Post by teengirlsquad on Apr 25, 2016 16:28:47 GMT -5
Ok, so my roommate just got engaged. This is my 6th roommate to lose to marriage and I'm tired of finding new roommates so I want to live by myself once she gets married (probably in November). I'm currently renting from her so I will have to move out, which is fine.
1 bedrooms where I am range from about $650 in an ok area of town to more like $800 in areas were I would feel more comfortable living alone. Then I would have to add utilities on top of that. Right now I'm paying $575 plus utilities.
Right now I take home about $1670 a month - so not a lot, but I'm doing fine. I'm in my late 20s and work full time while attending grad. school at night. In the January I will have to quit my job to do my final semester internship to finish my grad program. I'm taking out loans for the majority of my classes, but have paid for my summer courses out of my savings.
Can I afford a 1 bedroom, even if I have to either take out some extra loans for living expenses or ask my dad for help (and he would help, I just hate asking)? Is taking out a little extra student loans a big deal? I will finish with about $20k in student loans, but once I get a job in my new field I should about double my current take home pay.
So you expect to finish in May and then will start a teaching job in the fall? Do you think you will need to move yo find a teaching job?
Honestly, I'd suck up the roommate thing for another year. Maybe look for a shorter term sublet or roommate situation starting in the fall. You really can't afford it right now, and especially losing income in January. Sure, you can live off student loans, but it would be more prudent to live as cheaply as possible that semester so you borrow less. And then, given its teaching, you will likely be out of work January through August, and loans won't cover the summer.
Once you have a teaching job, with your new income and knowing where you will be teaching - then find a nice place!
Post by theblissisback on Apr 25, 2016 17:13:52 GMT -5
I'd look to find a apartment with utilities included. You might be able to find something that is closer to $650.
I know in my city thato sometimes places aren't listed online, instead a sign outside. Drive around a couple neighborhoods you like. And don't forget to ask around someone you know might have a mother in law space available or something.
I'm jealous though, 1 beds in my area go for at least $1300.
My rent + utilities is almost half my take home. But I have zero debt and healthy retirement and savings. It's comfortable for me. If I were you, I'd suck it up and get a roommate until you get a teaching job and have actual income numbers.
Post by explorer2001 on Apr 25, 2016 18:28:04 GMT -5
Roommate situations can suck. But you have more options than just a one bedroom apartment. Check for efficiency/studio apartments, places with utilities included, renting a room in a house, etc. I never had the luxury of being without a roommate until my exH and I moved in together, or more accurately until we divorved and I lived alone for the first time.
Also you may want to be closer to your job when you finish school and save up to move then.
Other things to consider if you've usually rented from someone vs directly from the landlord are: deposits (first, last, security, utilities), credit and background check/application fees, moving costs, etc
Post by teengirlsquad on Apr 25, 2016 18:52:42 GMT -5
I have decent savings so I'm not too worried about one time fees - mostly just worried about the monthly cost. I'll look at studios too and check around for utilities included options. If I am able to find something in the $650 range do y'all think I'd be ok?
Are you local to your dad? Can you move home until you find a job? Living at home when I was in grad school was great for me - flexibility to find a job wherever and save the extra money.
Are you local to your dad? Can you move home until you find a job? Living at home when I was in grad school was great for me - flexibility to find a job wherever and save the extra money.
No or else I would probably consider that. But I know he would help me pay for a place without question, but I only want to do that as a last resort.
Would it be possible to live on campus? It would be substantially cheaper, furnished and safe. Depending on the campus they may have grad housing or suite style single rooms.
Post by HitchedIn2006 on Apr 25, 2016 19:37:14 GMT -5
If you aren't too far from campus, and it's not too far from where you are student teaching, I would see about subleasing... People are prone to be doing study abroad or moving as a December grad.
I'd think outside the box to find a cheaper arrangement too. Someone who is not likely to get married maybe? I did the whole rely on my parents for rent money if I needed it during law school and it was messy. I'm not saying your situation would be the same but I'd be reluctant to go down that path unless you had to.
Post by spunkarella on Apr 25, 2016 20:03:33 GMT -5
Can you think outside the box and try to look at other options? In grad school I lived in a studio above an older couple's garage in a great neighborhood a bit out of the way from campus. Zero frills but very safe.
I paid $300 including utilities and the cheapest apartments in my town were more like $800 plus utilities for crappy 4-bedrooms (so $200 each). I had been paying $375 for 1/3 of a 3 bedroom before that.
I have decent savings so I'm not too worried about one time fees - mostly just worried about the monthly cost. I'll look at studios too and check around for utilities included options. If I am able to find something in the $650 range do y'all think I'd be ok?
I think so, yes. This is only $80 more a month, you can surely find places to cut that amount. Do you pay any utilities currently? I would much rather have a studio apartment than a roommate. If you can find this, I'd go for it.
On another note, maybe these roommates should be paying you. Six roommates lost to engagements? You might be some sort of magical roommate lol.
I have decent savings so I'm not too worried about one time fees - mostly just worried about the monthly cost. I'll look at studios too and check around for utilities included options. If I am able to find something in the $650 range do y'all think I'd be ok?
I think so, yes. This is only $80 more a month, you can surely find places to cut that amount. Do you pay any utilities currently? I would much rather have a studio apartment than a roommate. If you can find this, I'd go for it.
On another note, maybe these roommates should be paying you. Six roommates lost to engagements? You might be some sort of magical roommate lol.
Haha seriously though - I should offer a service: move in with me and I guarantee you'll get married within the next 2 years. And only one of them was dating someone when I moved in with them.
But seriously, thanks for all the suggestions everyone! I'm thankful I've got some time to explore options and I'll definitely keep looking around for studios or non-traditional options.
No, I don't think you can. I bring home $2,040 a month and $800 plus utilities would be a big stretch for me. You take home less than me. Of course I don't know your bills ( do you have a car payment? car insurance, gas etc.) I guess if I didn't have my car I could afford more for housing.
That said, because you will be leaving your job, I definitely would not do this alone. Sorry; I understand wanting to live alone. Good Luck on finishing grad school!
I am sure you have thought of this, but is there anyway you can start your teaching job now. My husband started teaching while finishing up the last year of his Master's degree. He has an undergrad in communications and political science, so it wasn't like they were making exceptions for math and science.
$225 a month more to have my own place? YES, I'd do it in a heartbeat and cut other expenses if necessary (eating out, cell phone plan, shopping,...) I'd eat rice and beans every single day to avoid having to deal with roommates.
While I agree with the majority voice that says staying with a roommate makes the most financial sense, there are times when there are just things to me that are more valuable than money, and adding a relatively small amount to loans I am already going to have would probably be worth it to have my own place at this point in my life.
If we were talking a massive amount of money, or something frivolous, I would have a different opinion, but since this is temporary and not a huge amount more on your student loans, I would probably go for it, agreeing with pp to make budget cuts elsewhere.
You can also consider the cost of moving twice as opposed to just once since you do plan on being on your own when you start your new job.
Full disclosure, I am speaking from the perspective of someone who was a bridesmaid 11 times, spent my 20s living with roommates, and reached a point where it was just time to have my own space. So, I get it and that is influencing my opinion.
Thanks - I totally get what everyone's said about the finances, and I am a saver not a spender and I want to make wise financial choices. But I'm really tired. I'm tired of roommates and moving every other year because someone else is getting married. Its exhausting - physically and emotionally. I'm definitely going to look for as inexpensive of a place as I can, but I'm really going to research the heck out of finding a place I can afford to live alone. And it turns out they are getting married in September.
Another alternative is to get a married couple in a roommate situation. There are fewer looking for roommates but it would solve the moving out due to marriage problem.