When is it worth getting a roommate?

[Herr Kutz]

I currently live in a 1bed/1bath place and got pretty lucky that it hits everything on my list (central AC, W/D in unit, dishwasher, range) for a somewhat reasonable price and without being a total dump. This combo is *very* difficult to find in the area for $1k per month. My brother is moving back to the area so I have a chance to get a roommate and find a 2bed/1-2bath place. Savings would probably be in the $200 a month range in rent alone, maybe more depending on whether or not the landlord tries to raise rent on my current apartment this summer. The 2bed/1-2bath market is also much better so the interior and appliances would probably be a bit better (my dishwasher sucks). I currently live in a near perfect location but could probably find 2bed/1-2bath place really close by. The only problem is that I've gotten used to living on my own and the freedom is great. There really is something to be said for not having to close the bathroom door, walk around naked, no noise after going to bed, etc.


edit: update post 65

 

[zerocool84]

Unless saving $200/month is going to make or break you, I would tough it out and live alone. It's so much better not having roommates unless you can't afford it of course.

 

[Riverhound777]

Only you can make that call. I've gone back and forth, had my own place for 4 years, then moved in with a GF for two, then bought my own two bedroom place that I've rented a room out in for 2.5 years. If I didn't need a roommate to afford my mortgage I wouldn't have one. But my roommate is out of town for weeks at a time, so it's kind of nice. Plus the Tax benefits are huge. Of course if you are renting that doesn't factor in.

 

[pcgeek11]

Only you can make that call. I've gone back and forth, had my own place for 4 years, then moved in with a GF for two, then bought my own two bedroom place that I've rented a room out in for 2.5 years. If I didn't need a roommate to afford my mortgage I wouldn't have one. But my roommate is out of town for weeks at a time, so it's kind of nice. Plus the Tax benefits are huge. Of course if you are renting that doesn't factor in.

I would Never Ever buy something that I couldn't afford on my own. I also detest having a room mate.

 

[Herr Kutz]

Unless saving $200/month is going to make or break you, I would tough it out and live alone. It's so much better not having roommates unless you can't afford it of course.

Yeah, I have no problems affording it. It's just a matter of saving more money.

 

[Herr Kutz]

Also lived in an apartment with my brother through a few years of college and with other roommates for the remainder of college and several years after that. First became completely roommate free last June.

 

[RockinZ28]

Going to be completely subjective. Personally enjoy my own space, so unless I flat out couldn't afford a decent place alone, I wouldn't consider a roommate. And that's the only time I ever have had one. I don't even like sharing walls. Others it's not even much of a thought sharing housing.

 

[Mai72]

Unless saving $200/month is going to make or break you, I would tough it out and live alone. It's so much better not having roommates unless you can't afford it of course.

Exactly.

I would list the pros and cons of living alone to living with a roommate. I've done both in my life and both have pros and cons. If you get a cool roommate than it could go smoothly, but you could still get on each other's nerves. Especially if the apartment is small.

I would suck it up and go at it alone. That's just me though. To the OP, could you find additional income to offset the $200-250 you'd save a month if you had a roommate? You could easily make that on Craigslist or eBay. Just a thought.

 

[Carson Dyle]

It's worth it when the difference is worth it to you. Your call. But like you said, there can be other perks beside just saving some money, like having a larger place. Maybe even a house with a yard, a garden, a garage. I've known quite a few people who buy their first (or their second or third) house with the plan of having roommates and making the mortgage much more affordable to them. I once lived with a guy who rented to four roommates so he could buy a house when he was 22.

Having your brother as a roommate probably has its pros and cons. On the pro side, you're familiar with him, his personality, his lifestyle. Fewer surprises is always good when you have a roommate.

 

[IronWing]

When it comes down to selling your spleen or taking a roommate, consider a roommate. Until then, Old Roy is cheap eats.

 

[Carson Dyle]

Yeah, I have no problems affording it. It's just a matter of saving more money.

You'll also save on utilities. Total gas, water and electric will go up, but will be cheaper when split two ways. The same TV and/or Internet service will cost you half. That could easily be another $100 or more saved each month. $3600 a year after taxes could come in handy.

 

[lxskllr]

When the alternative is homelessness, and that would still require some reflection. I wouldn't want a roommate under any circumstances.

 

[MrSquished]

I live with roommates. It's not bad because both are cool and our apartment is large, but I am too old for roommates. Looking to buy a 2BR Condo and get a roommate for only 1-2 years, depending upon if this dating thing turns into a girlfriend. Depending on which condo I buy I could get 800+ per month in rent, plus splitting the bills. We'll see. It's just a numbers game but living alone is usually preferable. Some people if they suffer from depression and loneliness might be better off with a good roommate.

 

[Red Squirrel]

Depends if you like being alone or not. Personally I'd hate having a roommate as I like my house to myself, but for someone that's more of an extrovert it might actually be nice to always have someone around if you find someone that you can basically become friends with and share similar hobbies.

Just keep in mind that if you do it, it's kinda hard to reverse. You can't really just decide "ok I don't want a roommate anymore, you're out". I mean, you can, but it's kind of an ass move. So consider it as something fairly permanent.

 

[Herr Kutz]

You'll also save on utilities. Total gas, water and electric will go up, but will be cheaper when split two ways. The same TV and/or Internet service will cost you half. That could easily be another $100 or more saved each month. $3600 a year after taxes could come in handy.

Yes I believe their may be a bit of savings on utilities. However, I only pay for the internets right now and a roomie would likely want cable TV too so I figured that would be a wash. I'm already splitting h20 two ways right now (my half is ~$30-40/month) too so I'm assuming that would also be a wash, but a lot of places actually include h20 so there could definitely be savings there. I'd estimate maybe $20-40 in savings per month for gas & electricity.

 

[Riverhound777]

I would Never Ever buy something that I couldn't afford on my own. I also detest having a room mate.

That probably makes sense for most people, but not all. Where I live, if I were to go by that rule and buy a place on my own with my mortgage costs equal to what I pay now after my roommates rent, I could live in a mobile home park, yay. Or... I have a roommate and live in a nicely remodeled two bedroom, two bath condo. Hmmm

Also, I have extra room down the road when I get married, and better income potential if I buy another house and rent this one out. Is it a risk? Yes, but worth it to me. And I misspoke, I could technically afford it on my own, but it would be tight. And it's getting easier as my income rises.

 

[Sonikku]

I also detest having a room mate.

But you seem like you have such a warm and compassionate personality to be around.

 

[pcgeek11]

But you seem like you have such a warm and compassionate personality to be around.

I do actually.

Why do you feel the need to be an asshole?

 

[zinfamous]

Best Summer Ever!

When are we going to see the hit rom-com about you and your brother sharing an apartment, starring Owen Wilson, Vince Vaughn, and their complicated triangular love interest, the quirky Aubrey Plaza in her breakout mainstream role?

 

[zCypher]

It is one of those YMMV things. For me, I would rather pay that or more to have my own place. I moved into a townhouse recently, and I have spare rooms that I haven't set up yet, and I'd still prefer spending more money and setting those up to suit me rather than getting roommates to save that extra money. I would prefer to cut back in other areas to save more money if I feel the need. I know I can count on myself. A good tenant that is as reliable as myself can be hard to come by.

 

[pcgeek11]

It is one of those YMMV things. For me, I would rather pay that or more to have my own place. I moved into a townhouse recently, and I have spare rooms that I haven't set up yet, and I'd still prefer spending more money and setting those up to suit me rather than getting roommates to save that extra money. I would prefer to cut back in other areas to save more money if I feel the need. I know I can count on myself. A good tenant that is as reliable as myself can be hard to come by.

And they are always going to have that one thing that just pisses you off.

 

[louis redfoot]

$200 doesn't seem like that much. if it's a good friend perhaps living would be more fun anyway, if it's some random roomie off craigslist i'd skip it.

all 3 of my bedrooms are currently vacant (i converted my dining room into a den so the first floor of my house is essentially a loft). i could easy take in 3-4 roomies, just never bothered. don't need the money... but i would do it if some good friends who needed housing came along. been a maverick the past few years and it does get a little quiet sometimes.

 

[MrSquished]

$200 doesn't seem like that much. if it's a good friend perhaps living would be more fun anyway, if it's some random roomie off craigslist i'd skip it.

all 3 of my bedrooms are currently vacant (i converted my dining room into a den so the first floor of my house is essentially a loft). i could easy take in 3-4 roomies, just never bothered. don't need the money... but i would do it if some good friends who needed housing came along. been a maverick the past few years and it does get a little quiet sometimes.

200 is not a lot of money and so makes it not worth it. no way I'd take a roommate to save a couple hundred clams.

between the rent and the splitting of the bills, i can be clearing 1000 a month in bonus money in a 2BR condo where I'm shopping to buy. A condo which costs from 300-350K with taxes around 5K and a monthly fee from 300-500 per month.

Depending upon which neighborhood of my city you live in you can rent a room for 600 to 1500 and even more. a month. so the numbers get big fast.

 

[Exterous]

I do actually.

Why do you feel the need to be an asshole?

Really showing that touchy feely side of yourself there

 

[JEDI]

Only you can make that call. I've gone back and forth, had my own place for 4 years, then moved in with a GF for two, then bought my own two bedroom place that I've rented a room out in for 2.5 years. If I didn't need a roommate to afford my mortgage I wouldn't have one. But my roommate is out of town for weeks at a time, so it's kind of nice. Plus the Tax benefits are huge. Of course if you are renting that doesn't factor in.

tax benefits?
reporting the roommate income nets you MORE $ than not reporting it?