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Hello all, new user, long time browser. I'm a young single male professional, and I have been offered a job in the area (Morrisville) to the tune of $38000 yr. I'm a little concerned as it is not much more than what I currently make, 34k. I'm in Ocala FL at the moment. Here I pay $565 for a 2/1 apt, which is honestly too much room for me. Is it possible to find a one bedroom apt. for ~$600 in the Morrisville/Cary/Apex area? I don't mind a little bit of a drive to work but would like to keep it around 30 minutes.
I'm a pretty frugal person and quite used to the common problems one runs into when renting an apartment. I Don't mind renting an older place, and don't really care about most of the amenities that luxury places offer. My big concern is crime. I want to eventually buy a house, but it's kinda hard to save up a down payment in any kind of time when you don't have a margin of savings every month, which is what I want to try and have.
If it helps, this is kindof the breakdown I currently have:
Rent: $565
Car: $300
Car Ins: $86
School loan: $150
Cable/Internet: $100
Phone: $58
Electric/Water/Sewer: $150
Gas: $30
Including groceries and gas and stuff, I end up spending about $1700 a month. Can anyone give me any insight into maybe areas to consider looking at? It'd be good to know where the most promising areas are so I could maybe hit those up first. I'll be coming up to the area for about a week and staying with a freind who lives in North Durham, and we'll be running all over the place looking for something. I'm not totally unfamiliar with the area (used to live in Bristol TN and would visit on vacation when I was a kid), but I know it has changed in a lot in the past few years.
At any rate though, I have to say I'm thrilled to be looking at the area. As you might imagine, Geriatric Town USA is not a great place for a young single person Seems like I'll have a ton of interesting stuff to do once I get there. Thanks guys.
There are a LOT of apartments in the Triangle area. I think should be able to find a decent place for $600/mo.
Your auto insurance might be a little less here, and your electric bill might be a bit less because it is not summer here for as long as it is in Ocala.
Expenses you'll have to consider here are:
State Income Tax
Personal Property Tax - tax you pay once a year based on the value of your vehicle
Auto Inspections - once a year, about $30
Wow - your car insurance is high... not sure if that is a state thing or not. It also depends on your age, car model, etc.
I used to live in an apartment in Morrisville - it's called Treybrooke. That was about 5 years ago or so. It was one of the most affordable apartments in the area. It wasn't fancy shmancy - but I am like you... I don't want to pay a high amount for a rental just to have upgrades.
Another tip - I'd recommend trying to negotiate for a lower rent for whatever place you find. I've done that every time I've rented and it has always worked. It never hurts to try either - especially if you are a responsible renter: good credit, have references, quiet, etc.
@ Tiger-eye: thanks, I will certainly check that complex out. And yeah, my car is two years old, I bought it brand new (first and probably last time I do that), but it's a modest vehicle and not terribly sporty I also got my windshield replaced for free by my insurance (and it didn't go up!) because of a chip...apparently FL has a rule where you can have that done even if it is just a chip since it could become dangerous.
How did you go about negotiating? I've never really thought to because the places I've lived at before have been pretty good deals... but I do have good credit and references, so that should help me out. Thanks!
As far as negotiating for your rent, landlords are looking for tenants who are conscientious and careful - if I were a landlord, I would prefer having a careful predictable tenant who paid a little less rather than a possible loose cannon that pays a little more. The loose cannon could possibly not pay on time, cause disturbances, require more clean-up and repair after vacating, etc.
When negotiating, let them know you like their complex and apartments, but your budget for rent is a little lower (I don't think $50 - $100 less in rent per month is unreasonable for your price range). Let them know you'll sign a one year lease (I would not suggest more than 1 year at a time though). But also make it clear that you plan to stay and rent in the area for awhile... indicating that they may have you more than 1 year.
Also they will probably have you fill out a pre-qualification form in which case they will check your credit. Remind them of your good credit and encourage them to call previous landlords for proof that you are a good tenant. If you are quiet (you don't play loud music, host crazy parties) - tell them so. Tell them you take good care of stuff too. Make it clear that you are an excellent tenant, so in turn, you would very much appreciate for them to cut you a break in the price. Also make it clear that you are looking at several places, but are ready to sign a lease now (when you find the right place).
Be friendly, smile. Be aware that they may not be able to give you an answer on the spot - they may have to call a manager and get back to you.
I can't guarantee that all that will work at this point in this market - it's my understanding that there are quite a number of renters right now... all that has worked for me in the past and I hope it'll work for you too!
Having lived in Florida, the state income tax comes as a big surprise when you see your first paycheck! But you'll find, as others have said, that car insurance is a lot cheaper. Also, I have Progress Energy for electric here -- just like in FL but bills for same size house are much less.
Having lived in Florida, the state income tax comes as a big surprise when you see your first paycheck! But you'll find, as others have said, that car insurance is a lot cheaper. Also, I have Progress Energy for electric here -- just like in FL but bills for same size house are much less.
I just took a look back at my earnings statements from when I moved to Raleigh, and here's how the state income tax affected me when I first moved here.
I moved here for a job that gave me a $2k per year raise over what I was making in FL (and it was less than $38k).
My take home pay was about $14 less per month with the state income tax witholding.
I did have some pre-tax deductions taken out, and I'm not sure how those impacted the state tax witholding. However, it didn't break the bank by any means, and the rest of my savings in living costs more than made up for the income tax and the personal property tax I eventually paid on my car.
A few other costs:
Groceries seem to be about the same, some things more and some things less (there are no Publix stores here, but there are about four or five different grocery chains to choose from).
Gas is a bit less per gallon here.
Cable/internet is about the same - they pretty much rip you off wherever you are.
@ Tiger-eye: Thanks, that's awesome info. I will definitely use this, as you have described me perfectly as a renter
@ hopefulx3: Yeah, I saw Progress was there and cringed a little thinking of my bills down here, but that's good to hear.
@miamiblue: Thank you! I'll certainly be happy to have several grocery chains to choose from, we only seem to have Publix down here for the most part, and their selection is kinda meh, especially on fresh fruit and veggies. Suprisingly I've not been able to find a farmer's market around here either, so I'm looking forward to maybe having that. (Used to have it in TN, it was AMAZING what you could get there for $20).
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Seems like I'll have a ton of interesting stuff to do once I get there. Thanks guys.
I also got my windshield replaced for free by my insurance (and it didn't go up!) because of a chip...apparently FL has a rule where you can have that done even if it is just a chip since it could become dangerous.
