Apartment Recommendations (Meridian Hills: lease, new home, neighborhoods)

[MsVista]

Originally Posted by sheerbliss

Sorry, I don't know any. You might pick up a Weekly View to see if anyone has a place advertised.

Thanks for the Weekly View tip!

[indy_317]

You likely won't be able to find much in any "must move to" or "up and coming" or "trendy" areas at your price point. I just checked and Riverview Apartments down near IUPUI has "Workforce Housing" based rental prices. Doesn't really seem like a whole lot better than most places based on the prices on their webpage:

https://www.homeisriverview.com/work...n-indianapolis

$922.00 for a one-bedroom, and this is the discounted price for middle income earners? Wow. I really feel for people who don't have the money, desire, or option to purchase a decent small home. Renters are almost having to fork over $12K/year for shelter and getting zero equity.

You might try searching "workforce housing" and various neighborhoods or municipalities in the area to see if anything cheaper comes up. I know a nice complex up in Noblesville off 146th Street was offering income based rent. There is a similar complex going to be built in Fortville which is a NE suburban small town (but the overall area is growing fast).

Have you even considered trying to find a small one-bedroom house? I'd almost tell someone to save up 10%, get an interest only 7/1 ARM and go that route. The biggest issue with this route is that the market tanks, but even then, if one is able to save some or make some principal payments, before the first adjustment they hopefully have enough equity to refi to a fixed rate mortgage, or maybe get another interest only ARM from another lender.

[sheerbliss]

Back in the late 80s, I was sharing a two-bedroom apartment and making around $5 an hour. My share of the rent was $150/month; utilities were included IIRC. So I had to work 30 hours (before taxes) to make the rent.

Now--I see some two-bedroom apartments for rent in Irvington for around $800 per month, more or less. $15 an hour seems to be the new $5 an hour; at that rate, it would take 27 hours to make rent if you had a roommate.

When I was a new homeowner, it took 50 hours to make the mortgage payment. During layoffs, it was twice that.

Part of the reason for high housing costs is the cost of building supplies, along with some pent-up demand. Personally, I'd hold off buying anything until supplies get back to normal.

[MsVista]

I have zero interest in owning a home, especially since I don't plan on staying in Indiana any longer than another year. Even if I wanted to, I wouldn't qualify nor could I afford to fix anything, buy appliances, etc. etc.

I've done a lot of research, as I always do, and already found a few apartments that fit my budget. I was merely hoping folks could provide some other location recommendations and/or info on property management and realtors that are at least semi-reputable.

[MsVista]

I never said I wanted to live in "...any "must move to" or "up and coming" or "trendy" areas..." It just so happens that Irvington and Mapleton-Fall Creek have apartments that fit my budget and I like the areas. I don't need nor desire to live in a trendy area. I was merely asking if anyone had other recommendations on rentals and/or property management and realtors that are at least semi-reputable.

I have zero interest in owning a home.

I don't want to live in Noblesville or Fortville.

[sheerbliss]

Totally agree it makes more sense for you to rent.

There's also the matter of houses (in Irvington, at least) being much cheaper to rent than buy, and I see several houses for sale on the Neareast side have had their price cut. If/when prices come down, owners who bought high will have to bring money if they want to sell the house or wait until prices goes back up. It's a terrible time to buy.

[MsVista]

I considered renting a small house but then I realized the cost of utilities would probably be a lot more expensive than an apartment. I'm sure I'd have to pay for water and trash, which I've never had to pay for but I suspect this is going to change wherever I end up moving to. I've already resigned myself to the fact that the chances of finding a place in my budget that has outdoor space, or even anything remotely close to what I have now, probably isn't going to happen. If I have to downsize, I don't think I can lose much more than 50sq ft. without selling stuff and/or finding a cheap storage unit. I currently have 800sq ft.

[sheerbliss]

Trash pickup is free in Marion County. I don't know whether landlords charge tenants renting houses for utilities.

[MsVista]

Oh they do. I've yet to find a home for rent where the landlord/property co. doesn't charge for all utilities. I've even seen some house rentals where you have to provide all or some of the appliances.

The new owners of my complex are now charging all new tenants water and trash with the rent. All I currently pay is electricity.

[MortonR]

Originally Posted by sheerbliss

Trash pickup is free in Marion County. I don't know whether landlords charge tenants renting houses for utilities.

Just to clarify, it's not "free", it's paid through property taxes, so the property owner pays for it.

RM