Any extra money you can save (toward a 6 month safety buffer, and then investing for retirement) every single month while living within your means is typically the best option.
Comment on Is it better to rent a cheap/shitty place, or rent something suitable that you struggle to afford?
whoreticulture@lemmy.world 2 months ago
My situation:
current place: ($1530) -1:15 drive from work
- small building, linear studio apartment shape, maybe 30x9 feet? small kitchen/bath
- rural, 20 min drive from city, hour walk to nearest town
- finished interior, but mice/rat problem
- landlord kinda weirdly tracking my movements, she doesn’t want me working from home too many ways a week
cheaper place: ($600) -50 min from work -standalone MIL in a shared house, bath/kitchen in main house, 9x9 feet
- more suburban, roads might be too dangerous to be walkable but if not, maybe 15 min walk to town -unfinished interior… no idea if there is a mice/rat problem but the kitchen area is separate.
- got along well with potential housemates
I make $3780/mo after taxes, budget now feels tight, but not sure if the extra $1000 a month would be worth a smaller/unfinished space. I feel it might be worth it because I could save/invest extra money, or use extra money to make the rental nicer.
Gradually_Adjusting@lemmy.world 2 months ago
cabbage@piefed.social 2 months ago
Investing $900 per month makes such a gigantic difference for anyone who doesn't have an unlimited budget. That's $10800 per year even before counting interest.
A shared flat is no dream situation, but this sounds like a potentially life changing difference.
Cryophilia@lemmy.world 2 months ago
Yeah that’s an insane amount of money especially if you put it all into retirement accounts. This could supercharge OP’s retirement.
cabillaud@lemmy.world 2 months ago
how the fuck is you working from home her problem ? In my euro shit country she wouldnt even dare saying something like that
whoreticulture@lemmy.world 2 months ago
I agree 🤷🏻♂️ she is concerned about me using too much of the well water. Landlords in the US have too much power.
pixeltree@lemmy.blahaj.zone 2 months ago
Lets say you sleep for 8 hours a night and work for 8 hours a day. You have 8 hours left. You spend 2:30 commuting. You have 5:30 left. Vs the cheaper place, you have 6:20 left. Almost 1/5th more time in your day. That alone would make me choose it.
whoreticulture@lemmy.world 2 months ago
Yeah, the commute is a lot. I can wfh 2 days a week, but really I need to be in person for most of my work (as a practical matter, not a requirement from my employer).
RBWells@lemmy.world 2 months ago
Of your available options, I would definitely go with the shared housing. That’s a great deal for your area and for your income. You could actually save/invest money.
And to the people pushing on you because you rent, oh my God what the heck? I hate housing as an investment, we bought a house but it’s so expensive to maintain and the taxes and insurance, having somewhere to live for $600 a month seems like a great deal, take it.
I would hate the hour long commute, personally. Very sensitive to commute time. But if you are already doing it and don’t mind, that’s a separate consideration.
Rolando@lemmy.world 2 months ago
Sharing bathroom and kitchen can be a hassle, but it’s much easier now than later (if you ever decide to start a family.)
NeptuneOrbit@lemmy.world 2 months ago
I’m failing to see what’s wrong with the cheaper place.
whoreticulture@lemmy.world 2 months ago
It’s moving from my own place to a shared space, and I have to go outside to another building to use the kitchen or bathroom.
NeptuneOrbit@lemmy.world 2 months ago
OK. Yeah. Those are sacrifices. Shorter commute and no pests? Huge upgrades though. It sounds worth it, unless you really really value your privacy.
Commute of fifty minutes? The max for me.
And I feel something like pests would be a great reason to spend more on housing. But in this case spend less.
Definite market failure there are not more housing options at more price points in more locations and quality.
Rolando@lemmy.world 2 months ago
OP’s privacy is currently being violated by the landlord keeping an eye on how many days they work from home. (wtf?)
whoreticulture@lemmy.world 2 months ago
Heard - unfortunately no pests isn’t a guarantee, it’s more of an unknown. The floorboards are unfinished and I wouldn’t be surprised if there was something.
Yeah the housing market here is rough. Only found this cheap place through contacts.
Cryophilia@lemmy.world 2 months ago
It’s not a market failure, it’s a deliberate constraint on supply by local governments, in most cases. It’s local government interfering with the market.
Developers would LOVE to build more housing. Not that I’m any fan of developers, but they’re not the cause of the supply shortage here.
lord_ryvan@ttrpg.network 2 months ago
3×3m (which is a bed, the space for the door to open, and maybe a wardrobe but probably not), potential rat problem, can’t go anywhere else than work.
whoreticulture@lemmy.world 2 months ago
I played around with the floorplan, could fit a loft twin bed and a desk underneath, a tiny couch and tv. I do think there would be room for a dresser. Not much else storage space in the room though, but perhaps in the shared house.