Comments on: First time living on our own - any advice.

By: sassy2

sassy2 — Tue, 30 Nov 1999 00:00:00 +0000

Sorry but you cannot afford that place. Your heat bill alon can run 400 a month never mind water, sewer, trash, electric, telephone, internet, cable and renter’s insurance. Plus you are responsible for maintaining the lawn and snow removal.

By: datonphillips

datonphillips — Tue, 30 Nov 1999 00:00:00 +0000

True, I agree with Sassy2. I’m guessing you still live at home, which no one really wants to do once they hit 18, but in this economy, it may be necessary. In the last two years, the average age of people moving out was 25. It used to be 22. People just can’t afford it, especially on minimum wage. I suggest saving at least $3000 or $4000 first. Keep in mind that most landlords ask for First/last months rent up front, so you’ll prob need $2000 upfront anyway.

By: mikea109

mikea109 — Tue, 30 Nov 1999 00:00:00 +0000

Sassy may be a bit pessimistic about you being able to afford this place. One thing that is common in your age group, is that things change and often time the person who is your roomy today, isn’t the same person who is your roomy in 6 months. Be prepared for that contingency.

Renting a home is a lot different than renting an apt. Most of the expenses for upkeep are yours. Summer months, if you don’t use the air conditioner, offer pretty cheap utility costs. The winters can be brutal. Keeping your thermostat at 67o vs 72o will save you $100 per month. Snow removal is necessary but costs nothing if you do it yourself, the same applies with lawn service, although lawns need to be fertilized three to four times per year. Don’t forgeet trash and garbage removal, they cost too.

Plan on spending a pretty big chunk of your money in upkeep for this barn, or reconsider an apt.

By: dawnb

dawnb — Tue, 30 Nov 1999 00:00:00 +0000

If your take home is $2000 per month you could possibly manage the rent. Your rent without utilities will come in at $7800 per year. At $24,000 take home pay, you will be left with only around 1300 a month to cover utilities, car payments, food, entertainment, house and lawn maintenance, unforeseen expenditures, etc. It would be very difficult to meet all the costs. If the $2000 per month is gross, you can’t do it at all.

By: philospher77

philospher77 — Tue, 30 Nov 1999 00:00:00 +0000

First question: Is 1000/month your gross or your take-home pay. My simple rule of thumb is that at least 30% of your gross pay is going to go to taxes, benefits, etc., so don’t count it in your budget.

Second comment: Make sure that where you rent will allow sublets. I hate to say this, but if you and your girlfriend are both on the lease, and break up, you are going to need some way of making up the missing rent when one of you moves out.

Third comment: Taking care of a house, yard, cooking, cleaning, etc. take a lot longer than you think, when it’s all your responsibility. So don’t get more house than you really need, or you will just be spending extra time taking care of space that you aren’t using.