Dear,
My landlord asked me to leave the apartment that I am currently living in since she is moving to town and needs a place to live. Despite the physical and mental hassle of moving, I think it is going to be a good opportunity to review my needs. My current rent is equivalent to 15% of my net income for a 3 bedroom apartment (1400 ft2).
After a intense search for the perfect apartment (there were a lot of requirements such as being on the top floor - no one dragging furniture at 3 a.m. above me) I end up with TWO contrasting options:
Option 1: One bedroom apartment (530 ft2) on the top floor which rent corresponds to 10% of my net income. It is unfurnished and I will need to spend a little on appliances (will need a stove) and minor renovations. I would end up saving ~ 65% of my net income.
Option 2: A two bedroom penthouse (1400 ft2) furnished and with top of the line finishing. The rent corresponds to 20% of my net income. I would end up saving ~ 55% of my net income. It is a really nice apartment, with a Jacuzzi on the exterior area of the second floor (it is a duplex).
About me: I live alone, 35 years old, single, no wife, no kids, and no intention to have kids or get married. During my spare time, I really enjoy staying at home watching movies, learning new things, and resting. Actually I don't like going out. Those reasons are leading me to choose Option 2.
It has being indeed a dilemma for me. I don't want to FIRE ASAP. I am enjoying my current job, duties, and boss (working on R&D, exciting project). However, there's a voice in my head saying "you can't spend that much on rent, you should be saving".
Any advice?