Tag Archives: mortage

Moving On… Out?

Sure, there have been moments where I wanted to pull my hair out living with my current roommates, and I’ve been guilty of causing these moments in return, but the past 2.5 years living in this apartment have been some of the most stable in my life. This has been the apartment of my mid 20s, and now it’s time to figure out the housing situation of my late 20s.

My current apartment — a room in a 3br, 2ba in a nice condo complex in the Bay Area burbs (next to houses that cost $1.5M+) cost me $632.50 a month. The room is small, but big enough for a full size bed, and has a wide widow overlooking greenery, blocking the parking area from view. It has large sliding mirror doors on the closet, which makes it seem more spacious, and much better than the room I first lived in when I moved to the Bay Area (in Burlingame) that cost $450 a month but really felt like a closet.

The rest of the apartment is nice. It has a balcony that I rarely use, a large living room / dining room space, full kitchen, the full bathroom that I share with one other girl, and another full master bedroom with its own private bathroom. The cost breakdown between myself and my roommates has never seemed totally fair… the private bedroom with walk in closet and private bath is $770 a month, where the much smaller bedrooms are $632 each. But I’d prefer to have access to a bath (not shower only) and like the window in my room, so never bothered to complain. The complex is nice, has its own small park-like area, and a pool that I’ve used probably 6 times total since I moved in (but enjoyed greatly on the rare really really hot days of summer.) And the location is pretty good too. It’s about 25 minutes to work, 30-45 minutes to the city sans traffic by car, 10 minutes to my boyfriends house, 5-10 minutes to the supermarket. I’m right by a freeway exit (off the better freeway in the Peninsula.) Oh, and there’s a washer and dryer in the unit!!!

So why move? Well, maybe I won’t. But whether or not I move, there are some major changes coming, because both of my roommates are moving out. One is moving out for her school program, she’s relocating to Southern California. The other is moving in with her girlfriend and closer to work. That leaves me with one 3br, 2ba apartment and no roommates.

While my landlord may choose to increase the price of the apartment when my roommates move out, they may not if I can find immediate replacements. And there are only a few reasons why I’d want to leave…

1) Finding two new roommates is going to be very difficult, and I’ve had so many bad roommate experiences before, that maybe I want to live alone right now

2) The location is ok, but it’s really inconvenient for biking anywhere as it’s up a giant hill. I’d like to live somewhere that makes it possible to bike to work, and use my car less.

3) Maybe now is the opportunity to move to the city. I’ve always wanted to live in San Francisco, and it makes a lot more sense to do it in my 20s/ early 30s, versus when I am ready to have kids and settle down. That said, it would be kind of dumb to move to the city right now, as it would increase my commute time. There are rooms in the city for the same price I’m paying now, or even less, but the apartments wouldn’t be as nice as the one I live in, and they’d also probably not be in the areas I’d want to live in the city (if I’m going to keep my cost the same)

4) Should I find a place that’s cheaper? 632.50 is not bad for a room where I live, but I could feasibly find a place that’s $500. It may not have its own laundry in the apartment, it may require a longer commute, but I could save more money (or have more money to spend on things I need like a car, mental healthcare, etc.)

So… I’m not sure what to do. I’m scouring Craigslist on a daily basis but it’s too early to look. My roommates and I have decided that our move-out date will likely be July 1, which means I can’t really start looking until Mid-to-late May. So that’s three months of driving myself nuts over this.

It could be a great opportunity to be in control of finding my new roommates for this place… but, to be honest, I’m just tired of having roommates. I want something more private, a place I can be a recluse in when I don’t need to be around people. Where I can watch American Idol in peace. But that dream is expensive. When I lived alone previously my rent skyrocketed from $905 a month to $1300 a month in just two years. I feel much wiser paying $600 a month vs $1300! Then again, if I was paying $1300 a month or more it would be an easier decision to BUY a place vs renting. Right now I think I’m doing pretty good renting. I’m able to put a good chunk of change into my investment accounts.

Is it better to own a studio apartment and put all my savings each month into that, or just put all that money into my investment accounts? Plus… with my mental instability (the joys of bipolar II) I think I need the freedom of not being locked into anything (like a mortgage OR expensive rent payments.) I guess I will just have to wait until May/June to figure this out. I’m so tempted to move to the city, but that’s probably an awful idea. What do you think?