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Thread: Moving into an Expensive Apartment?

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    God/dess J.D.'s Avatar
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    Default Moving into an Expensive Apartment?

    I am thinking about moving into this condo, well, I have already submitted the application and been approved, so now it's a matter of forking over 3K (deposit and first months rent) and signing the lease. The problem is, the apartment I live in now is so cheap! I pay half of what I will be paying when/if I move. However, right now i live in a town house, so it's two stories with a huge bay window and balcony downstairs, and ONE A/C unit upstairs! My electricity bill is beyond hellacious every month! It is an older building, but newly renovated interior, so I like it. When they renovated though, they should have added an extra A/C unit. Most two story properties in Texas include two units to cut back on the bill every month. My bill got past 500$ one month!

    Anyways, I was browsing on CL and came across this condo for lease. I snagged it as soon as I saw it. It is in a super posh neighborhood (right now I live across the street from the projects) it has been completely renovated and customized, and has a solarium AND backyard/terrace! I have two dogs so this is a huge plus for me! The terrace extends from the kitchen area all the way to the bedroom, so I can access it from both rooms in the home. It would be such a time saver with the dogs! Also, the whole unit is very shady, no direct sunlight beaming in (unlike where I live now) so I figure the electricity bill will be dirt cheap.

    The problem is, it's 1500$ a month. Two apartments ago, I paid about that, but that was during the stripper money making era. Although I feel business picking way back up, I am hesitant to pay this amount, even after factoring in what I will be saving in electricity, and the convenience of not having to go up and down 3 1/2 flights of stairs 4 times a day with the two dogs!

    What do you guys think? Should I go for it? This condo is on the market to sell too, so I might be able to lease to own. Also, having a higher rent motivates me to go into work.....
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    Default Re: Moving into an Expensive Apartment?

    I'd decide based off of what you're making NOW... when it's this bad.
    If you can afford it while it's still this slow... then definately go for it. If it's just something like cutting back on the rest of your expenses to be able to afford itn if you have a few bad weeks... why not?
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    Default Re: Moving into an Expensive Apartment?

    Before you decide to move into a condo and pay your rent towards somone elses mortgage/expenses I suggest you do a quick MLS (Multiple Listing Service) search for available properties in your area.

    http://www.searchdallasmls.com/

    The market is so depressed right now in so many areas, that instead of paying $1,500 in rent you might find that you could pay less and possibly own your condo. (I just did a search and found seven lisitings in Dallas for townhouses/condos with 2+BR & 2+ Baths for less than $100K.)

    My personal opinion is not to rent luxury, but to rent modestly while saving towards future ownership. Although, I understand that ownership is not for everyone.

    Best of luck!
    If you can't win. Make the fellow in front of you break the record.


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    Default Re: Moving into an Expensive Apartment?

    I'm paying that right now, and I'm pissed about it, lol. I signed the lease in a hurry, knew I could afford it, liked the place, whatever. Now that I've had tome to settle in and look around, I'm annoyed that for instance my partner is leasing a lovely 3 bedroom home with 600 more sq ft than my condo with an beautiful in ground pebble tech pool and a yard for $250 less per month than I pay, lol. It;s not that I can't afford it, it's that I could be paying less for a bigger place, or a LOT less for a less-nice apartment, and pocketing the difference/paying off debt/buying shit.

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    God/dess J.D.'s Avatar
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    Default Re: Moving into an Expensive Apartment?

    If I move here, I will be living literally one block from Turtle Creek Blvd, which is THE most expensive place to live in Dallas, so the neighborhood alone is a huge selling point. It's this little hidden condo in an older 4 plex, nestled amongst huge trees, with ivy growing up the building, and a waterfall as tall as me in the backyard! I just don't think I'm going to find a place as cool as this one. It has a see through sub zero refrigerator, brand new kitchen with a vent a hood, brand new washer and dryer, oh and a custom circular solid lime green stone bathtub that you could fit 5 people in! I will be living next to posh highrises, it's really a cool set up. I've been trying to save a buck this past year by moving to the hood, and while I don't mind it, it would be nice to live somewhere where I can walk my dogs down the street without cat calls from illegal immigrants. Right now, I literally live across the street from the projects. The way dancing has been money wise is scary. I think I'm just going to suck it up and get it. I deserve it dammit!
    Quote Originally Posted by AznExtasy View Post
    LMAO!!!!!!!!!!!!!!!!!!!!!!
    You can say that again.. not just on here but men in general. Guys are so damn lame, the only way they can halfway make up for it is by opening their wallets.

    Created by MyFitnessPal.com - Tools

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    God/dess J.D.'s Avatar
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    Default Re: Moving into an Expensive Apartment?

    Quote Originally Posted by verfolgung View Post
    Before you decide to move into a condo and pay your rent towards somone elses mortgage/expenses I suggest you do a quick MLS (Multiple Listing Service) search for available properties in your area.

    http://www.searchdallasmls.com/

    The market is so depressed right now in so many areas, that instead of paying $1,500 in rent you might find that you could pay less and possibly own your condo. (I just did a search and found seven lisitings in Dallas for townhouses/condos with 2+BR & 2+ Baths for less than $100K.)

    My personal opinion is not to rent luxury, but to rent modestly while saving towards future ownership. Although, I understand that ownership is not for everyone.

    Best of luck!
    I would like to one day buy a home, and I believe I will have the option of doing so with this property if I snag it now. Also, I'm really picky about certain amenities. I don't care what a property looks like on the outside, but it has to at least be updated on the interior.
    Quote Originally Posted by AznExtasy View Post
    LMAO!!!!!!!!!!!!!!!!!!!!!!
    You can say that again.. not just on here but men in general. Guys are so damn lame, the only way they can halfway make up for it is by opening their wallets.

    Created by MyFitnessPal.com - Tools

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    Default Re: Moving into an Expensive Apartment?

    It sounds fabulous. Post pics as soon as you move in!

    Talk to the owner right away about leasing to own. Even if you could get him to agree to putting a hundred dollars a month towards a credit on the downpayment, it would give you something to shoot for. Over the long term, ownership will likely build more wealth for you.

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    Default Re: Moving into an Expensive Apartment?

    As long as you can afford it and pay your bills I say go for it. Some of they guys may be hesitant, cause lets face it...most men could live in a cave and be perfectly happy if it had a TV and a recliner.

    I actually have past experience with the one AC set up and saved $300 or so a month once I moved! So the utility savings may bring the difference in cost down to a few hundred anyway. Plus the safety factor is huge! You're a single attractive woman, living in the hood seems risky.

    The condo sounds just fantastic to me, add the rent to own possibility and it seems like a really sweet deal!
    "I hear you calling and it's needles and pins. I wanna hurt you just to hear you screaming my name...You're poision. but I don't wanna break these chains.... I wanna love you but I'd better not touch."

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