Author Topic: Should I move?  (Read 3148 times)

ash7962

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Should I move?
« on: March 04, 2015, 11:48:50 AM »
First off, I think the answer might be yes, but I want to get other people's opinions on if its worth it.  I guess another question is what amount of savings is worth moving for?

A little (lot) information:  Currently living in a 1 br ~550ft sq 580 sq ft apartment in a kinda crappy building but a good Chicago neighborhood.  Haven't had any problems with neighbors or the landlord, and my maintenance guy is great.  The problem is that my rent is being raised to 1340$ this year and utilities are annoying.  When I moved in, all utilities except electric were included in the rent (which was 1285$ at the time).  Last year they separated utilities from rent (ended up being 43-85$/mo) AND raised the rent to 1325$.  The kicker is that I don't have control over the heat so I have no control over how much I pay for gas (stove is even electric).  Not only that, but the water is billed based on the building then distributed out to the tenents using a ratio that is based on how many people are living in an apartment.  So utility situation sucks.  I also question whether I need the 1br apt because I'm only 1 person, and I can only be using either the living room or the bedroom at a single point in time.  I hardly ever use my living room when I'm alone because my computer is in the bedroom, or I'm reading on my bed, or cooking/eating, or I'm not home at all!  I probably spend more time cleaning the living room than I do actually living in it.

Onto potential new places, if I lived in a studio rent would be somewhere in the 850-1100$ range.  I feel like I should move to save money, but I'm having trouble convincing myself.  I have 2 cats and I'm not sure they would enjoy being cooped up all day in the smaller place, and many places have move in fees and pet fees.  Also it turns out there are larger studios than my current place that still cost less in rent/utilities.  My estimate of moving fees would be somewhere in the 50-500$ range (one time).  I'd have to spend time finding a place and actually moving to the new place.  Lastly I know a lot of my furniture would not work great in a smaller place, so I'd have to do some refurnishing.  My current furniture is pretty crappy though (4 yr old abused Ikea furniture mostly), so I might be starting to replace those for more quality (hopefully found on craigslist) pieces anyway?  I know I'd probably avoid this until they were falling apart or I'm forced, so I probably won't actually do it unless I move to the smaller place. 

So, help me out... should I move?  What if I only end up saving 200$ a month?  Is it worth it to go through the hassle of moving?
« Last Edit: March 04, 2015, 01:27:24 PM by ash7962 »

GizmoTX

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Re: Should I move?
« Reply #1 on: March 04, 2015, 11:55:12 AM »
Go see what's available. You can't make this decision without knowing your alternatives.

jmusic

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Re: Should I move?
« Reply #2 on: March 04, 2015, 01:06:48 PM »
So, help me out... should I move?  What if I only end up saving 200$ a month?  Is it worth it to go through the hassle of moving?

In the scheme of things, a $15 rent increase isn't a huge deal.  But, have you considered moving into a 2br and getting a roommate (or just rooming with someone who already has such a place)?

RexualChocolate

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Re: Should I move?
« Reply #3 on: March 04, 2015, 01:14:11 PM »
What Chicago neighborhood are you in for 1340 in a studio(assuming not even 1bdr due to 550 sq ft)? Sounds like River North which has a few crappy buildings that still charge premium rent. Some even have Section 8 in them which blows my mind.

Just move a few blocks north to Gold Coast or even further north if you don't mind commuting. Lots of volume for the ~1100 range for a larger unit, ~800-1000 in wrigleyville for huge 1bdrs.

Oddly enough, unlike basically every other city, Chicago doesn't offer that much of a deal for roommates. The pricing is pretty much 'per bedroom' in the downtown area.

ash7962

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Re: Should I move?
« Reply #4 on: March 04, 2015, 01:14:44 PM »
Go see what's available. You can't make this decision without knowing your alternatives.

I have been looking at what's available and I have appointments to go see some new places.  I'm just not sure the 200$-500$/mo rent decrease is enough to justify moving.  I'm absolutely sure I could find another apartment I like in the range I listed, but then I have to move, risk the new landlord being shitty, and spend money making a different place work.

ash7962

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Re: Should I move?
« Reply #5 on: March 04, 2015, 01:21:16 PM »
What Chicago neighborhood are you in for 1340 in a studio(assuming not even 1bdr due to 550 sq ft)? Sounds like River North which has a few crappy buildings that still charge premium rent. Some even have Section 8 in them which blows my mind.

Just move a few blocks north to Gold Coast or even further north if you don't mind commuting. Lots of volume for the ~1100 range for a larger unit, ~800-1000 in wrigleyville for huge 1bdrs.

Oddly enough, unlike basically every other city, Chicago doesn't offer that much of a deal for roommates. The pricing is pretty much 'per bedroom' in the downtown area.

Currently living in Lakeview, and it is a 1br apartment.  I went and recalculated and my place is more like 580 sqft, so I was off by a bit.  The building isn't super terrible, but compared to some of the other lobbies I see it is crappy.  I've been looking a lot in the past week and it seems that I'm paying a premium for the privilege of having my apartment separated into a living room and a bedroom instead of just having it all in one big space.

ash7962

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Re: Should I move?
« Reply #6 on: March 04, 2015, 01:26:45 PM »
So, help me out... should I move?  What if I only end up saving 200$ a month?  Is it worth it to go through the hassle of moving?

In the scheme of things, a $15 rent increase isn't a huge deal.  But, have you considered moving into a 2br and getting a roommate (or just rooming with someone who already has such a place)?

I agree a 15$ rent increase would not be a huge deal, and I had actually haggled a bit to get it that low.  Since I've moved in my cost to live there has increased 55$/month then on top of that 43-85$ a month because of them increasing rent AND charging me for utilities.  So at best I'm paying 98$ and at worst I'd paying 140$ more in Jan/Feb because they're blasting the heat.  In addition to that I've been thinking about downsizing my living arrangements which would save an additional 200-500$ depending on where I go.  So 200-300$ feels like borderline not worth it to me...

frugaliknowit

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Re: Should I move?
« Reply #7 on: March 04, 2015, 01:28:16 PM »
What Chicago neighborhood are you in for 1340 in a studio(assuming not even 1bdr due to 550 sq ft)? Sounds like River North which has a few crappy buildings that still charge premium rent. Some even have Section 8 in them which blows my mind.

Just move a few blocks north to Gold Coast or even further north if you don't mind commuting. Lots of volume for the ~1100 range for a larger unit, ~800-1000 in wrigleyville for huge 1bdrs.

Oddly enough, unlike basically every other city, Chicago doesn't offer that much of a deal for roommates. The pricing is pretty much 'per bedroom' in the downtown area.

Currently living in Lakeview, and it is a 1br apartment.  I went and recalculated and my place is more like 580 sqft, so I was off by a bit.  The building isn't super terrible, but compared to some of the other lobbies I see it is crappy.  I've been looking a lot in the past week and it seems that I'm paying a premium for the privilege of having my apartment separated into a living room and a bedroom instead of just having it all in one big space.

You can do a lot better moving North.  In Uptown/Edgewater, you can get a 1BR for under $1,000.  You can locate strategically near transit.

RexualChocolate

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Re: Should I move?
« Reply #8 on: March 04, 2015, 01:34:36 PM »
Yep, you definitely pay a premium for the wall between your bedroom and living room. If you don't entertain or have people over much, or don't care, then just go studio. If you still want the 1BDR, move further North(wrigley proper), or check out Gold Coast/West Loop/South Loop/River East for ~1000-1200

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Re: Should I move?
« Reply #9 on: March 04, 2015, 01:42:02 PM »
I have been looking at what's available and I have appointments to go see some new places.  I'm just not sure the 200$-500$/mo rent decrease is enough to justify moving.  I'm absolutely sure I could find another apartment I like in the range I listed, but then I have to move, risk the new landlord being shitty, and spend money making a different place work.


To what degree the move is going to be worth it depends in some measure on how long you would expect to live in your new place.  Amortizing your moving costs across 36 months instead of 12 is going to make a big difference.  So... try your best to select a new place that you think you can live with / in for a while.

Good luck.