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Old 12-21-2011, 11:16 AM
 
4 posts, read 7,925 times
Reputation: 10

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I will be apartment hunting within the next week in the Buffalo Grove, Schaumburg, Arlington Heights area.

I'm right out of college with an entry level position in Buffalo Grove. Can anyone help me budget the cost of living in this area? I've used a typical cost of living calculator, and it is saying to expect an increase of 62%! Eek! So I want to know how accurate that actually is.

I understand that everyone differs, but if I could just get a rough estimate then that would be very helpful. I'm 22 and will be looking to move into a one bedroom apartment.

How much can I expect to pay monthly for...
Rent?
Utilities? Gas, Water, Electric?
Tolls and Gas? If commutying from Schaumburg or Arlington Heights to Buffalo Grove in a 4 door sedan.
Food? I know this may sound odd, but the cost of living calculator said that groceries and food are 21% more expensive and that's not considering and restaurants.
Cable/Internet?
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Old 12-21-2011, 11:40 AM
 
Location: Not where you ever lived
11,544 posts, read 25,080,965 times
Reputation: 6183
Utiities are based on how much you use. When medical equipment was in the house running 24/7 it was not a big shock to see a $400 ulitlity bill for gas/electric for 1 momth. Now it is half that in cold weather and half that when it is spring and early fall.

You can only afford to pay 1/4 of your montly salary after taxes for rent. If your income after taxes is say uh $800 then you can only spend $200 per month for rent. The $600 is reserved for the unknown expenses. such as laundry, clothes and entertainment.
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Old 12-21-2011, 03:17 PM
 
Location: Lake Arlington Heights, IL
5,481 posts, read 10,057,369 times
Reputation: 2784
Quote:
Originally Posted by BurkeyLove View Post
I will be apartment hunting within the next week in the Buffalo Grove, Schaumburg, Arlington Heights area.

I'm right out of college with an entry level position in Buffalo Grove. Can anyone help me budget the cost of living in this area? I've used a typical cost of living calculator, and it is saying to expect an increase of 62%! Eek! So I want to know how accurate that actually is.

I understand that everyone differs, but if I could just get a rough estimate then that would be very helpful. I'm 22 and will be looking to move into a one bedroom apartment.

How much can I expect to pay monthly for...
Rent?

Utilities? Gas, Water, Electric?
Tolls and Gas? If commutying from Schaumburg or Arlington Heights to Buffalo Grove in a 4 door sedan.
Food? I know this may sound odd, but the cost of living calculator said that groceries and food are 21% more expensive and that's not considering and restaurants.
Cable/Internet?
Use the search function. I've posted about 3 times to different posters looking for apartments in Buffalo Grove/AH area. Then plug the recommended complexes into a web-search and you will come up with rent $. From AH/BG to BG you shouldn't have to use the tollway!
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Old 12-21-2011, 04:20 PM
 
Location: Greenville, SC
4,033 posts, read 3,267,534 times
Reputation: 7400
What does an "increase of 62%" mean? An increase over what? Same with "21% more expensive" ... more expensive than what?

If you google "budget for college graduates" you'll find a lot of sites with tips for budgeting. Also, I know my bank (PNC) has something called a "virtual wallet" which is targeted specifically at younger folks ... it lets you integrate budgeting with bill payment and your bank accounts, and has mobile apps available. If you don't already have a bank, you might consider finding one that offers a similar service.
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Old 12-22-2011, 08:03 AM
 
28,383 posts, read 67,936,355 times
Reputation: 18189
If I was right out of college I think living in Schaumburg would probably be better than living in Buffalo Grove, rents are probably a little lower too. In addition you will probably have a shorter commute and less spend on gas.

Even if you did live in BG there are no tolls between it and Schaumburg if you are going via any standard routes.

If you are used to getting college student style lunches of some bargain bar food you will probably experience a bit of sticker shock eating at even inexpensive lunch spots close to the office parks of Schaumburg where it hard to get out without spending more than $10.

I suppose if you are a light eater you can stock-up on yogurt for breakfast (Aldi has a chobani knock off that is cheap and good) for breakfast and try to eat light most nights but cooking for one can be expensive if you don't plan carefully for smart leftover re-use...

Gasoline is typically among the highest in the nation, so if your four door sedan is not already getting around 30 MPH I would shop for something like a used Civic sedan or similar fuel sipper...

Electric rates are high in the area, but since the use of A/C is the number one driver of large bills I would try to plan for a place that'll be comfortable with as little A/C as possible. I would also avoid a place with electric baseboard heat -- that can get crazy expensive with any cold weather. Much better to find a place that has a gas furnace if heat is not included in rent...

Some towns have higher water rates than others but I doubt any one bedroom apartment will pay more than $30/ mo at the max.
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Old 12-22-2011, 08:08 AM
 
Location: Lake Arlington Heights, IL
5,481 posts, read 10,057,369 times
Reputation: 2784
Quote:
Originally Posted by chet everett View Post
If I was right out of college I think living in Schaumburg would probably be better than living in Buffalo Grove, rents are probably a little lower too. In addition you will probably have a shorter commute and less spend on gas.

Even if you did live in BG there are no tolls between it and Schaumburg if you are going via any standard routes.

If you are used to getting college student style lunches of some bargain bar food you will probably experience a bit of sticker shock eating at even inexpensive lunch spots close to the office parks of Schaumburg where it hard to get out without spending more than $10.

I suppose if you are a light eater you can stock-up on yogurt for breakfast (Aldi has a chobani knock off that is cheap and good) for breakfast and try to eat light most nights but cooking for one can be expensive if you don't plan carefully for smart leftover re-use...

Gasoline is typically among the highest in the nation, so if your four door sedan is not already getting around 30 MPH I would shop for something like a used Civic sedan or similar fuel sipper...

Electric rates are high in the area, but since the use of A/C is the number one driver of large bills I would try to plan for a place that'll be comfortable with as little A/C as possible. I would also avoid a place with electric baseboard heat -- that can get crazy expensive with any cold weather. Much better to find a place that has a gas furnace if heat is not included in rent...

Some towns have higher water rates than others but I doubt any one bedroom apartment will pay more than $30/ mo at the max.
NO. I would do a cost analysis first. There are web-sites that will calculate if it's cheaper to keep exisitng car vs. buying a new or newer used one. If the car is paid for and past a certain age, you are in the "sweet spot" of depreciation where operating costs often are lower than with a newer car even if it gets poorer gas mileage.
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