CWood21 Posted August 8, 2018 Share Posted August 8, 2018 2 minutes ago, ramssuperbowl99 said: I'd look at it the other way around. What's the least you could spend on an apartment that meets your needs? And what would the financial impact be of each step up from there? I'm the same way. I guess it depends on what your preference is. Personally, I think it's crazy to spend a big amount of money on a rental apartment. Link to comment Share on other sites More sharing options...
UKTexans Posted August 8, 2018 Share Posted August 8, 2018 Pink gin... Who knew 1 Link to comment Share on other sites More sharing options...
Heimdallr Posted August 8, 2018 Share Posted August 8, 2018 The problem with biking to a brewery is that then you need to bike home with a stomach full of beer, but if you aren't going to a brewery, what is the motivation to keep going when it is a steamy 88 degrees? These are the dilemnas of a single man. 2 Link to comment Share on other sites More sharing options...
Heimdallr Posted August 8, 2018 Share Posted August 8, 2018 3 hours ago, CWood21 said: I'm the same way. I guess it depends on what your preference is. Personally, I think it's crazy to spend a big amount of money on a rental apartment. If there is anything in life worth spending big money on, it is your living quarters. 4 Link to comment Share on other sites More sharing options...
joynhappiness Posted August 9, 2018 Share Posted August 9, 2018 (edited) I am thinking about the weather in Asian countries. Edited August 9, 2018 by joynhappiness Link to comment Share on other sites More sharing options...
CWood21 Posted August 9, 2018 Share Posted August 9, 2018 2 hours ago, Heimdallr said: If there is anything in life worth spending big money on, it is your living quarters. I think we were referring to renting, not owning. Owning is a bit different. Link to comment Share on other sites More sharing options...
Heimdallr Posted August 9, 2018 Share Posted August 9, 2018 42 minutes ago, CWood21 said: I think we were referring to renting, not owning. Owning is a bit different. Regardless. Link to comment Share on other sites More sharing options...
MrDrew Posted August 9, 2018 Share Posted August 9, 2018 3 hours ago, UKTexans said: Pink gin... Who knew What kind? Link to comment Share on other sites More sharing options...
CWood21 Posted August 9, 2018 Share Posted August 9, 2018 10 minutes ago, Heimdallr said: Regardless. I mean, we're talking about an asset with no return on investment with regards to renting. At least with a house that you buy, you can sell it for a return. I mean, I'm not saying you should go bargain bin shopping, but I wouldn't spend a ton of my income. Right now, I think I'm spending about 15% of my income on my rental place. Could I spend more? Sure, but there's no reason to. Link to comment Share on other sites More sharing options...
Heimdallr Posted August 9, 2018 Share Posted August 9, 2018 25 minutes ago, CWood21 said: I mean, we're talking about an asset with no return on investment with regards to renting. At least with a house that you buy, you can sell it for a return. I mean, I'm not saying you should go bargain bin shopping, but I wouldn't spend a ton of my income. Right now, I think I'm spending about 15% of my income on my rental place. Could I spend more? Sure, but there's no reason to. Sure, and everyone has different priorities and preferences, but for me, housing is like food. You can survive just fine on cheap stuff, but I would much rather spend the money for the good stuff. It is an investment in happiness and quality of life, not a fiscal decision. Nothing wrong with either viewpoint, that is just mine 3 Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted August 9, 2018 Share Posted August 9, 2018 2 hours ago, Heimdallr said: Sure, and everyone has different priorities and preferences, but for me, housing is like food. You can survive just fine on cheap stuff, but I would much rather spend the money for the good stuff. It is an investment in happiness and quality of life, not a fiscal decision. Nothing wrong with either viewpoint, that is just mine Solid points. I tend to think you should spend enough to make yourself comfortable/happy but without blowing your budget. Obviously everyone will have to make some concessions and be prudent, but you only live once, enjoy it a bit. 1 Link to comment Share on other sites More sharing options...
UKTexans Posted August 9, 2018 Share Posted August 9, 2018 6 hours ago, MrDrew said: What kind? Gordon's Link to comment Share on other sites More sharing options...
UKTexans Posted August 9, 2018 Share Posted August 9, 2018 9 hours ago, Heimdallr said: If there is anything in life worth spending big money on, it is your living quarters. And toilet paper, the one thing as a student I wasn't willing to compromise on. Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted August 9, 2018 Share Posted August 9, 2018 9 hours ago, Heimdallr said: Sure, and everyone has different priorities and preferences, but for me, housing is like food. You can survive just fine on cheap stuff, but I would much rather spend the money for the good stuff. It is an investment in happiness and quality of life, not a fiscal decision. Nothing wrong with either viewpoint, that is just mine Neither @CWood21 nor myself ever said to buy cheap or not make that investment in a nice place to live. The question posed was "what is the maximum rule I should rent?" All we said was to start with apartments that meet your needs, and evaluate what the benefit to your life the extras are, and decide if it's worth it to you. Is it worth $100/month to cut your commute in half? I'd say so. What about $500/month? $1000/month? How much is that nicer kitchen worth to you? That is a wholly different approach than saying, "okay, I make $X/month and 30% of that is $Y/month, so I'm only going to look at places that absolutely tap out my budget". It might come with an amazing kitchen or be in the hip part of town, but that doesn't matter if you don't cook or you're a person who's not into nightlife. You spend money on an apartment or a house or whatever, so it is a fiscal decision. That's just what the word means. And, like any fiscal decision, that means you should be mindful of what you're buying and if it's worth it to you. Link to comment Share on other sites More sharing options...
skywindO2 Posted August 9, 2018 Share Posted August 9, 2018 (edited) For reference, I'm paying absurdly cheap rent at a friend's house but I recently came to the conclusion that I want to live closer to work. My current commute is over 2 hours per day and has very little flexibility. I want to live somewhere where it'll be easier to meet people, date, and do whatever the hell people my age do. Those things just aren't possible in my outer ring suburb. I guess I didn't look into buying a condo, I'm sure that's a possibility but the downpayment is still a problem unless I go the FHA+PMI route. But even then, after taxes/insurance/HOA you're paying way more than any comparable apartment monthly. Edited August 9, 2018 by skywindO2 Link to comment Share on other sites More sharing options...
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