sell car (everything you need is in walking / biking distance
     You may wind up renting a car a few times a year
Find roommate to share cost with.

I like this idea, but I have to say, as a former 1999 Saturn SL2 owner, that car was awesomely cheap and was really hard to replace with a comparable vehicle. Would it be possible to lower your insurance costs by having a shorter commute, or change your coverage to only occasional use vs. daily commuting? A change of address would prove your proximity to work.

A roommate or roommates might be a good temporary solution if you aren't sure about the decision. You can always move again, right?

Lastly, one factor with biking/walking to places are the health benefits of doing so. Less time in your car and more time outside and moving has the added benefit of making you feel better physically and mentally, possibly get sick less often, and therefore keep your longer-range health care costs lower. You might also meet other walkers/bikers this way, and make more friends/potential roommates.

Good luck!

TKE Super Dave

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Re: Have to move but where? Could use some advice.
« Reply #10 on: June 22, 2013, 11:16:52 AM »
#1. 
Sell car (everything you need is in walking / biking distance
     You may wind up renting a car a few times a year
Find roommate to share cost with.

Not sure I'm quite ready to give up the car yet. I would still do driving to see my friend and their baby whose house I'm currently living at probably close to every weekend. I've been friends with him since 1st grade and I was his best man at his wedding, so I don't see not hanging out with them as an option and I know they are going to want me to baby sit.

I like this idea, but I have to say, as a former 1999 Saturn SL2 owner, that car was awesomely cheap and was really hard to replace with a comparable vehicle. Would it be possible to lower your insurance costs by having a shorter commute, or change your coverage to only occasional use vs. daily commuting? A change of address would prove your proximity to work.

A roommate or roommates might be a good temporary solution if you aren't sure about the decision. You can always move again, right?

Lastly, one factor with biking/walking to places are the health benefits of doing so. Less time in your car and more time outside and moving has the added benefit of making you feel better physically and mentally, possibly get sick less often, and therefore keep your longer-range health care costs lower. You might also meet other walkers/bikers this way, and make more friends/potential roommates.

Good luck!
I'm not sure about my insurance if they have an occasional drive option. I would want to make sure that's the case before I do that but that is a way I could save as well. I'll check into that.

I'm definitely looking in on the roommate. I wish I just already had one.

As for the health benefits I definitely agree. I've always been a healthy person (I've even got 13 perfect attendance trophy to prove it, K-12) but I realized last year that I'd let myself go and started working out, which ironically cause me to herniate my disc due to improper form on lift.  I'm still recovering from it and doing what I can but I still can't wait to get back in to full shape.
« Last Edit: June 26, 2013, 11:28:43 AM by TKE Super Dave »

mgreczyn

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Re: Have to move but where? Could use some advice.
« Reply #11 on: June 25, 2013, 12:24:14 PM »
I've found that insurance rates are driven by 2 things (once you're not getting tickets and having accidents, that is): 1. how many miles you put on your car and 2. Where / how it is parked (i.e. low vs high crime area, in a garage vs on the street).  I would get a quote for your potential relocation areas, you might find your insurance going up by a lot if you move from the boring suburbs to the more vibrant urban area.  Does your area have a car sharing service?  If there is, look into that.  If you're not driving every day maybe it could replace ownership.
« Last Edit: June 25, 2013, 12:26:01 PM by mgreczyn »