You all know my situation in that I was widowed and my income is obviously drastically, drastically lower, 1/10th of what we previously earned. I do not know yet if I will get life insurance (I do not want it and it makes me feel sick to even file for it, but recently applied at the urging of this board---but still I want to stand on my own two feet and not touch it if at all possible). I decided not to make any major changes for a year following my husband's death, so I am moving in April at the one year mark to be near our families even though I loved living here and will be sad to leave.
If you made $2000/month, had no debt, and did not need to save for retirement out of this, how much rent would you feel comfortable with? Is that with or without utilities?
I'm trying to keep my budget based on a 24k/year income as I am 100% commission-based. You know I know how to stretch a dollar.
I realize this is ridiculous low compared to most of you ladies. I'm doing what I can--I moved cross-country to support my husband's job and I was the trailing spouse, so I did not have great earning power. It's been a major life change and I need to do the best I can.
I'm planning to save money by having a roommate (my sister), not having cable TV, no data on cell, no home phone, no car--I can borrow one short-term as I work from home and will have lots of family in the area, including one with an extra car I can borrow.
I also wanted to update and tell you ladies I am in the process of dropping my COBRA and getting an individual health plan which will save me $300/month. I could have gotten a lower plan but the one I got (I'm waiting for approval) but I got some mental health coverage, so that's good. I am thankful for all the advice here that helped me get on the right track with that.
I originally had an amount budgeted for rent and have raised it up twice but am not finding anything near my roommate's job in that range at all that's decent. Just wondering if I need to rethink things...
ETA: These are my *current* expenses...they could change when I move and I've noted some categories. This is a fast ballpark budget.
Current rent: $670/month (no roommates right now) Electric: $60/month on average Water: Included right now in rent (may not be in new apartment) Sewage/Trash: Included now in rent (may not be in new apartment) Natural gas: Don't have right now (may have in new place and can be $150+ in northeast for winter) Internet: $47.12/month Phone: $10/month Gas for car: $55/month (Work from home) Groceries: $200/month including all toiletries, cleaning products Travel (to include my travel to move, scout a place before I get there, parking at airport): $45/month Gifts and Clothing: $20/month Car maintenance and repair (it's old): $50 Eating out/Entertainment/Fun/Housekeeping/General as needed help (computer repair, a grocery delivery once, parking, some needed items like printer cartridges, random): $75 Health Insurance: $160/month (just reduced it from $450/month and Rxs and copays will stay the same as they were) Dental: $40/month Copays/Prescriptions: $170/month Car insurance: $75/month Renter's insurance: $20/month Umbrella insurance: $24/month Savings for Emergencies or any little things that come up: $278.88
That's pretty spot on and as you can see, there's not a lot of wiggle room.
I'm so sorry, kwynn. I would be most comfortable keeping rent and utilities under $700 based on what you've written.
I am glad you decided to try to collect on your husband's life insurance and I really hope you receive the proceeds. I'm sorry that you feel negatively about that aspect of this and hope that you can make peace with it.
Thanks so much for your advice.
Would that be $700 for me and my roommate or $700 total for me and the roommate?
$700+utilities was originally my budget for both myself and the roommate (like we'd each pay $350 and then probably another $150 each in utilities) but that's proving to be hard.
I pay $670 myself right now plus utilities of around $200 but that's total ($870 coming out a month), no roommate. And it's a squeeze, so I was hoping to get it lower, like rent a place that's $800, we'd each pay $400, plus $150 or so each in utilities, which would actually *save* me $200/month and the place would be a little nicer.
But everything I like is $1200+ utilities and you have to do all lawn care and snow removal and many of those places didn't have all the appliances, like I'd have to buy a fridge or washer, so that gets pricey
(I don't know your back story so sorry if I offend you)
First off ((hugs)).
Please take the life insurance and use the money. I know you said you would take it but not spend it. I don't really see a point in this. The insurance was set up in case he passed and he did. He (probably) wants you to have the money.
Post by Balki.Bartokomous on Dec 17, 2012 1:20:25 GMT -5
Also, definitely fight for the life insurance money. Set it aside if you don't need it now. Then later, way, way down the road, if you really find that you don't need it, you can do something nice for someone else, like establish a college scholarship in your husband's name.
I would try to keep it a bit lower until you see how things go in the new place.
You're from Pittsburgh, right? Is that where you're moving back to? You can definitely find something decent, but not new, in the $800 range there.
I felt like $800 would be good too...but man, pickings are slim in that range. I feel like it's changed a lot since I last rented in 2007, when I had a 2/2 for $725 and included water! I also run my business from my home, so there has to be a base level of presentability (I would at least like it to if possible but realize that might be wishful thinking).
I would try to keep it a bit lower until you see how things go in the new place.
You're from Pittsburgh, right? Is that where you're moving back to? You can definitely find something decent, but not new, in the $800 range there.
I felt like $800 would be good too...but man, pickings are slim in that range. I feel like it's changed a lot since I last rented in 2007, when I had a 2/2 for $725 and included water! I also run my business from my home, so there has to be a base level of presentability (I would at least like it to if possible but realize that might be wishful thinking).
Hmm. Walnut Capital might be worth calling. They have a bunch of apartments around Shadyside, Squirrel Hill, etc., and I think they manage some places like homes that have been converted into apartments.
Greenbriar Village Apts were good for us, but they were a bit older, so might not be what you're looking for.
You can always do a lot of your meet & greets at coffee shops (Coffee Tree Roasters, yum) if you need to. Our photogs lived north of the city & so rarely met people at their homes, so I don't think it's unheard of.
I felt like $800 would be good too...but man, pickings are slim in that range. I feel like it's changed a lot since I last rented in 2007, when I had a 2/2 for $725 and included water! I also run my business from my home, so there has to be a base level of presentability (I would at least like it to if possible but realize that might be wishful thinking).
Hmm. Walnut Capital might be worth calling. They have a bunch of apartments around Shadyside, Squirrel Hill, etc., and I think they manage some places like homes that have been converted into apartments.
Greenbriar Village Apts were good for us, but they were a bit older, so might not be what you're looking for.
You can always do a lot of your meet & greets at coffee shops (Coffee Tree Roasters, yum) if you need to. Our photogs lived north of the city & so rarely met people at their homes, so I don't think it's unheard of.
Even further from the city in the east would be better since my sister's job is further out, anywhere in the East would be great...like up to 20 miles from the city in the east.
Right now, I do my meet and greets in coffee shops and Panera, but lately it's been super busy and unruly in Panera and I'd like a little more calmness.
Hmm. Walnut Capital might be worth calling. They have a bunch of apartments around Shadyside, Squirrel Hill, etc., and I think they manage some places like homes that have been converted into apartments.
Greenbriar Village Apts were good for us, but they were a bit older, so might not be what you're looking for.
You can always do a lot of your meet & greets at coffee shops (Coffee Tree Roasters, yum) if you need to. Our photogs lived north of the city & so rarely met people at their homes, so I don't think it's unheard of.
Even further from the city in the east would be better since my sister's job is further out, anywhere in the East would be great...like up to 20 miles from the city in the east.
Right now, I do my meet and greets in coffee shops and Panera, but lately it's been super busy and unruly in Panera and I'd like a little more calmness.
No one's going to drive out there! Lol.
Irwin & Greensburg will be your better bets for low $ & better places. I cannot think of any rentals in Murrysville or Monroeville for the life of me.
I am so sorry you are dealing with this. When that was my salary, I had a $500 +utilities apartment. Money was tight, but I think that was more due to my relative lack of discipline, absence of emergency fund, and a paid off but unreliable car. I think it was a workable rent at that income.
Murrysville seems a bit far out if you are meeting with clients from the city, unless you go to meet them at a coffee shop. Maybe look at Plum, Penn Hills, Verona. I think $500 each should be doable, but I know rents are higher than they used to be.
When you guys say $800, that's $800 total right, so me and the roomie would each pay $400 plus utilities? I think everything from $350-800 has been suggested and I'm thinking that's looking at a place of $700-1000 or so total if my sister and I split it 50/50.
That's right in the range I'm looking for---I really don't want to go higher than $1000 total, but it's been a challenge.
Some of you seem to know the area well. I really don't want to go into Norwin/Westmoreland/Irwin because it's way cheaper but gives me a long commute, avoids the ability to have clients meet in my home, and it's far from my sister's workplace.
I think Penn Hills, Monroeville, Murrysville, White Oak, Forest Hills, Churchill, Edgewood, Plum, etc would all be perfect. I just am not having any luck in my budget.
pitterwoo, my friend lives in a 'hood in Plum where townhouses are going for my budget each month, but it's my understanding that Plum is huge and certain parts of it are really far out and certain parts are close? Any opinion on that? I don't know Plum well at all.
cookiemonster, I see what you are saying about the life insurance. I honestly have no desire to do anything fun--maybe in a few years I'll feel better. It's hard-the person I loved to travel with is gone so I just don't care anymore about that.
peggy, I'd love your opinions about Brandywine. They own three apartment buildings I'm looking at and one I thought was a little overpriced?
Kwynn, I can see feeling that way - but if you invest it, it can grow until you're ready to utilize it (be it for your business, travel, a home, whatever). You could also use the proceeds to fund a Roth annually, etc.
Yes, I do plan for it to be my retirement savings. I can't save for retirement on my income, so I want to rely on my investments for that.
Could you do budget billing for the natural gas? I live in MN (ie cold!) and we only pay ~$40 a month in the winter for gas because we don't use anything in the summer but still pay ~$40. It's LCOL but it may not be too much more for you? I have no idea, I've always lived in a LCOL area.
Could you do budget billing for the natural gas? I live in MN (ie cold!) and we only pay ~$40 a month in the winter for gas because we don't use anything in the summer but still pay ~$40. It's LCOL but it may not be too much more for you? I have no idea, I've always lived in a LCOL area.
I'm not sure how much it is anymore...when I was in college, 2006, we had electric heat. We kept the house bitterly cold and our electric bill would *still* be $150-200 month. It sucked. I've always felt heat was really expensive.
Pittsburgh Post-Gazette says average Equitable Gas bill (that's the gas company in most neighborhoods I'm looking at) is $82.64.
also, yes even putting heat on a budget bill would probably be $80. Heat is expensive and most of the housing is old and poorly insulated. Maybe if you end up in something newer and with shared walls you will do better.
Post by countthestars on Dec 17, 2012 10:51:28 GMT -5
I think you (alone) could afford by to $500 for rent/utilities. So I would look for apartments at or under $1k. I hope you find a great place!
ETA: Would you and your sister consider a 3rd roommate? I'm not sure what the market is like around you, but it might be an option if you are finding nice 3 bedrooms and could take in another young professional.
I think you (alone) could afford by to $500 for rent/utilities. So I would look for apartments at or under $1k. I hope you find a great place!
ETA: Would you and your sister consider a 3rd roommate? I'm not sure what the market is like around you, but it might be an option if you are finding nice 3 bedrooms and could take in another young professional.
We would definitely consider a third! But we're mainly finding 2BR for $1100-1200 and not many 3 bedrooms. The nicer parts of town where the younger ppl want to live (Mt Washington, South Side Flats, Shadyside, Sq Hill, Lofts by Consol/Strip District) are very, very far above our budget.
But in the future, if we found someone, absolutely!
I'm looking at a similar budget and planning on $725/mo with another $200 for utilities. That's without a roommate. If you want a copy of my budget, let me know and I'll PM you.