Getting your own Apartment for the first time?

venom lyrix said:
yea top floor (3rd) corner 1 bedroom apt. It's got a unique layout room wise and it's big enough for me and my girl. It's also my first place, I'm 25 and I've saved up a chunk of change. It's always been my goal to move out and get my own place and now i'm making it happen
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I don't think it makes sense to buy a 1 bedroom apartment for $160,000 because for that kind of money you can cop a house and rent out downstairs with you living upstairs and they would basically pay your mortgage and then once you pay it off you can live rent free.

I live in the buffalo NY area and my rent is only $600 a month, Am not sure where you live but if your willing to travel and move somewhere new and cheaper you can really make a come up, am only 24 and am already looking to cop my first rental property.

I personally don't think condos are worth it because of the fees that you will have to pay forever, their hard to sell ,you have to live by the management rules and you basically don't own the land.

Renting a regular apartment would even make more sense than copping a condo IMO.
 
Man... I don't see how cats completely forget about ancillary costs.

Toothpaste, soap, laundry... That stuff costs...

Plus you have to out down all kinds of deposits for things.

I wouldn't suggest any one to move into an apartment $1k+ if they aren't making at least 45k... ESPECIALLY on the coasts and in major cities.

Oh...

And buying homes is NOT for everyone at eveey point in life...

Home ownership is overrated.

#comeatmebro
 
Nikekidwonder said:
I don't think it makes sense to buy a 1 bedroom apartment for $160,000 because for that kind of money you can cop a house and rent out downstairs with you living upstairs and they would basically pay your mortgage and then once you pay it off you can live rent free.

I live in the buffalo NY area and my rent is only $600 a month, Am not sure where you live but if your willing to travel and move somewhere new and cheaper you can really make a come up, am only 24 and am already looking to cop my first rental property.

I personally don't think condos are worth it because of the fees that you will have to pay forever, their hard to sell ,you have to live by the management rules and you basically don't own the land.

Renting a regular apartment would even make more sense than copping a condo IMO.
Click to expand...
location and market determines everything in situations like that...and adding a commute just for space is rarely worth it in most cases...

i was browsing and saw efficiencies right outside the city in PG for ~100k that id happily buy if i didnt have other things i needed to pay down first 
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thanks for everyone advice its really helping me in making my decision... like i was saying before i can stay at home and save but the reason for me to move out is for the freedom, growing as a person, more responsibilities and learning to have discipline... also i would like to be closer to my job and friends so that would help too...but my parents are not pushing me out by no means...i know i can make it but it will be tough with my paycheck i would have like 100-200 maybe less left for myself so it will definitely be tight...i am considering finding another job that pays more then i could move out... i am looking at every possibility because once i move out i am not coming back home... and to answer you question i got 20gs in my bank account and thats not counting my 401k so i will have money saved up when i do move out... and i will have more money saved up with my future paychecks and when i sell some of my collection
 
Fontaine said:
Man... I don't see how cats completely forget about ancillary costs.

Toothpaste, soap, laundry... That stuff costs...

Plus you have to out down all kinds of deposits for things.

I wouldn't suggest any one to move into an apartment $1k+ if they aren't making at least 45k... ESPECIALLY on the coasts and in major cities.

Oh...

And buying homes is NOT for everyone at eveey point in life...

Home ownership is overrated.

#comeatmebro
Click to expand...


Your not looking at it from a business prospective which is were am coming from, but am not even going to go their . This is just my opinion and everyone is entitled to theirs. But just remember one of the biggest drivers to wealth is real estate.
 
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Just wrote my first rent check ever. 800 bucks for 3 beds 2 baths 1650 sq footage.
Still doing renovations and I haven't even had the chance to move in yet
 
I just moved to a different state in September after finishing an internship. The day of my job interview, I happened to find roommates off of craigslist. We live in a nice area, with a 3-bedroom condo, and aren't stepping on each others toes. Splitting Gas/cable/electricity bills saves/saved me so much money, especially when you have to account for the initial deposits to even turn the stuff on. Based on your budget, I wouldn't live solo. If you can find people who are easy to live with, getting a roommate wouldn't be a bad idea. With that pay, you're about one car repair from not paying your bills on time.

This may help you with budgeting.

http://lifehacker.com/adult-budgeting-101-how-to-create-your-first-budget-in-1440446091/all
 
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^ did you not read my last post? i have more than enough money in my savings just in case something happens
 
Me and the girlfriend just got our own place. We live in North Hollywood:

- 1300 rent
- 130 TV/internet
- I'm guessing around 150 or so for elec.
- 80 for other utilities

That's monthly, not counting all our bills and stuff. The cost of living out here is so much higher, but I don't think I'd live anywhere outside of SoCal.
 
FreshPairs said:
monthly rent and utilities wouldnt be my problem getting my own spot. its the money you spend on kitchen and living room stuff. how much average do you guys spend when you first moved out? im one to not take hand me downs or used stuff
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I spent a few hundred. Bought the couch used and the rest of the stuff from 99 cent stores and ikea. No point in splurging out on nice furniture if I'm not owning the spot.
 
Nikekidwonder said:
Your not looking at it from a business prospective which is were am coming from, but am not even going to go their . This is just my opinion and everyone is entitled to theirs. But just remember one of the biggest drivers to wealth is real estate.
Click to expand...
stop it.

Acquiring real estate =\= buying a house.

And you're not wealthy because you buy a home.

The levels you're talking about is different.

I'm not saying owning a home is bad. Its actually good...

But its overrated.... Especially forc people that have never lived on their own before.
 
you go boy said:
thanks for everyone advice its really helping me in making my decision... like i was saying before i can stay at home and save but the reason for me to move out is for the freedom, growing as a person, more responsibilities and learning to have discipline... also i would like to be closer to my job and friends so that would help too...but my parents are not pushing me out by no means...i know i can make it but it will be tough with my paycheck i would have like 100-200 maybe less left for myself so it will definitely be tight...i am considering finding another job that pays more then i could move out... i am looking at every possibility because once i move out i am not coming back home... and to answer you question i got 20gs in my bank account and thats not counting my 401k so i will have money saved up when i do move out... and i will have more money saved up with my future paychecks and when i sell some of my collection
Click to expand...
If you banked 20k and have the 'rents paying the student loan, I would skip the renting portion and straight cop a 2 or 3 family property and live free so to speak.
 
when you guys say that your rent should only amount to a week pay, do you mean before tax or after tax?
 
@Fontaine Never said you will get wealthy by "just buying a house" and I also never said you should buy a house the first time you live on your own .
 
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Anyone here live out in Orlando? My best friend and his family moved out there last year and I'm really thinking about moving down there and getting an apartment with him after this contract IT job I'm doing is over. He's telling me you can get a decent two bedroom for around $750 a month. I'm going to fly out there soon to visit and see how the area is and look into jobs.
 
I live in Orlando.  Although you can get a 2 bedroom for $750, it won't be where you want to be.  It'll likely have that transient feel with a decent exterior but a ton of sketchy people living in and around the complex, or it'll be a solid 20miles from downtown/action (which isn't necessarily a bad thing just factor in a 30min commute).  My girl and I are currently looking at moving tow a new apt or renting a house and the number's we're seeing for the nicer 2bedroom apartmnets range from 1200-1500.  Again, apartments for 750 are possible, but imagine who your neighbors will be.  As a professional, you don't want to be living next door to any trouble.

Extra-- check out Lake Mary and Waterford Lakes area (both fairly nice areas with a lower cost of living, which is due to the distance from downtown)
 
I'm moving out my parents crib in may. After subtracting Rent, utilities, and $200 for food, I have 1200 left per month for cell phone, gas and w/e else I need to pay.

You just have to budget for things and be careful with your money, don't go on random spending binges or make dumb financial decisions (like buying your lunch at work every day).

I'm also leaving the crib with 12k in the bank sooo yeah :lol:

But seriously, be careful of getting a roommate also, make sure you got all your legal stuff together if you do and y'all sign a contract. Worst thing in the world is to end up with a crazy/irresponsible roommate and you end up with the entire rent falling on you or you get kicked out because they don't pay.
 
malikdagoat said:
I'm moving out my parents crib in may. After subtracting Rent, utilities, and $200 for food, I have 1200 left per month for cell phone, gas and w/e else I need to pay.

You just have to budget for things and be careful with your money, don't go on random spending binges or make dumb financial decisions (like buying your lunch at work every day).

I'm also leaving the crib with 12k in the bank sooo yeah :lol:

But seriously, be careful of getting a roommate also, make sure you got all your legal stuff together if you do and y'all sign a contract. Worst thing in the world is to end up with a crazy/irresponsible roommate and you end up with the entire rent falling on you or you get kicked out because they don't pay.
Click to expand...

I feel like having $$ in the bank when you leave is a very important factor. I'm not movin out of my spot till I reach that point in my savings where I'm comfortable. I'm in single thousand digits right now ($X,000)
 
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