Tag Archives: housing

Should I Buy a Condo?

Most jobs in my industry are an hour north of where I live (more than that in traffic) and I’m growing weary from the commute. We’re paying $2500 a month in rent currently for our 800 square foot one bedroom and I’m starting to think renting is no longer cost effective for us. Granted, we won’t be able to afford a 1 bedroom quite a nice as the one we are renting – BUT – we could buy a 1 bedroom condo closer to the city and then at least we’d lock in our monthly rates so we can actually afford to stay here.

My crazy thought is buying a 1 bedroom 1 ba condo. I wouldn’t have considered this before, but it’s the only way we can own property for <$600k. My goal would be to get the monthly mortgage under $2000 so with standard $500 HOA, we’d be paying the same (or even less next year) than what we are paying to rent. Continue reading

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Can We Afford Life on a dual-income, one Teacher’s Salary?

My husband is adamant that until I get my ADHD mess in order, we should not discuss the future. He has a point. I am good at planning for years down the line, but in terms of “today,” my life is a mess. I still cannot get myself to work on time and despite some progress in the cleaning up department – my laundry never manages to make it from the drier to my closet. It’s completely fair for him to state that until I can stick to a basic routine, we should not discuss the future.

I know if I can just keep the house clean (well get it clean and then keep it clean) and leave the house in the morning to get to work on time, he will, eventually, be willing to plan life with me. I am trying to get rid of things and simplify as much as possible so that there is just less stuff to create messes. It definitely helps. Continue reading

Put in Our Application – The Waiting Game Begins

Wouldn’t it be nice if spending $400 per month more than I wanted to on an apartment would guarantee that the place would be ours? Yes, our 700-square-foot one bedroom, should we secure the affinity of our potential landlord, will be $2200 per month. Not even the commitment to pay that much for a relatively small (and outdated) place gets us immediate confirmation.

At least we have good credit scores. I ran mine again (*expletive* Experian for being the most scammy spammy company around) and I’m  at 738. My boyfriend has a crazy good credit score over 760. I messed mine up with one or two late credit card payments in the past, but this was very clearly me forgetting the date to pay and not long-term collections type issues. However, the landlord seemed a little nervous when I told her I was changing jobs and going to work for a “startup.” I quickly responded “don’t worry, they’ve raised a lot of money. And we have enough in the bank to pay for a year of rent even if for some reason we ever did lose our jobs. Come on, how could you turn us down? Continue reading

Just Pick a Place Already You Two!

My boyfriend and I are terrible – terrible – at making decisions. He’s so terrible at making decisions at 31 he has never left his house and after eight years of dating we’ve never moved in together. I’m slightly less terrible at making decisions, but I am not anywhere near good at making them either.

So finding an apartment is an extremely difficult #firstworldproblems challenge. We’ve seen over 40 apartments and every one is not up to my standard of living, especially for the price they charge! I always thought if I decided to move to San Francisco I’d be ok with paying an exorbitant amount for rent, but it feels wrong to pay so much to live in the burbs. I don’t care how great the town is.

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Moving in With the Boyfriend: Part 932592

Today, I decided to stop being quite so stingy. I agreed to split rent with my boyfriend based on our income. If we spend 13% of our current income, he would pay around $850 and I would pay up to $1350. That means our maximum monthly rent is $2200, not $1700 like I was originally aiming for when I wanted to do a 50/50 split. That also makes this search process slightly less painful.

I’d still prefer to spend less than $1200 a month in rent, and I’m ok with paying that much while he covers $850. It’s fair given our different income levels and either I need to be ok with paying more for our lives and deal or I need to seriously consider getting a new boyfriend. As I love him and want to marry him, I’m going with the first option. Continue reading

Is Buying a House a Good Investment?

There are many schools of thought in terms of whether buying a house should be considered an investment. I’m not sure. What I do know is that it’s expensive to rent a decent apartment and it’s unlikely I’ll splurge on on a nicer apartment when I know I’m throwing rental money “down the drain,” so to speak. My quality of life, therefore, would undoubtedly be better if I were to buy. That doesn’t mean such a choice would make sense as an investment, however.

The Motley Fools poses “Your Home Isn’t a Good Investment and Won’t Make You Rich.” Real Estate has generally appreciated 4% to 5% a year on average, compared to 9.1% for an S&P index fund and 7.16% for the “safe” 30-year Treasury. Then mortgages make your house cost more than it’s worth (and you’re throwing THAT money away too. “There are good investments in real estate, but your home isn’t one of them” the post argues. A rental property, where tenants pay rent that covers the mortgage, can earn 9.8% vs just 3.4% for a lived-in property. A commenter notes that rental property can end up with an even higher return, especially once the mortgage is payed down and all that’s left is rental income that has increased over the years. Continue reading

How Much Should I Really Pay for Rent?

After apartment shopping for a while now, I’ve come to terms with the reality that $1700/month is not going to get us a “nice” one bedroom. It WILL get us a one bedroom that has crappy reviews and doesn’t make one feel calm after returning home from a long day of work. And a long commute with a lot of traffic.

The thing is, I CAN afford higher rent. My boyfriend’s maximum is $850 so it’s up to me if I want to split 50/50 or chip in more for a place that will make me happy. My bf has lived in a shed sans running water and a kitchen for the entirety of his adult life to date, so he doesn’t exactly have high standards. The fact he’s willing to pay up to $850 actually surprises me, it turns out he does have some standards. However, he’s made it clear that he will not pay for cable and he won’t offer a penny over $850, with a preference towards $800. Continue reading

Remodeling & My Parents

I grew up in a household that wasn’t financially efficient, so it shouldn’t surprise me that my parents, like many Americans, continue to throw money into their homes when the actual home value will never be worth a lot more.

They claim they are making the updates for their own quality of life, and I believe it, but the actual amount of money they are putting into my childhood home is outrageous if you look at it from a financial perspective. Continue reading

Hi, My Name is Her Every Cent Counts, and I’m a Racist

There are two types of racists in the world — the ones who blatantly hate on another race for being different, and the ones who just would prefer to be around people who are more like them. Most people are slightly racist. It doesn’t matter what color your skin is. As the musical Avenue Q puts it – “Everyone’s a Little Bit Racist Sometimes.”

Looking for an apartment, my racism comes out in full force. Neighborhoods around the Bay Area are very neatly divided along color lines. There are areas for Mexican-Americans, areas for Chinese-Americans, Indian-Americans, Japanese-Americans, Korean-Americans, Vietnamese-Americans, Cambodian-Americans, African-Americans and so on. Continue reading

Silicon Valley and San Francisco Housing Issues, About That.

As I’m wading deep in the hunt for my new Silicon Valley apartment, news of protesters – angry at rising rent prices in the city and nearby areas – smashing the windows of Google Buses – is all over my Facebook feed.  Over the past 10 years, 75,000 people have moved to San Francisco, but only 17,000 units of housing have been added. Thus, you have angry residents who are getting evicted from their supposedly affordable apartments in a few regions of SF that had yet to gentrify.

The argument by the protesters is largely to send this group of (supposedly) highly-paid elite down to the Peninsula and South Bay. What the stories are missing is that there’s not exactly a plethora of housing down here either. Well, maybe there is in the far South Bay, but the issue would just move to San Jose should suddenly all the young single tech types move down here. Continue reading