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Old 05-08-07, 06:28 AM   #1
ravenmore
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Should I move or not

A math puzzle. Here's the decision I'm facing. Lease is up. They are raising my rent on my 2 bed x2 bath apartment to $920. In 6 months ('round December), I'll be looking to buy/close on a house. It's just me and two cats, so I've been kicking around the idea of moving to a less expensive apartment to save $$$ until then. Thing is, best I could find is a 1 bedroom (650 sq feet) for $680/mo. Also, I'd have to pay $45 app fee, $300 in deposits, and prorated first months rent of $585 at new place and $285 at the old.

I hate moving, lol. Should I bite the bullet and move, then move again in 6 months to save a little $$$, or stay put? I'm leaning towards moving, as I think it would save me around $1k over the 6 month lease if I figured it right...

I've been up to my eyballs looking at apartments, work, and loan apps for a house. Just wanted a fresh/outside perspective. You know how you can't see the forest sometimes when you're surrounded by trees - uh, er, something like that.

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Old 05-08-07, 06:40 AM   #2
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Well, if you're sure about the closing on your house, then just stay put; but those things never seem to go as planned, so it may be better to move. You'd be counting on delays in closing and you'll be in a more economical flat with less pressure. Don't forget to take familiar stuff with you so the cats can feel at home during the moves
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Old 05-08-07, 06:45 AM   #3
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How much is your current rent? Are the apt. you are living in now fully occupied? If not, perhaps you could negotiate a lower rent than the full increase for the remainder of your stay there. It would be worth a try not to have to move.
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Old 05-08-07, 06:50 AM   #4
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Quote:
Originally Posted by ravenmore
A math puzzle. Here's the decision I'm facing. Lease is up. They are raising my rent on my 2 bed x2 bath apartment to $920.
God that's cheap.
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Old 05-08-07, 07:00 AM   #5
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Go down and state your case with management at your current place. Explain what a great tenant you are and how they will be saving money by having you there. Tell them how long you have been there, etc. See if they will hold/reduce current rate to keep you there. If not, them move.
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Old 05-08-07, 08:03 AM   #6
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Quote:
Originally Posted by ravenmore
A math puzzle. Here's the decision I'm facing. Lease is up. They are raising my rent on my 2 bed x2 bath apartment to $920. In 6 months ('round December), I'll be looking to buy/close on a house. It's just me and two cats, so I've been kicking around the idea of moving to a less expensive apartment to save $$$ until then.
Sigh... everything is so cheap everywhere else, I'd kill to pay 920 for a bdrm 2 bath.

Since your buying a house, I might move, the money saved (assuming it'd be a grand or two) could help with the down payment or help furnish your house. And getting everything thing organized for a move into your new home might be good idea, since you'll be pretty busy dealing with finacing and realtors.

But I am pretty friggin cheap...
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Old 05-08-07, 08:06 AM   #7
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Quote:
Originally Posted by BostonFixed
God that's cheap.
2bed, 2bath, 1000sqft - $775 a month (after 10% College Student discount, but still). Upside - door leading straight from the bike/study to outside, 2 major blocks from one of the largest LBS's in the nation. Downside - north dallas isn't exactly cuture central.

Ravenmore - you figure you're going to save about 1k, but moving into a smaller place will likely mean you're going to have to get rid of some stuff maybe? which you'd want to replace after you move perhaps? factor that into the big picture. And how much time it's going to take to move and how much your time is worth.
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Old 05-08-07, 09:45 AM   #8
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Dang...most place around here are 5 to 600$ per room and utilities are never included. 2 bedrooms usually end up costing 1500 (1700us)
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Old 05-08-07, 09:49 AM   #9
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Quote:
Originally Posted by jsharr
Go down and state your case with management at your current place. Explain what a great tenant you are and how they will be saving money by having you there. Tell them how long you have been there, etc. See if they will hold/reduce current rate to keep you there. If not, them move.
...or try to negotiate a smaller increase if they won't hold the line on the rent.
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Old 05-08-07, 09:51 AM   #10
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The difference is rent is $2240. You'll get the deposit back right? So I'd do it and not unpack anything I could possible do without. But then I never rented anything that wasn't condmed.

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Old 05-08-07, 10:09 AM   #11
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Well - not so sure I'd get my deposit back at my current place. They always seem to find something nitpicky IME. I'd hope I would but I'm not counting on it.

Current place is $920 so:
$920 x 6 = 5520

New place:

$585 prorated first month
$285 prorated last month at old place
$3400 for $680 x 5 remaining months
$300 in deposit + pet deposit ($75 refundable)
$150 - cost of moving/movers (guestimating)
$45 - app fee

$4765 - total cost of moving to new place and staying there 6 months

$755 - is the total savings between the two, assuming the move cost are what I estimated. (I can easily see that being more actually). This doesn't factor in what my time is worth either of course.

To be honest, now that I've done the math that way it probably makes more sense to stay.

Cost of living is different in different places of course. Our salaries are probably somewhat lower also than in places where rent is so much higher. I remember I was looking at a job in CA that was tempting because the salary they were offering was significantly more. By the time I figured out the increase in cost of living I realized I'd actually be taking a pay cut and turned it down.
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Old 05-08-07, 10:13 AM   #12
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I'm sure this won't help, but... you live in Texas. Therefore, you should move.

Also, wouldn't you have a security deposit coming back from your current place? I didn't see that in your calculation.
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Old 05-08-07, 11:45 AM   #13
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Doesn't seem worth it to me to move. Hate moving and when you consider YOUR TIME in how long it takes to settle in to an hourly wage (your $150 is awfully low for moving costs - you're probably looking more at $500 ($100 truck, $100 each to someone to carry stuff down x 3, your time in packing and unpacking, lunch for everyone). I would talk to the management.

Another option is that if you REALLY want to save money throw most of your stuff in storage, take only what you need to get by (I'm sure you could do with a computer, one desk, CDs, TV, bed) and share a room in a place. By the prices you're talking about you might be looking at 200-300 a month for a room for rent and now the savings start making sense. Plus your stuff would be packed up ready to go. I was 'homeless' for six months in between when my lease was up at my old place and when my new place was ready. I was able to save a bunch by couch surfing some days and long commutes others until everything clicked into place. It was worth it though and I knew the end would be in site; though yeah I was really tired and stressed for a few months. It was easy to move into the new place, was able to rent a cargo van and make a bunch of small trips.

Say goodbye to dating anyone in the interim though
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Old 05-08-07, 12:00 PM   #14
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the monetary payoff is negligible over time. also, moving induces stress. move once. to your new house. your sanity will reward you.
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Old 05-08-07, 12:04 PM   #15
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Yeah, the $775 difference really isn't worth it. That also assumes that you'll get ALL of your deposits back for both places. I say stay put and just work a couple hours overtime a week and that's a lot less hassle than moving everything. Around here, 2bd/2bt apartment goes for double that. And the mortgage on a house like that would be quadruple! You're getting quite a deal even with the rent-increase.
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Old 05-08-07, 12:49 PM   #16
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For 775, I'd stay, I'd only move if it at least a grand or more
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Old 05-08-07, 02:57 PM   #17
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Quote:
Originally Posted by ravenmore
They are raising my rent on my 2 bed x2 bath apartment to $920.
My roommate and I are paying $950 for a 1 bedroom 1 bath apartment. Flippin' Berkeley!
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Old 05-08-07, 03:00 PM   #18
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To me $1000 is not worth the trouble of moving only to do it again 6 months later. I believe it also costs money to move, not to mention your free time. Moving sucks, Id wait it out until you get your house.

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Old 05-08-07, 03:05 PM   #19
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My roommate and I are paying $950 for a 1 bedroom 1 bath apartment. Flippin' Berkeley!
So you guys share a bed?
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Old 05-08-07, 03:07 PM   #20
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So you guys share a bed?
OF COURSE NOT! We each have our own beds.

But we do share a shower
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Old 05-08-07, 03:19 PM   #21
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Buy a house. Your progeny will thank you.
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Old 05-08-07, 10:19 PM   #22
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Don't forget the fun of canceling and opening new accounts for one or more of the following: electricity, heat, phone, water, cable, etc... twice. Plus updating your mailing addresses. I hate moving, so for only 6 months I'd stay put.
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Old 05-08-07, 10:20 PM   #23
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Quote:
Originally Posted by cal_gundert05
My roommate and I are paying $950 for a 1 bedroom 1 bath apartment. Flippin' Berkeley!
When I lived in Lancaster County, PA, I had a 2 bedroom apartment for $475 a month! The down side was dodging "Amish exhaust" while road riding, but I managed to deal with it.
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Old 05-08-07, 10:26 PM   #24
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Quote:
Originally Posted by HigherGround
Don't forget the fun of canceling and opening new accounts for one or more of the following: electricity, heat, phone, water, cable, etc... twice. Plus updating your mailing addresses. I hate moving, so for only 6 months I'd stay put.
Also keep in mind another move is another credit check and another address on your residence history, which can affect your loan process when you go to buy that house. Don't move. If you have a good relationship with your landlord, talk to them --maybe they don't raise it until you move out in December? You never know....
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Old 05-08-07, 10:29 PM   #25
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Rather than move, why not rent your extra space?
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