- Gold Member
- Posts: 44
- Joined: Mon Feb 11, 2013 2:01 pm
- Location: U.S.
Hey guys, its been a while, have some things to update and will do that soon, but for now I just have a few questions.
I'm currently 24, trying to get an upgrade on life. Just recently got offered a job that makes pretty good money. (Good money by my standards as I've not earned any degrees, yet and it's based on experience.) The only thing is it's about 50 miles roundtrip to and from work. Haven't started the job yet, but I'm expecting to enjoy it as I've heard nothing but good things from people who work there or have worked there in the past. So, what I'm thinking about is renting an apartment that's quite literally next to my work. The price is decent and the amenities are amazing. Not to mention I don't get very good milage on my Escape and I hate driving in general. A little less than a year ago I purchased a home for myself. Thanks to my obsessive relationship with my credit score I was able to do so on my own. The property, albeit small at only about 600 sqr. ft. is perfect for someone like me. I purchased this home knowing it would not be my forever home but rather something I could change into a rental property down the road and now, in my eyes, that time may be coming up sooner than I thought.
So, I'm looking for general advice, or comments on what you guys think I should do.
If I like the job, is it worth moving closer to say on gas and put the property up for rent?
Do any of you have advice for someone new to this sort of thing?
Here's just some information to help you guys get a better understanding of my situation.
My current home:
Is about 600 sqr. ft.
My monthly mortgage, including insurance and taxes is only about $312 a month. I've been paying about $412 a month to pay it down faster and still have enough money to put into my savings.
There is no gas.
The Electric and Water bills (including trash,) add up to less than $100 in the warmer months.
I also pay around $45 for internet each month.
The drive to my new work is about 25 miles, but due to it being in the middle of the city it takes about 45 mins.
Winter here sucks and they don't really care to clear up the roads.
The apartment I'm looking at:
Is between 500 and 800 sqr. ft. depending on a studio or 1 bedroom.
The rent is between $400 and $600 depending on the size.
> I still need to find out what utilities I'd have to pay.
Free high speed internet.
Within 500 ft. of my new job.
The have some pretty neat amenities like a pool, tennis/basketball courts, dog park, fitness center and even a 76 seated theatre.
Pet friendly with a one-time pet fee of $150. (I do have one, hairless cat.)
I've looked into basic pros and cons of renting and I don't think I want to sell my home.
So..what do you guys think?
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