How much money should i save up before moving to atlanta? (extended stay, fit in)

[ready2move20]

Im thinking about making a move to atlanta from this hell hole called bakersfield california... im 20 years old and single, would it be a good move for me? all i really need is a one bedroom apt..and i don't mind living in the city long as it's not in a rundown neighborhood.. how much is rent out there for a one bedroom apt.. i know it has to be cheaper than here in california...right now i got over 4,000$ saved up and getting ready for the move..please give me your honest answers about atlanta and areas in the city ..thanks.

[bayarea-girl]

Others can give you more info as to where to live and for your price range. But $4000 can go very quickly in a place you have never lived in before. Save at least 3-6 months worth of money before you move. I'm not sure what your profession is but you might want to research how long and or if there are jobs in your field available first. I moved to N. CA from S. CA with $200 in my pocket & whatever I could fit into my car when I was around your age but I would never advise anyone to follow in my footsteps. Also, have you thought about how your things will make it to your new place or how much new things will cost you? Have you ever been to GA? Are you planning on making a visit before you move? Look at what some of your initial moving expenses will be and add that to your monthly expenses that is how much you need to be saving.

[atlantagreg30127]

The "average" 1Br/1BA apartment in Atlanta runs around $850.00 a month. You can find them cheaper sometimes off the beaten path, or more expensive if you go to the more popular/convenient areas. You'll have to factor in application fees, deposits, and also deposits on your utilities (gas/electric/phone) to get them going as well.

As bayarea said, $4,000.00 will go very fast if you're not very frugal with your money, or if you don't already have a job lined up.

Your best bet since you're in that "I just want to get out of HERE" stage, is to come to Atlanta for a week. Find a good deal on a motel or an extended stay motel, and stay here a good solid 5-7 days. Try to meet up with some like-minded folks on here or other online social sites first that you can carefully meet in public places who might not mind being a tour guide for you for a couple of days, and get out and about to explore the city first. Atlanta is a love it or hate it kind of city. You want to try it out FIRST before spending all of your saved money.

[c.zhou57]

Are you a student? If airtran services bakersfield then you can fly one way standby for $100 and taxes and fly back for another $100. Spend a week here and see if you like it. I'm from Oakland and find most things to be about the same in cost with the difference in housing. Rent is cheap if you find a couple of friends and get together for a place. 1200-1400 can get you a very decent 3br place in many areas of atlanta.

[bayarea-girl]

c.zhou57, housing isn't the only cheaper thing in GA when you compare it to N. CA. But housing is the biggest and most important expense.

[dontknowwhattodoo]

I'll be doing the same thing from Northern California, ready2move. I've been to ATL countless times and can't wait to get out of California. I'll have roughly $4k and will be driving.

Good luck to you!

[netdragon]

Depends where in Atlanta you want to live. Rental prices are going up rather quickly throughout the metro. I'd use that $4k towards a down payment on an older 1br condo somewhere in the inner metro (Atlanta and first ring of suburbs) if you have the credit. You'll save money that way.

[atlantagreg30127]

Originally Posted by netdragon

Depends where in Atlanta you want to live. Rental prices are going up rather quickly throughout the metro. I'd use that $4k towards a down payment on an older 1br condo somewhere in the inner metro (Atlanta and first ring of suburbs) if you have the credit. You'll save money that way.

Not to argue, but considering the massive amount of condos being built right now in Atlanta - do you feel it would be wise for someone who is unfamiliar with the area to invest in something like that right off the bat?

I mean, as a LONG TERM investment and in the right area it might turn out ok. But the poster says they're single and 20 - and they (single 20 year olds) are not exactly known as a group for "planting roots" right off the bat. If they spend all of their money on a condo now, and want to move to a different area 6 months to a year from now, what kind of money are they going to get back from that condo once the 10,000 other new condos that are under construction in the area are finished? Just something to consider.

[netdragon]

Originally Posted by atlantagreg30127

Not to argue, but considering the massive amount of condos being built right now in Atlanta - do you feel it would be wise for someone who is unfamiliar with the area to invest in something like that right off the bat?

I would normally recommend a single-family home, but based on what he/she has in savings, even a house on Hollywood Rd would probably be out of range. I mentioned an older condo, which isn't the same market segment as the new units since they are different price points, and is where he'd save money having a mortgage versus renting. Obviously, it'd have to be in an area that he/she wants to stay for a while and preferably in an area that's saturated (to get a good price) but not oversaturated.

If not purchasing immediately, he/she probably should set a solid deadline in mind of when to purchase and plan accordingly, otherwise renting is a trap that is hard to get out of. Also, many people from Calif don't normally consider buying, since property in Calif is usually out of range.

Beyond that, for the O.P., I recommend job searching before moving here.

Originally Posted by atlantagreg30127

and want to move to a different area 6 months to a year from now, what kind of money are they going to get back from that condo once the 10,000 other new condos that are under construction in the area are finished?

Don't you think condo construction is slowing down because of the market slowdown? Most of the projects going up now have been planned for a while and a lot of the new projects are being delayed/cancelled. If he/she goes the route of renting for a while, I'd probably do a year to get a lower rent. If he/she moves in 6 months, there will be a huge cost associated with that as well since 6 month leases aren't cheap and vacating your lease is expensive. Renters may be even more tied-down than an owner since when I moved, I just rented my condo out to a tenant.

[lookinround]

To OP: I wouldn't recommend moving here without a job at *all.* If you have to do it, have a minimum of 6 months savings - and preferably more.