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I live in a house almost an hour away from work. I spend around 8 hours a week commuting and then spend 2-3 hours on the weekend cutting grass and doing yard work. Being in my very early 30s and single, it just doesn't seem to be a wise use of my time when it could be better spent on other things (meeting people in my age group, career goals, etc). So I'm thinking of renting an apartment closer to work..
First of all, am I crazy for wanting to do this? If not, can anyone give me some advice on what to look for in an apartment? And what to watch out for? I can either live in a small "run down" town about 5 minutes from work but there are no modern apartment complexes. There are houses for rent and very old 4 unit mini-apartment buildings. I can find a place between $550 and $700 per month. Another option is to live in more of an upscale town about 25 minutes away. I'd have my choice between some large apartment complexes (around $750-800 per month including cable and utilities) and smaller places. Not really sure which direction to go.
I live in a house almost an hour away from work. I spend around 8 hours a week commuting and then spend 2-3 hours on the weekend cutting grass and doing yard work. Being in my very early 30s and single, it just doesn't seem to be a wise use of my time when it could be better spent on other things (meeting people in my age group, career goals, etc). So I'm thinking of renting an apartment closer to work..
First of all, am I crazy for wanting to do this? If not, can anyone give me some advice on what to look for in an apartment? And what to watch out for? I can either live in a small "run down" town about 5 minutes from work but there are no modern apartment complexes. There are houses for rent and very old 4 unit mini-apartment buildings. I can find a place between $550 and $700 per month. Another option is to live in more of an upscale town about 25 minutes away. I'd have my choice between some large apartment complexes (around $750-800 per month including cable and utilities) and smaller places. Not really sure which direction to go.
I'm surprised no one has responded. But perhaps it's because this is such a personal issue. Every person that replies will have their own minds made up about what's crazy or not.
Personally, I really love living in an apartment. The only reason my husband and I go through times where we really think we want to buy a home, are when we wonder if we're depriving our kids of something by not having a home. Other than that, we actually really like renting.
You don't have to worry about so many things - home owner's insurance, PMI, property taxes, yardwork, higher utilities, upkeep and maintenance, remodeling, keeping the outside looking presentable, fixing the toilet that runs, fixing the holes in the walls...
A week ago, one of our neighbors set our building on fire. You might first think that this would be a downside to apartment living. However... from our perspective... a fire could just as easily happen in a home... yet in an apartment, we are way less inconvenienced or financially burdened. We simply moved to a new apartment. Renter's insurance kicked in and reimbursed us for the cost of moving and what cleaning and replacing of stuff we had to do as well as for the transferring of utilities. If it had been our home, or our neighbors home that burned... things would have been much more stressful to deal with.
We also save around $400 per month by renting - just on the cost of rent vs mortgage alone. This does not include the amount we are saving on not having to maintain a yard, the cost of upkeep and maintenance for a home, the difference in the cost of utilities, PMI, homeowner's insurance, property taxes, etc.
Some people, though, they see their house as an investment for the future. That can make sense, too... right now it's not working for most people but hopefully in the future that plan can work again. My husband and I enjoy investing our money in other ways currently, since we have extra money to play with every month because we're renting.
And as far as our kids... we live on a beautiful bike trail and they are involved in our local community center. We take a lot of camping trips and are able to sign them up for lots of fun camps and classes. We're also able to live on one income - and still save all this money. I've been a stay at home mom for over 10 years. If we had a house, our kids would spend more time in day care or after school care and we'd have less family time together - because we'd have to have two incomes. We feel like if we were to buy a home, we might have to cut back on some of these things to make up for having a larger mortgage and everything else that goes along with having a home. We still go back and forth on the subject, but renting really does spoil you...
As far as choosing what sort of apartment... you just have to go look around and most likely your gut feeling will lead you in the right direction. We personally prefer the smaller apartment communities. The larger ones are too corporate feeling and often getting things repaired is a hassle. The smaller apartment communities are often owned and run by people who take more pride in ownership and really want their tenants to be happy. You often, too, find more elderly and disabled people in the smaller communities. We see this as a good thing because they are generally more quiet and respectful. Stay away from communities near colleges - it's really horrible living around young kids who party, play their music loud, their TV loud, and hang out in the pool or on their balconies smoking and making noise all day and night long... getting into fights and all that 20-something drama... definitely not an environment that a professional adult would want to live in.
Concentrate on what's important for your situation...
You mentioned meeting people... maybe one area is better for that.
Apartment building living provides more free time... no yard to keep up and extra expenses for water... in snow country, the management probably has someone to keep the walks clear in winter.
I would look at it this way... you tried renting a home and now you are going to see what apartment life is like.
Biggest make or break factor for most people in Apartments is the relationship with their immediate neighbors...
As far as choosing what sort of apartment... you just have to go look around and most likely your gut feeling will lead you in the right direction. We personally prefer the smaller apartment communities. The larger ones are too corporate feeling and often getting things repaired is a hassle. The smaller apartment communities are often owned and run by people who take more pride in ownership and really want their tenants to be happy. You often, too, find more elderly and disabled people in the smaller communities. We see this as a good thing because they are generally more quiet and respectful. Stay away from communities near colleges - it's really horrible living around young kids who party, play their music loud, their TV loud, and hang out in the pool or on their balconies smoking and making noise all day and night long... getting into fights and all that 20-something drama... definitely not an environment that a professional adult would want to live in.
I don't expect rent to be cheaper (about the same) than what I'm paying now. But I am looking to save gas money, wear and tear on the car, and most importantly, time. I figure that there are better uses of my time at this point than cutting the grass and driving on the freeway.
I thought living in a college town would be fun but there are certainly drawbacks with that scenario.. Thanks for the info!
My experience is a apartment sooner or later become a noisy place to live and I would never want to live in one again.Talking to friends they all say apartmnets seem to draw people that care little for others.JMHO
Apartment living has its ups and downs, but I would say if you found a place you think suits your needs, go for it. Just be sure to research it very carefully.
Have you thought about trading your house for a condo? When I have found a place I am ready to settle down in, I really would like to buy, but I think our first place will be a condo. That way I don't have to worry as much about the maintenance. Also I hate commuting, and condos can be a more economical way to own something close to or in a downtown area.
Honestly, we did this. We were living in a big house, 4 bedrooms, but are now renting a 2 bedroom apartment. It saves us on heating costs (natural gas costs are a B*&CH) and electric. We don't use as much water, and really had no need for that much space!
Honestly, I think it is up to you and what your specific needs are. If you feel you need what a rental home provides, stick with that, if you think an apartment would better suite your needs, go with that.
Wait, are you renting the house or do you own it? If you rent the house, then I would say move to an apartment so that you can have a better commute and save your time and money. I used to commute for about 1.5-2 hours each way for quite a few years. I can't tell you how wonderful it is to be home in about 40 or less minutes now. For me, a very long commute is deal breaker.
As far as where to rent, that is a very personal decision. It depends on what you want out of an area. So people are more comfortable in "run down" areas than others.
My experience is a apartment sooner or later become a noisy place to live and I would never want to live in one again.Talking to friends they all say apartmnets seem to draw people that care little for others.JMHO
Not always true, I live in building that has had tenants who have lived here for 15-20 yrs. Everyone is respectfull of each other.
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