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Old 05-30-2014, 07:52 PM
 
9 posts, read 14,362 times
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Hey, just wanted to provide an update. I signed the lease for the Back Bay apartment I mentioned in this post. I tried really hard but couldn't avoid the broker's fee. I submitted an application offering $1475/mo with a 2 year lease and it was accepted. Just goes to show it never hurts to try!

About utilities, I'm only paying for gas and electricity. I spoke with NSTAR and the current tenant who said electricity is usually $30. Gas will vary, but I looove the cold and will use a vortex heater for the shower. Don't need to pay for internet because my family has Comcast at home and there is a hotspot accessible from the apt.
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Old 06-02-2014, 09:06 AM
 
Location: Mass
974 posts, read 1,883,390 times
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Good job! Having a longer lease helps you against rent increases and the owner with a stable tenant.

I've always opted to pay more to live in a more convenient location. The time and money I would've spent commuting has always been offset by being closer to work.
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Old 06-02-2014, 11:37 AM
 
1,296 posts, read 1,052,403 times
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$1500 a month rent on "low" salary? Just out of curiosity, what would one consider "low" 'round these parts, and what percentage of their take-home salary do people normally spend on rent?
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Old 06-02-2014, 11:55 AM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,938 posts, read 36,728,963 times
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I think 50% of take home on rent and utilities combined seems pretty normal nowadays (from my unscientific poll).
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Old 06-02-2014, 12:03 PM
 
398 posts, read 742,427 times
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Originally Posted by bigfatdude View Post
$1500 a month rent on "low" salary? Just out of curiosity, what would one consider "low" 'round these parts, and what percentage of their take-home salary do people normally spend on rent?
lol that's what i was thinking! but I guess I mean.."low" is subjective? For me, a low salary is anything under $40k, certainly if I was making that $1500 is way out of the question..
My current salary is quite decent for someone my age (24) but I spend 15% of my monthly pay towards rent.. but that's because I moved to a city with a lower COL. I'm sure if I was in Boston, it'd be around 20% with roommates and everything
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Old 06-02-2014, 01:17 PM
 
288 posts, read 631,283 times
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Quote:
Originally Posted by bigfatdude View Post
$1500 a month rent on "low" salary? Just out of curiosity, what would one consider "low" 'round these parts, and what percentage of their take-home salary do people normally spend on rent?
We have a 2.5 bedroom in Southie a couple blocks from a red line train station. My husband and I grudgingly pay $1650 for it because the only utilities covered is water. So that's $825 per person. Our two person household makes $175K+ a year, so I guess we are paying 19% of take home pay to rent. We're in our early 30s with no kids, no car, no pets. I'm a native Bostonian and I grumble at these rental prices. Our friends (all native Bostonians) think we are the spendthrifts of the group because they are getting way better rental prices in Dorchester, Roslindale, Quincy, Malden, and even Newton. All the singletons have roommates or live with family.

As a Bostonian, I'm really puzzled why out of towners gravitate toward the most expensive parts of Boston. From South Boston, we live 8 minutes from the South End, 12 minutes from Beacon Hill, and 25 minutes from Copley and so it's jaw dropping for us why anyone would pay the sky high rents to live in the thick of everything when they can just pay $70 for a monthly T pass to enjoy the same amenities. We have out-of-state friends ask us what's a good neighborhood to rent in Boston and they will bring up Copley and Beacon Hill, and we'll go "Whoa, whoa, that's where the rich people live. You newbie peon accountants and lawyers with crushing school debt have no business renting luxury apartments there."

Last edited by sharencare; 06-02-2014 at 01:30 PM..
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Old 06-02-2014, 07:27 PM
 
9 posts, read 14,362 times
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Quote:
Originally Posted by sharencare View Post
We have a 2.5 bedroom in Southie a couple blocks from a red line train station. My husband and I grudgingly pay $1650 for it because the only utilities covered is water. So that's $825 per person. Our two person household makes $175K+ a year, so I guess we are paying 19% of take home pay to rent. We're in our early 30s with no kids, no car, no pets. I'm a native Bostonian and I grumble at these rental prices. Our friends (all native Bostonians) think we are the spendthrifts of the group because they are getting way better rental prices in Dorchester, Roslindale, Quincy, Malden, and even Newton. All the singletons have roommates or live with family.

As a Bostonian, I'm really puzzled why out of towners gravitate toward the most expensive parts of Boston. From South Boston, we live 8 minutes from the South End, 12 minutes from Beacon Hill, and 25 minutes from Copley and so it's jaw dropping for us why anyone would pay the sky high rents to live in the thick of everything when they can just pay $70 for a monthly T pass to enjoy the same amenities. We have out-of-state friends ask us what's a good neighborhood to rent in Boston and they will bring up Copley and Beacon Hill, and we'll go "Whoa, whoa, that's where the rich people live. You newbie peon accountants and lawyers with crushing school debt have no business renting luxury apartments there."
True, this is definitely something I've struggled with. I could be paying less to live outside of Boston, but this is my first time living in a new city with a new job. I figure, if anything I can move outside next year but for now I'd want to live in it all and experience the city. I also have a dog and stayed in Fenway while apartment searching. Everyday I walked the 30-40 minutes back and forth with him to Newbury or Boston Commons because I just love the vibe there so much more. Actually being in that part of the city and experiencing it is worth the higher rent (at least for a year) IMO. Here's hoping I've made the right decision!
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Old 06-03-2014, 01:55 AM
 
288 posts, read 631,283 times
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Quote:
Originally Posted by evgoose View Post
True, this is definitely something I've struggled with. I could be paying less to live outside of Boston, but this is my first time living in a new city with a new job. I figure, if anything I can move outside next year but for now I'd want to live in it all and experience the city. I also have a dog and stayed in Fenway while apartment searching. Everyday I walked the 30-40 minutes back and forth with him to Newbury or Boston Commons because I just love the vibe there so much more. Actually being in that part of the city and experiencing it is worth the higher rent (at least for a year) IMO. Here's hoping I've made the right decision!
Ah, well, then enjoy it and soak it in for all of us. I guess if you are going to spend a high ratio on housing, it's better to do it now when you don't have kids to worry about.

By the way, you don't have to move outside of the city to find affordable rent. There are many other Boston neighborhoods that you might enjoy with a cool urban vibe and reasonable rent.

If you like walking your dog, you might like Jamaica Plain and the Emerald Necklace area.
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Old 06-03-2014, 08:55 AM
 
1,296 posts, read 1,052,403 times
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Quote:
Originally Posted by sharencare View Post
We have a 2.5 bedroom in Southie a couple blocks from a red line train station. My husband and I grudgingly pay $1650 for it because the only utilities covered is water. So that's $825 per person. Our two person household makes $175K+ a year, so I guess we are paying 19% of take home pay to rent. We're in our early 30s with no kids, no car, no pets. I'm a native Bostonian and I grumble at these rental prices. Our friends (all native Bostonians) think we are the spendthrifts of the group because they are getting way better rental prices in Dorchester, Roslindale, Quincy, Malden, and even Newton. All the singletons have roommates or live with family.

As a Bostonian, I'm really puzzled why out of towners gravitate toward the most expensive parts of Boston. From South Boston, we live 8 minutes from the South End, 12 minutes from Beacon Hill, and 25 minutes from Copley and so it's jaw dropping for us why anyone would pay the sky high rents to live in the thick of everything when they can just pay $70 for a monthly T pass to enjoy the same amenities. We have out-of-state friends ask us what's a good neighborhood to rent in Boston and they will bring up Copley and Beacon Hill, and we'll go "Whoa, whoa, that's where the rich people live. You newbie peon accountants and lawyers with crushing school debt have no business renting luxury apartments there."
$1650 for a 2.5 bedroom in Southie near red line - how in the world did you manage to pull that off? That would be a steal even in Hyde Park or Roslindale, let alone Southie - I've seen plenty of studios and one bedrooms go for more than that in Broadway area.
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