getting an apartment

[TechBoyJK]

I've been living with a friend and his fiance for the past year and a half.. Unfortunately, our deal was that I would stay with them until they got married, and they are getting married at teh end of june. So I need to be out by then. I commute 25 miles each day to work, and my car gets about 23 mpg, so at gas prices the way they are, it costs about $40 a week to get to work..

I'm getting an apartment. I've decided rather than paying $450-$550 for a decent apartment in town, I'm going to pay $600-$700 for an apartment a few blocks from where I work. The gas savings, not to mention the decrease wear and tear on my car, along with the saved time of teh commute, justify the extra expense. I make $30k a year, with bennies, and have a $500 car payment, $125 cell phone payment, $100 monthly insurance, about $200 per month going towards credit cards ($2,500 in cc debt). I also spend about $300 in gas, $200 for food, $200 for fun, $35 for YMCA. I only take home about $1950 after taxes. Actually, up until last month I was getting $35k per year with $2,300 after taxes, however, I just started doing a sales job for the same company. My salary was decreased, but I earn commissions on top of the salary.

I did this job before, a few years ago, without the salary, and I made over $45k that year. Even though I only get about $2000 a month after taxes for salary, in my first two weeks on the job I already earned $1,200 in commissions. I've got other things going, so i forcast my take home for the month, with salary and commissions will be close to $3,500.

I'm trying to budget within $2,000 per month though. To be safe. The next few months, anything above the $2,000 I earn (commissions, etc) will go towards debt.

So I'm going to be moving out. I'm kinda strapped for cash at the moment, so I'm trying to make sure I've thought of everything I need to make the move ok.

I found a place for $615 a month, just 4 city blocks from where I work. Deposit is $300.

Here is a link to the floorplan I like.

apartments.com link

Here is a link to general photos of the complex

apartments.com pics

The place is nice.. at least to me, and since I can walk to work I'll save about $200 per month in gas, and since it has a gym, I can get rid of the YMCA membership...

Anywho, can anybody look at the apartment ad and see if they spot anything bad? Or anything I shoudl think about? It says gas, sewage, and water included, but the range, heater, and ac is all electric. I'm happy with spending $150 in electric, and I expect it.

EDIT: Here is what I think my monthly expenses would be... It's under what I've been earning for the past year by $50 each month (not much), but its about $300 over the $2,000 budget (which is "guaranteed" salary). I expect I will actually earn much more than $2,000, so I would be completely comfortable taking on a $2,300 budget if needed, as I could just back off how much "fun" i have, how much I drive, and not splurge on expensive foods.

Car Payment - $540
Insurance - $110
Cell Phone - $130
Food - $200
Fun - $150
Gas - $150
Cable Internet - $30
Electric - $150
Parking - $80
Rent - $615
CC Payments - $150

Total - $2,305

EDIT: my reasoning for starting this thread was to ask about expenses... what are some other expenses I might have to deal with??

 

[MegaVovaN]

Apartment gyms are not what you think they are. If you're thinking barbells or a place to do dips/pullups, forgetaboutit.

I lived in 2 apts, and both had a really small room with couple threadmills, stair stepper, and one machine. The second apt has like 6 different pairs of DBs. And that's it.

So, I doubt you can get rid of your YMCA membership.


edit: Looked at pics. Like I said - it is a small room with NO free weights or place to do bodyweight exercises. Just couple machines, threadmills, stair stepper and a bike. I won't call that "gym".

 

[TechBoyJK]

Originally posted by: MegaVovaN
Apartment gyms are not what you think they are. If you're thinking barbells or a place to do dips/pullups, forgetaboutit.

I lived in 2 apts, and both had a really small room with couple threadmills, stair stepper, and one machine. The second apt has like 6 different pairs of DBs. And that's it.

So, I doubt you can get rid of your YMCA membership.


edit: Looked at pics. Like I said - it is a small room with NO free weights or place to do bodyweight exercises. Just couple machines, threadmills, stair stepper and a bike. I won't call that "gym".

well, all I use the ymca for now is to swim around for relaxation (apartment has a pool), and I don't do it that often. otherwise, I just use the stairstepper for cardio and a few nautalus machines. The "gym" at the apartment has that.. I have my own free weights I would have in my apartment. So I think I can get rid of the ymca membership..

 

[Scarpozzi]

Sounds like a good deal living where you work. Gives you the option to go home for lunch and save even more cash.

Don't forget that you'll likely need to lay down a deposit with the electric company if you don't have an account with them. There are also other 'moving' expenses that will add up quick for that first month. Try to save some extra cash for incidentals.

The best thing about living in an apartment is that you're not bound to any apartment complex...you can move around after 6 months or a year if you aren't happy there. Depending on what you want out of life and what your career goals are, consider looking at buying a house down the road. (not saying to do it, but consider it) It gives you more freedom to be loud, but comes with more responsibility...

Good luck on finding the right place for you.

 

[Scarpozzi]

Originally posted by: TechBoyJK

Originally posted by: MegaVovaN
Apartment gyms are not what you think they are. If you're thinking barbells or a place to do dips/pullups, forgetaboutit.

I lived in 2 apts, and both had a really small room with couple threadmills, stair stepper, and one machine. The second apt has like 6 different pairs of DBs. And that's it.

So, I doubt you can get rid of your YMCA membership.


edit: Looked at pics. Like I said - it is a small room with NO free weights or place to do bodyweight exercises. Just couple machines, threadmills, stair stepper and a bike. I won't call that "gym".

well, all I use the ymca for now is to swim around for relaxation (apartment has a pool), and I don't do it that often. otherwise, I just use the stairstepper for cardio and a few nautalus machines. The "gym" at the apartment has that.. I have my own free weights I would have in my apartment. So I think I can get rid of the ymca membership..

Unless you're trying for bulk, it's amazing what a few small dumbbells (40lbs and less) and calisthenics can do.

 

[Injury]

Your expenditures are ridiculous.

You don't even have your own home but you have a $500/mo car payment? Where are your priorities? I know this isn't why you posted the thread, but why are you spending $200/mo on "fun", $35 on YMCA and $125 for a stupid phone when you are probably paying a crapload every month on the interest for the credit card debt. PAY IT OFF FIRST.

Anyway, take your lunch break and walk by the building. You can't judge a book by its cover, but you can get a decent idea by seeing who comes out of it. The floor plan looks fine, having gas included in the costs is fantastic and should save you at least a few hundred bucks over the year...

Either way, you need to schedule a time to check it out. You gotta trust your gut when walk in. If it doesn't feel safe... if it doesn't seem like you'd be happy calling it home, just walk away.

What are similar units in the area going for?

the "yellow flags" for me is that the deposit is $300... either they are really trying to get people in there fast, or the place is a dump... which brings me to my next point. The picture in the ad is (I think) a rendering of a building. It doesn't look like a photograph. If they had to use a CG image, what does the place REALLY look like?

 

[Funyuns101]

I wish that I could find a similar sized apt. for that cheap in & around DC.
but $125/month for you cellphone bill... isn't that really high??
at least your gas bill should decrease a lot... being able to walk to work is a great benefit: no road rage & fighting w/stupid drivers.
but yeah, often times apartment gyms suck... $30 for the YMCA is pretty good.

 

[Scarpozzi]

Originally posted by: Injury
Your expenditures are ridiculous.

You don't even have your own home but you have a $500/mo car payment? Where are your priorities? I know this isn't why you posted the thread, but why are you spending $200/mo on "fun", $35 on YMCA and $125 for a stupid phone when you are probably paying a crapload every month on the interest for the credit card debt. PAY IT OFF FIRST.

Anyway, take your lunch break and walk by the building. You can't judge a book by its cover, but you can get a decent idea by seeing who comes out of it. The floor plan looks fine, having gas included in the costs is fantastic and should save you at least a few hundred bucks over the year...

Either way, you need to schedule a time to check it out. You gotta trust your gut when walk in. If it doesn't feel safe... if it doesn't seem like you'd be happy calling it home, just walk away.

What are similar units in the area going for?

the "yellow flags" for me is that the deposit is $300... either they are really trying to get people in there fast, or the place is a dump... which brings me to my next point. The picture in the ad is (I think) a rendering of a building. It doesn't look like a photograph. If they had to use a CG image, what does the place REALLY look like?

I agree with you Injury. I would take a mortgage over a car payment any day. However, I'm going to add that I work with a guy that's in his late 50's. He's retiring in a few months... He's always rented and still doesn't want to buy a house. He's in a rent-controlled building and is happy being able to call someone in to fix anything that goes wrong with the place. I'm not in a big city either.... So...at best, my recommendation to assess career and life goals is what I have to stick with. If I wasn't going to be in the same place for more than 2 years, I wouldn't buy a house. That goes double right now when the market is soft in some places and falling apart in others. Maybe in a few years the market will change and it will be easier to get a home loan again.... Until then, the OP should be saving up some extra cash ($20-40k if possible) to pay down on a house or a wife?

 

[TechBoyJK]

Originally posted by: Injury
Your expenditures are ridiculous.

You don't even have your own home but you have a $500/mo car payment? Where are your priorities? I know this isn't why you posted the thread, but why are you spending $200/mo on "fun", $35 on YMCA and $125 for a stupid phone when you are probably paying a crapload every month on the interest for the credit card debt. PAY IT OFF FIRST.

What are similar units in the area going for?

the "yellow flags" for me is that the deposit is $300... either they are really trying to get people in there fast, or the place is a dump... which brings me to my next point. The picture in the ad is (I think) a rendering of a building. It doesn't look like a photograph. If they had to use a CG image, what does the place REALLY look like?

Similar units, not quite as close, are actually more expensive. This loft apartment building I'm looking at is actually new (well, remodeled into loft apartments), so i suspect many of the apartments may be freshly remodeled. It's actually competitive in the area since many new lofts have opened up recently in the past year. The whole area has banners everywhere... I believe that's the reason the deposit is small, their still trying to get the rooms rented out.

The credit card debt is actually interest free. I had several cards and consolidated them.. I won't pay interest for another 6-8 months. I should have it paid off within 3-4 months and will do so before I buy any more major purchases (flat screen for the apartment, etc). I don't really want a home at the moment.. I'm really busy, and really just want a small cave to sleep, and hang out. No lawns to mow, etc...

 

[TechBoyJK]

Originally posted by: Scarpozzi

Originally posted by: Injury
Your expenditures are ridiculous.

You don't even have your own home but you have a $500/mo car payment? Where are your priorities? I know this isn't why you posted the thread, but why are you spending $200/mo on "fun", $35 on YMCA and $125 for a stupid phone when you are probably paying a crapload every month on the interest for the credit card debt. PAY IT OFF FIRST.

Anyway, take your lunch break and walk by the building. You can't judge a book by its cover, but you can get a decent idea by seeing who comes out of it. The floor plan looks fine, having gas included in the costs is fantastic and should save you at least a few hundred bucks over the year...

Either way, you need to schedule a time to check it out. You gotta trust your gut when walk in. If it doesn't feel safe... if it doesn't seem like you'd be happy calling it home, just walk away.

What are similar units in the area going for?

the "yellow flags" for me is that the deposit is $300... either they are really trying to get people in there fast, or the place is a dump... which brings me to my next point. The picture in the ad is (I think) a rendering of a building. It doesn't look like a photograph. If they had to use a CG image, what does the place REALLY look like?

I agree with you Injury. I would take a mortgage over a car payment any day. However, I'm going to add that I work with a guy that's in his late 50's. He's retiring in a few months... He's always rented and still doesn't want to buy a house. He's in a rent-controlled building and is happy being able to call someone in to fix anything that goes wrong with the place. I'm not in a big city either.... So...at best, my recommendation to assess career and life goals is what I have to stick with. If I wasn't going to be in the same place for more than 2 years, I wouldn't buy a house. That goes double right now when the market is soft in some places and falling apart in others. Maybe in a few years the market will change and it will be easier to get a home loan again.... Until then, the OP should be saving up some extra cash ($20-40k if possible) to pay down on a house or a wife?

I actually expect to make close to $80k-$90k this year. On top of my salary of $30k per year, I've already earned over $1000 in commissions in my first two weeks, and have several deals lined up that if just one lands, will net me over $7k in commissions. I've done this same job for this company before, and I was fairly successul (sometimes earning over $5k in the month, without a salary). They wanted me back so they offered the salary along with the commissions.

I don't want a home. Not yet. And yea, I'm hoping to save up some extra cash for a downpayment on a wife.. lol

 

[TechBoyJK]

Originally posted by: Funyuns101
I wish that I could find a similar sized apt. for that cheap in & around DC.
but $125/month for you cellphone bill... isn't that really high??
at least your gas bill should decrease a lot... being able to walk to work is a great benefit: no road rage & fighting w/stupid drivers.
but yeah, often times apartment gyms suck... $30 for the YMCA is pretty good.

cell phone is a blackberry with dataplan.. I use the data plan to remotely connect my laptop from anywhere.. I may even be able to get by a few months without internet access to the apartment because I can use the phone as a modem. It gets about 128k down...

 

[Blieb]

That place looks nice!!!

 

[AgaBoogaBoo]

Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

 

[tfinch2]

Originally posted by: TechBoyJK
I make $30k a year, with bennies, and have a $500 car payment

ERR: DOES NOT COMPUTE

 

[TechBoyJK]

Originally posted by: Scarpozzi
Unless you're trying for bulk, it's amazing what a few small dumbbells (40lbs and less) and calisthenics can do.

Yep, a bike/treadmill/stairclimber and some dumbbells is all i really need.

 

[AgaBoogaBoo]

Originally posted by: TechBoyJK

Originally posted by: Funyuns101
I wish that I could find a similar sized apt. for that cheap in & around DC.
but $125/month for you cellphone bill... isn't that really high??
at least your gas bill should decrease a lot... being able to walk to work is a great benefit: no road rage & fighting w/stupid drivers.
but yeah, often times apartment gyms suck... $30 for the YMCA is pretty good.

cell phone is a blackberry with dataplan.. I use the data plan to remotely connect my laptop from anywhere.. I may even be able to get by a few months without internet access to the apartment because I can use the phone as a modem. It gets about 128k down...

Legality/ethics/etc. aside, I'd check to see if there are some unsecured networks nearby first. If there are, you could possibly use those for a while.

If you can, I'd either get rid of that data plan or do something to bring the cost down if possible... maybe choose a cheaper data plan?

 

[TechBoyJK]

Originally posted by: AgaBoogaBoo
Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

It's an 04 BMW z4. My credit isn't the best, and bmw is the only dealer that would give me less than 10% interest on a car.. I got this car for 3%... It's crazy how a honda that was $10k cheaper with higher interest almost cost as much each month. It's an expensive car.. and I'm keeping it. =)

 

[TechBoyJK]

Originally posted by: AgaBoogaBoo

Originally posted by: TechBoyJK

Originally posted by: Funyuns101
I wish that I could find a similar sized apt. for that cheap in & around DC.
but $125/month for you cellphone bill... isn't that really high??
at least your gas bill should decrease a lot... being able to walk to work is a great benefit: no road rage & fighting w/stupid drivers.
but yeah, often times apartment gyms suck... $30 for the YMCA is pretty good.

cell phone is a blackberry with dataplan.. I use the data plan to remotely connect my laptop from anywhere.. I may even be able to get by a few months without internet access to the apartment because I can use the phone as a modem. It gets about 128k down...

Legality/ethics/etc. aside, I'd check to see if there are some unsecured networks nearby first. If there are, you could possibly use those for a while.

If you can, I'd either get rid of that data plan or do something to bring the cost down if possible... maybe choose a cheaper data plan?

It's the only plan they offer. And ontop of that I use the phone to ssh, remote desktop, im, email, etc.. so I kinda need it.. It's one of the things that is going to help me stay connected and in touch with my clients.

 

[AgaBoogaBoo]

Originally posted by: TechBoyJK
It's the only plan they offer. And ontop of that I use the phone to ssh, remote desktop, im, email, etc.. so I kinda need it.. It's one of the things that is going to help me stay connected and in touch with my clients.

Only one of those points holds up in my mind.

I assume the ssh, rdp, and IM are all for personal things and not out of need?

In terms of email, go over things from last week and see if it's really needed. Look at how many you need to reply to quickly, and how many you can reply to at work, during lunch, etc.

I'm not saying this to bug you, I love my phone and the data too, but at some point, you have to look at what you need. I'd get that car and credit card paid off as soon as possible...

 

[AgaBoogaBoo]

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo
Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

It's an 04 BMW z4. My credit isn't the best, and bmw is the only dealer that would give me less than 10% interest on a car.. I got this car for 3%... It's crazy how a honda that was $10k cheaper with higher interest almost cost as much each month. It's an expensive car.. and I'm keeping it. =)

That's fine, but just for discussion/argument sake, the Honda was probably a much shorter loan period.

 

[Funyuns101]

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo

Originally posted by: TechBoyJK

Originally posted by: Funyuns101
I wish that I could find a similar sized apt. for that cheap in & around DC.
but $125/month for you cellphone bill... isn't that really high??
at least your gas bill should decrease a lot... being able to walk to work is a great benefit: no road rage & fighting w/stupid drivers.
but yeah, often times apartment gyms suck... $30 for the YMCA is pretty good.

cell phone is a blackberry with dataplan.. I use the data plan to remotely connect my laptop from anywhere.. I may even be able to get by a few months without internet access to the apartment because I can use the phone as a modem. It gets about 128k down...

Legality/ethics/etc. aside, I'd check to see if there are some unsecured networks nearby first. If there are, you could possibly use those for a while.

If you can, I'd either get rid of that data plan or do something to bring the cost down if possible... maybe choose a cheaper data plan?

It's the only plan they offer. And ontop of that I use the phone to ssh, remote desktop, im, email, etc.. so I kinda need it.. It's one of the things that is going to help me stay connected and in touch with my clients.

get your work to pay for it

 

[Gothgar]

I know it has been said and it might be thread crapping, but for your old salary and your new wages (including decent commission) you are spending way to much on your car payment.

Your cell phone is high too.... I have around 1400 minutes, dataplan and two phones/lines for 80.

I agree with the "fun" in there, you gotta have fun, you only live once.

Maybe, and I know you wanna have a place on your own, but maybe you could find a room for rent for less around there or a roomate? If it is close to work and you save 200 a month on rent, I think you'd be closer to a more realistic budget, being as you cannot always rely on commission, especially with the economy the way it has been.

 

[TechBoyJK]

Originally posted by: AgaBoogaBoo

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo
Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

It's an 04 BMW z4. My credit isn't the best, and bmw is the only dealer that would give me less than 10% interest on a car.. I got this car for 3%... It's crazy how a honda that was $10k cheaper with higher interest almost cost as much each month. It's an expensive car.. and I'm keeping it. =)

That's fine, but just for discussion/argument sake, the Honda was probably a much shorter loan period.

nope.. the best I could get was like 9% minimum on a honda, and even with both being 5 year loans. the bmw was cheaper, and it was worth more..

 

[TechBoyJK]

anywho..

my reasoning for starting this thread was to ask about expenses... what are some other expenses I might have to deal with??

 

[tfinch2]

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo

Originally posted by: TechBoyJK

Originally posted by: AgaBoogaBoo
Can you bring your cell phone payment down at all? AT&T offers discounts if you get their DSL, cell phone, etc. services bundled together.

Also, as Injury said, that's an expensive car payment and a bit of money going to your fun category. Is the car payment a very short loan? If so, that's good, but if it's high because you have an expensive car, I guess that's your choice then

It's an 04 BMW z4. My credit isn't the best, and bmw is the only dealer that would give me less than 10% interest on a car.. I got this car for 3%... It's crazy how a honda that was $10k cheaper with higher interest almost cost as much each month. It's an expensive car.. and I'm keeping it. =)

That's fine, but just for discussion/argument sake, the Honda was probably a much shorter loan period.

nope.. the best I could get was like 9% minimum on a honda, and even with both being 5 year loans. the bmw was cheaper, and it was worth more..

5 years@$540 a month?!?!? :shocked: This just keeps getting worse.

You're spending about 40% of your take-home pay on your car (depreciating asset at that).