(Closed) What would you do…apartment rental dilema

posted 5 years ago in Home
  • poll: What would you do? Live cheaply or comfortably?

    Rent the cheap place, the year of sacrifice will be worth it in the long run

    Rent the nicer place, you can afford it and it won't make your timeline longer

    obligatory 'other' option

  • Post # 2
    Member
    1001 posts
    Bumble bee
    • Wedding: March 2015

    Isn’t there something in between, like a respectable one-bedroom apartment that may not have the nicest finishes, but is still a step up from student-level?

    Post # 3
    Member
    419 posts
    Helper bee
    • Wedding: May 2012

    View original reply
    MsGinkgo:  As someone who lives in a downtown condo in Toronto I sympathize…the cost of rent is crazy here! We have decided on raising a family here and don’t get me started on child care costs!

    Personally, if it’s in your means I’d splurge for a nicer place. Depending on where you’re moving I’d factor in how much time you actually spend home. For example in TO where winters can be brutal we spend a lot of time at home so it’s important to like spending time in your home. If you’re moving somwhere warmer or you know you’ll spend a significant amount of time outdoors or out in general I might sacrifice on the rental a bit more. 

    Post # 4
    Member
    3281 posts
    Sugar bee
    • Wedding: January 2014

    Lol, well, DH and I live in a 332 sq ft apartment so that we can save more for retirement and our future down payment. But we’re frugal and I hate throwing away money on rent. I feel like only you can decide what your priorities are!

    Post # 7
    Member
    74 posts
    Worker bee

    I would live in the cheaper place and pay the debt off – my Fiance I’m sure would want to live in the nicer place and not save as much.  Depends on what your priorities are

    Post # 9
    Member
    2170 posts
    Buzzing bee

    I would keep looking. I couldn’t stand to be around students, be worried about noise, constant moving in & out, never know what neighbors you will have, etc. Granted it always easier looking when you are there. 

    We went through something similar when we moved a couple years ago. We ended up simply getting what we could afford & get approved for in the time limit we had. We also ended up with an hour+ drive to work. Now we live 2 min away. 

    You will find something perfect, just keep looking!!! Good luck, bee!

    Post # 10
    Member
    2696 posts
    Sugar bee
    • Wedding: January 2015

    View original reply
    MsGinkgo:  I would (and have) rent the cheaper place. Save the money for your own house instead of throwing it away on rent especially because you’re so close to buying. 18 months will fly by!

    Post # 11
    Member
    47449 posts
    Honey Beekeeper
    • Wedding: November 1999

    Don’t forget to look at sublets or long term executive rentals. Many times you can find a better place for less money.

    Post # 12
    Member
    2116 posts
    Buzzing bee

    I would rent the cheaper place. Ramp those savings up and give yourself the best start possible.

    Post # 13
    Member
    9160 posts
    Buzzing Beekeeper

    If it is going to be 18 months either way I would just suck it up for 18 months rather than potentially pay double the rent! Think of it as an investment in your future. Short term pain for long term gain. Having a bigger deposit, paying off debt or having a savings cushion is a better investment in you than paying off someone else’s expensive mortgage!

    Post # 14
    Member
    613 posts
    Busy bee
    • Wedding: May 2015

    I go for the cheaper place if you can’t find an in between option it’s only 18 months and will have a big impact on your future 

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