Cutting the cord...

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ltuxl
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Cutting the cord...

Post by ltuxl »

I plan to move from my current rent free place and into an apartment sometime during the beginning of the year (February-ish). This will be my first place outside of my parents house and I was wondering if my fellow Bogleheads had any advice. I have done some research regarding utilities and if they are included, if renters insurance is provided or if I need to purchase, and the idea of surveying the neighborhood. I am not too sure on how to determine if the rent is negotiable however any and all advice is welcome.

Again this is my first time moving in somewhere outside of my parents house so even the most elementary of suggestions are warranted.

Thanks in advance!

-Tux
- Mr. Tux
Grt2bOutdoors
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Re: Cutting the cord...

Post by Grt2bOutdoors »

1) Have 6-12 months of expenses (rent,utilities,food) tucked away in an E-fund.
2) Buy renters insurance - cost is small, potential loss is much more.
3) Deadbolt lock - maintain security at your home.
4) Keep a can of RAID in the closet - those pesky bugs have a knack for showing up when a new tenant appears.
5) If you rent in a place with multiple floors (think - a high rise) take note of where the fire escape is - looking for it in smoky conditions is not ideal. Make sure the apartment has a working Carbon Monoxide/Smoke Alarm. Keep a small portable A-B-C fire extinguisher near the kitchen.
6) Be prepared to pay 1 - 2 months rent as security deposit + first months rent - do you have it? That can be a pricey outlay.
7) Good Luck!
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
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Boglenaut
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Re: Cutting the cord...

Post by Boglenaut »

Don't rent on the ground floor. They always seem to get robbed.
ann_l
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Re: Cutting the cord...

Post by ann_l »

Take pictures of the place before you move in, esp. of problem spots or things that need to be fixed. Your landlord should give you a sheet to fill out if anything is wrong with the place (well, some do). Fill this out and make a copy of it. You don't want your landlord coming after you when you move out and tell you to pay for something you didn't break.

You might need a co-signer for your lease if you don't have credit.

Renter's insurance will not be included. Utilities usually aren't.

If you're nervous, look for places with controlled entry into the building.

Google the name of your apartment building if it has one-some places have reviews from tenants online. Also google questions for prospective renters to ask. They can give you a good idea of what to look for.
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englishgirl
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Re: Cutting the cord...

Post by englishgirl »

Congratulations, Tux! That is a big step.

I second the RAID comment. And maybe learn about flea bombs. I've moved into apartments with fleas in the carpets - even places that looked clean and that had been "refreshed" since the previous tenant moved out. Renters insurance is worth it, too - it won't be included in the rent.

Accept that you will be able to hear your neighbors, and learn how to be a good neighbor yourself. For me, this means not slamming doors, not playing music/TV super loud, and preferably no screaming matches with your significant other. Constantly listening to people letting their front door slam behind them was one reason I decided on moving to a single family home.

Don't get somewhere too fancy for your first place, but equally don't go too seedy just to be cheap - you'll end up feeling insecure and not enjoying yourself as much. In a big complex, try to get an apartment in the back away from a busy road - it might cost a bit more per month, but to me it's worth it. Think about logistics of bringing groceries and other heavy items into the apartment - a 5th floor walk-up is fine, but it'll mean you don't want to buy too many groceries at once, and you'll have to pay movers and delivery people more. And your parents might not be so inclined to come and visit - right now, that probably seems like a good thing, but you'll probably want their help with some things.

You don't have to set yourself up with a ton of furniture, etc, right away. A mattress on the floor and something to sit on in the living room (if you have one) are fine starts, and you can pick things up as you go along (and as you figure out what you really want/like/will work well in the space). Also, accepting hand-me-downs from the folks and looking in thrift stores are good ways to furnish places.

As for negotiating rent, personally I've never tried it with a big complex. Private landlords seem more open to negotiation, especially if you seem like a pleasant person who will be a reliable tenant. Having said that, also check out the market - if the rental market in your area is booming, you might end up losing the place during negotiations if someone else comes along prepared to pay what is asked. If properties are languishing on the market without being rented, then you've got much more room for negotiation.
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Fallible
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Re: Cutting the cord...

Post by Fallible »

In addition to the previous good suggestions here, I'd advise reading over your lease very carefully before signing and asking questions. Good luck!
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
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ltuxl
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Re: Cutting the cord...

Post by ltuxl »

Thanks for the input everyone. Taking copious notes...
- Mr. Tux
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Epsilon Delta
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Re: Cutting the cord...

Post by Epsilon Delta »

Fallible wrote:In addition to the previous good suggestions here, I'd advise reading over your lease very carefully before signing and asking questions. Good luck!
Don't rely on the landlords oral explanation of the lease. If you don't understand the some of the documents either ask someone else or get the landlord to put the explanation in writing. Some landlords will say what is needed to get the rental, but if push comes to shove it's the written contract that counts.
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Watty
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Re: Cutting the cord...

Post by Watty »

As other people mentioned you really need to take the time to read and understand the lease and to learn your local renter's rights laws. Some of the larger complexes will have a sample lease on their web site that you can download and read and learn from before you start shopping for an apartment.

Everything is in theory negotiable so you can ask for lots of things and the worse they can say is no. In some larger complexes or managed apartments the manager may not have much authority to change the terms to do not take it personally if they are inflexible.

Be sure to try driving from the apartment to your work or school during the normal commute hours to see what the commute will be like. Don't accept a longer commute unless there is a compelling reason to.

Figure out how you will get into your apartment if(when) you lock yourself out ( been there done that!!!! ) Even if there is an onsite manager with they might be gone for the evening. Letting your parents have a spare key has lots of pros and cons so think about if you want to give them one so that if they suggest that you give them a key you will know how to answer the question.

A nice thing about renting is that even if it turns out not to be an ideal place, then you can just move when your lease is up so most of the things you might worry about are not horrendous problems if something does turn out wrong. In other works don't get overly stressed out about it and enjoy your first place.

You do not need or want to have all your furniture the first day you move in. As long as you have the basics you can take the time to determine what will work best for you. Often the furniture at thrift stores is marginal, the best place to buy used furniture is on Craig's list or auctions. If you take your time you can buy good used solid wood furniture(tables, dressers, etc) for a lot less than new partial board stuff. If you are careful in selecting the good used solid wood furniture then in a few years if you want to get rid of it, you will likely be able to sell it for what you bought it for and get your money back. Old particle board furniture has little value.

A huge change may be that you will be cooking and buying food for yourself. Get in the habit of usually cooking food and saving or freezing your leftovers. It is easy to get in the habit of not eating right or getting takeout food too often. If you don't cook well, start learning now while you have other people to help you.
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Toons
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Re: Cutting the cord...

Post by Toons »

Beans ,Rice,and Ramen :lol: :lol:
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
itslate
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Re: Cutting the cord...

Post by itslate »

some excellent suggestions thus far. a few i would stress are those about reading and understanding the lease before signing. get someone to read it over with you if you have any questions at all. another great one is about food. learn to cook if you don't know how already. ask your parents to let you help with grocery shopping and preparing meals for the time you're still there. get whomever does the cooking at home to help you write down some recipes for simple easy dishes and teach you how to make them. above the legal issues, this is a supremely important aspect of living on your own as it is an opportunity to avoid unnecessary expenses that may get in the way of your being able to afford this.

good luck and enjoy your new place!
DidItMyWay
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Re: Cutting the cord...

Post by DidItMyWay »

Good for you! It sounds like you are asking all the right questions. You've been given a lot of good advice here.
Toons wrote:Beans ,Rice,and Ramen :lol: :lol:
Yep! :) Was going to say the same as Watty. Try to resist the urge to go out to eat a lot, because it will be tempting. However, eating at home most of the time will save you $ in the long run!

You can make cheap meals with pasta, eggs, salads, soups...things like that. And there are always the other staples that you can rely on in a pinch: pb&j & grilled cheese. :)
Slow and steady wins the race.
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JupiterJones
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Re: Cutting the cord...

Post by JupiterJones »

Great advice above. Especially about getting that emergency fund built up.

If you're moving to an unfamiliar town, poke around online and see if you can dig up some sort of crime map. That'll help you avoid the sketchy areas (or target them, if that's your thing...)

A bit of advice from my own first year living on my own: If you put in a load of laundry in the washer down in the basement, and you notice that the maintenance guy has left a half-full bottle of drain cleaner sitting on the coin box, and that furthermore he has lost the cap and instead secured the bottle with a piece of saran wrap and a rubber band, I strongly recommend that you move the bottle somewhere where the vibrations from the washer won't cause it to tip over and spill into your laundry, burning fist-sized holes into nearly all the clothes you own. LFMF. :P

JJ
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ltuxl
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Re: Cutting the cord...

Post by ltuxl »

Beans ,Rice,and Ramen :lol: :lol:
lol... I should have mentioned that I have the luxury of moving in with my girlfriend who not only enjoys to cook but she is pretty good at it. Although I appreciate the advice, I will refrain from Ramen until she makes trips home :)
A bit of advice from my own first year living on my own: If you put in a load of laundry in the washer down in the basement, and you notice that the maintenance guy has left a half-full bottle of drain cleaner sitting on the coin box, and that furthermore he has lost the cap and instead secured the bottle with a piece of saran wrap and a rubber band, I strongly recommend that you move the bottle somewhere where the vibrations from the washer won't cause it to tip over and spill into your laundry, burning fist-sized holes into nearly all the clothes you own. LFMF. :P
It would be very nice to find a unit with a W/D already installed but I am hoping for at a minimum to find a place that will have the hookups so I can eventually buy my own appliances. Not a huge fan of doing laundry in a common room.
read and understand the lease
This has been mentioned a few times and I have made a spreadsheet and word doc to bring with me (check things off and list details to evaluate and compare places) when I narrow down my search to a few that I plan to visit however I neglected to put this on my list of things to do... Thanks!

Thanks again for the tips!
- Mr. Tux
investnoob
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Re: Cutting the cord...

Post by investnoob »

On the topic of leases, make sure you also know your rights as a tenant. So I guess you should be reviewing your state laws.

Where I live it is very common for landlords to place unenforceable clauses in the lease. I did not make a fuss about them. I just signed the lease knowing the landlord would never be able to enforce them. It is good to know your rights first before making a fuss over something that is not even enforceable.
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DiscoBunny1979
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Re: Cutting the cord...

Post by DiscoBunny1979 »

in my opinion, what's really important is to try and get a Month to Month lease rather than a yearly lease. The reason - if you don't like it, or situation changes, you can more easily end the lease. But if it is a yearly lease, or even a month to month, make sure you understand the terms and that the 30 day notice is a 30 day notice, not 15 days and not 29 days, but at least a month in advance.

It's really important to have a credit history before applying for a lease. Some will not rent to anyone without a history or at least one bank credit card AND a work history. Co-signing can happen, but I've found that it's easier to rent when you do it on your own based upon your own ability to pay and maintain a place. Rent sometimes is negotiable, but you have to understand the market, what the typical rent should be for the unit you're interested in, and the current market - are they desperate to rent out the unit, or is renting in demand? Supply and demand often dictates whether the price is negotiable.

If you drive, make sure the complex not only has decent parking, but that it has a space dedicated to your apartment unit.

If you're in a place that requires air conditioning in the summer, make sure the unit has adequate ventilation through the ducting - that there is duct work going into each room and if the electricity is on to experiment with the air or heat. The same for the water - test the water pressure if the water is on. Test the pressure in the kitchen as well as the shower. Use the toilet and see how it flushes! Also, make sure windows open and close. If the apartment comes with balcony, make sure you go outside and notice all the surroundings and how easy a neighbor might be able to access your unit from their balcony.

While some think that the first floor might get more thefts, I know of a few instances where bicycles left on balconies on the second or even third floors of apartment buildings have been stolen. Don't get a false sense of security because your apartment is on a higher floor.

It's easier to move if the apartment has an elevator.

Laundry is also important . . . that if it is a common space, then also having enough quarters/bills on hand might be necessary.

I would spend money on things like a new cutlery set and new cookware set for the kitchen.

I would also spend money on a cleaning service . . . you will be suprised how fast the bathroom shower will get nasty even though you might move in to an emaculate place. If you don't clean things well, apartments will keep your deposit, claiming you left things dirty and the need to clean the carpets, etc. Even if you take pictures before hand. It's really how you leave the apartment that matters. Pay on time.
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bertilak
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Re: Cutting the cord...

Post by bertilak »

DiscoBunny1979 wrote:in my opinion, what's really important is to try and get a Month to Month lease rather than a yearly lease.
I think this is an area open to some negotiation. At least it was when I had to rent on a temporary basis while waiting for my house to be built.

Longer leases have lower rates. I was able to negotiate a 6-month lease at the yearly rate. I Also made some sort of deal about the one month finders fee that agents usually get. Perhaps this is why they gave me the lower rate. I forget exactly. This was in a major complex where the on-site people are usually somewhat restricted in their flexibility.

One more hint: If you have pets be sure you understand the rules. A hamster may not be worth mentioning but a pair of Great Danes may be a problem. I think the place I rented had a 35 pound dividing line, plus some extra deposit. We ended up with a cat for the last couple of months and just snuck it in!

Remember, the maintenance people have keys and per your lease, probably have the right to enter for lots of reasons.
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kenyan
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Re: Cutting the cord...

Post by kenyan »

Make sure you know the rules for utilities. Rarely is electricity included in rent, but something like basic cable or internet can be in some places. Water/trash/sewer usually is included where I live, but some places are sneaky and don't include it (runs about $70/month for a 2 br place). In some areas, basic appliances like refrigerators or even stoves are not included.

After you move in: Be considerate to your neighbors. This is not your house, or your party pad, and common areas belong to all - don't leave your crap there, or park your car in a way to impede others. Don't make noise too early or too late.

If you can, talk to existing tenants about the management/landlord. How they handle maintenance issues is a biggie - get some details.
Retirement investing is a marathon.
MWCA
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Re: Cutting the cord...

Post by MWCA »

ltuxl wrote:I plan to move from my current rent free place and into an apartment sometime during the beginning of the year (February-ish). This will be my first place outside of my parents house and I was wondering if my fellow Bogleheads had any advice. I have done some research regarding utilities and if they are included, if renters insurance is provided or if I need to purchase, and the idea of surveying the neighborhood. I am not too sure on how to determine if the rent is negotiable however any and all advice is welcome.

Again this is my first time moving in somewhere outside of my parents house so even the most elementary of suggestions are warranted.

Thanks in advance!

-Tux
Pay your bills. Don't make to much noise. Expect to lose your deposit. If you get it a back consider that a bonus. If you have nothing to lose just skip renters insurance.
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Epsilon Delta
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Re: Cutting the cord...

Post by Epsilon Delta »

MWCA wrote: If you have nothing to lose just skip renters insurance.
One of the main reasons to get renters insurance is for liability coverage.
Without this coverage he could have his 70k per year income garnished for years due to a moments inattention.
lightheir
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Re: Cutting the cord...

Post by lightheir »

Read your lease. Seriously.

Things that are standard but you'll get totally shocked over as a new renter:

- Initial deposit (usually 1 month+)

- Being late with rent. You'll get smacked with a $100 fine in most cases by even being a day late. Watch out for this one.

- Move-out cleaning fee or painting fee, which can run into the thousands. Find out whether they do this automatically or only if you leave a mess. It'll cost you big time on the back end.

- Anticipate rent increases of 2-4%/yr (inflation). More in hot locales.
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dave66
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Re: Cutting the cord...

Post by dave66 »

Shoot for the top floor... Always better. Way too much noise with people above you. Not many people moving now and plenty of housing in most areas, so nobody should really be asking first month, last month AND and equal deposit. If they are, they're either greedy or it's a place in too high demand. Some people will drop the rent a tad from asking price... You gotta sniff them out and see if they've not had many people coming in. Some people will get ticked and blow you off for asking. Skip all the extra BS they try and up the rent on, like workout room, pool and all that... You'll never use it. Smaller buildings off the main streets are much better. More peace, better people, and less chaos. Shoot for one with a washer/dryer in the unit... That's huge. You'll thank me later. Don't even bother looking at ads... Pick your area and drive around. Don't go for the easy stuff... Look in the little back streets and hard to find spots. Those can be the best.

There's plenty of brand new buildings in most urban areas right now, so should be some decent places available.
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stemikger
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Re: Cutting the cord...

Post by stemikger »

You have been given great advice. Here is a tip from my personal experience when I was your age. Have fun, but don't be the last one to leave the party. When I moved out I went crazy the first year. I never lived outside my home like some kids did when they went to college, so I literally got drunk on freedom.

I really had a year where I was partying 24/7 and actually going to work the next day. Many days I went to work high on drugs or booze. I regret that, but the experience was something I know I loved at the time and I have some wild memories. Now I sit here a middle aged man, and I look at kids your age and just smile.

Get it out of your system, but don't let it ruin your life. You have a small window of opportunity to be young and foolish, so enjoy it, but don't kill yourself in the process.

Have fun you lucky dog!!!
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ltuxl
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Re: Cutting the cord...

Post by ltuxl »

Now I feel like I have a good handle on things now including making sure it is 'Boglehead Affordable'.

I am a huge fan of learning from other peoples experiences and not a fan of trying to reinvent the wheel... Thanks again for all of the advice. :sharebeer
- Mr. Tux
Grasshopper
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Re: Cutting the cord...

Post by Grasshopper »

Forget the bug killer, if it kills bugs it isn't healthy for you.
trico
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Re: Cutting the cord...

Post by trico »

I might suggest forego the emergency fund and use it for a down payment on a home. Prices are great right now, and you need to build some equity. I know its scarey to buy a home so you miight start with a townhome. I did this in the 80's and was never sorry. Find a good real estate agent like Remax and look around, you might be surprised what you find, and what you might be able to afford.
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kenyan
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Re: Cutting the cord...

Post by kenyan »

trico wrote:I might suggest forego the emergency fund and use it for a down payment on a home. Prices are great right now, and you need to build some equity. I know its scarey to buy a home so you miight start with a townhome. I did this in the 80's and was never sorry. Find a good real estate agent like Remax and look around, you might be surprised what you find, and what you might be able to afford.
It's one viewpoint, but I suggest the OP not jump in blindly. Prices are great in some areas, and (still) not great in others. Interest rates are great, but if/when they increase it will drag on prices. You don't need to build equity; building savings is even better than building equity. Don't buy a place unless you're pretty certain you can stay put in that place for a number of years.

Not to derail this into yet another buy vs. rent discussion, but I just wanted to provide a counterpoint to the previous post, since buying might not be a good decision in the OP's situation.
Retirement investing is a marathon.
trico
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Re: Cutting the cord...

Post by trico »

I bought my first place in the 80's, a 2-bed condo for $48,000.00 and sold it a year later for $67,000.00. Then I used that money to buy a townhome across the street for $127,000.00. Then two year later sold it for $197,000.00. Then bought a home for $120,000.00 and have lived here for 25 years and its worth $325,000.00. I never had to come up with any money except for the original $8600.00 down payment. Its all in getting a good real estate person that know whats going on in the market.
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ltuxl
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Re: Cutting the cord...

Post by ltuxl »

Its all in getting a good real estate person that know whats going on in the market.
I agree. I am looking at Condo's and Houses but I think for right now an Apartment is best for me as I plan to move from this new place in the next 3-4 years. I am not sure how much I will gain in equity - if any - in that time frame.
- Mr. Tux
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kenyan
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Re: Cutting the cord...

Post by kenyan »

trico wrote:I bought my first place in the 80's, a 2-bed condo for $48,000.00 and sold it a year later for $67,000.00. Then I used that money to buy a townhome across the street for $127,000.00. Then two year later sold it for $197,000.00. Then bought a home for $120,000.00 and have lived here for 25 years and its worth $325,000.00. I never had to come up with any money except for the original $8600.00 down payment. Its all in getting a good real estate person that know whats going on in the market.
Congratulations. It worked out well for you, as well as for most people who bought around when you bought. It's also worked out poorly or worse for most people who bought in the past 6 or so years.

Those types of rapid price increases are not occurring nowadays, nor are they likely to occur in the near future, so I am suggesting that the OP not base his decision on numbers such as those. He seems to recognize that, so I won't comment further on this.
Retirement investing is a marathon.
trico
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Re: Cutting the cord...

Post by trico »

You are correct I bought when the market was depressed in the 1980's recession, due to hi interest rates. So its the same thing as stocks. Buy low and sell high. But your pad is a place to live, and has more sentimental value than a stock has. Plus paying rent is like throwing money to a broker. Once done it's out the window.
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og15F1
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Re: Cutting the cord...

Post by og15F1 »

No matter what you do, make sure the place has a washer and dryer. Preferably full size.

Choose your location strategically. Balance the quality/appearance of the rental unit with commute to work (think counter-traffic), distance to shopping/groceries, and distance to other places of interest (gym, place of worship, etc.).

Don't choose a place just because it has a pool / workout area / clubhouse. You will not spend much time there in all likelihood.

Check out the situation with waste management. Make sure the dumpsters and mail are in reasonable locations. You may not want to trek across a huge space to dump your trash.

Get a set of tools. You will need a (smaller) hammer, a set of screw drivers, a flash light, probably a crescent wrench, some nails, some screws, some zip ties, some lighters, and a nice $50 power drill with a cord and some bits. Although you won't be doing the maintenance, starting out on your own you are likely to get some furniture or stuff that requires assembly.

When you leave for more than a couple days, remember to clean out your fridge and wash your dishes.

Get a full size ironing board and a nice iron.

Be aware that you will likely spend more than expected initially on small appliances and household items like towels. You will need this stuff so don't feel too guilty as a Boglehead parting with the money. Utilities will also become an ongoing shock.

Consider what side of the building your unit is on in relation to street traffic (cars without mufflers at 6am, drunk hooligans) and the dumpsters (garbage trucks).

Take advantage of your move to donate/dispose of old junk you don't absolutely need to take with you. Time to rip through the closet and drawers. If you haven't used it in a year, it's gone.

That should be enough for now.
redlbj01
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Re: Cutting the cord...

Post by redlbj01 »

(1) Find someplace that is cheap, but located in a safe neighborhood. Use the opportunity of cheap living to pay off any car loans/consumer debt/student loans. And if your goal is to be a home owner, live a Spartan lifestyle and hoard up cash for a home/etc.
(2) Determine how you and the gf are handling bills. Some split it done the center, some like to have separate checking accounts, but one mutual account for shared bills. This is probably the #1 you need to figure out. What worked for my gf (now DW) and I, may not work for you.
(3) Take pictures of the entire apartment before you move in. Especially the appliances and the carpet. Treat the place (even if it is a bit dumpy) like you would your own place to be treated. The owner will appreciate it, and you most likely will get your entire deposit back.
(4) Renter's Insurance a must.
(5) Cheap knockoff furniture helps. My wife and I still have the $115 table and chairs we got from a Consignment shop. The chairs just need to be re finished is all.
(6) Emergency Fund of 3-6 months is a priority.
(7) If this is the first time you and your gf are living together, expect to have disagreements. One of the best things to happen to my wife and I is that when we moved in with each other, our parents were 2,000+ miles away. It forced us to deal with each other (she feels she got the raw end of the deal, I don't understand why? :lol: ) and handle our issues like adults. Constant communication and having planning shared goals will go a long way to making this work for you.

Best of luck. Some of my favorite memories are from the first apartment my wife and I shared together. Nothing says prestigious living like wood paneling on the walls and carpet from the 70's.
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grabiner
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Re: Cutting the cord...

Post by grabiner »

trico wrote:I might suggest forego the emergency fund and use it for a down payment on a home. Prices are great right now, and you need to build some equity.
I don't recommend giving up the emergency fund, because one of the most common situations to need the emergency fund is just after buying a house; you might discover things which need repair, or need to buy something for the house.
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ltuxl
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Re: Cutting the cord...

Post by ltuxl »

I don't recommend giving up the emergency fund, because one of the most common situations to need the emergency fund is just after buying a house; you might discover things which need repair, or need to buy something for the house.
I won't be giving up the emergency fund. Unfortunately (or fortunately depending on how you look at it) I don't have a financial backup/supportive option when I move out. If I lose my job, have hospital bills pile up, or any other sort of financial burden takes place it is all on me and thus the emergency fund will be maintained.
- Mr. Tux
clearwater
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Re: Cutting the cord...

Post by clearwater »

One thing to particularly check for in a lease is the landlord penalties for late / lack of payment of rent. The worst thing I ever read was a lease for a high rise apartment building in Chevy Chase, Maryland. The lease said for lack of payment they would put a lien on all of the tenants personal belongings in the apartment! I couldn't believe it, laughed at the rep, and walked out. I later heard from a friend working in government that lots of foreign diplomats lived there on short term assignments, and apparently it was considered "normal" to skip out of town without paying rent. (I ended up at a perfectly nice corporate run apartment a few miles away, which was very nice and had a perfectly acceptable lease).

Depending on where you are, I'd recommend trending towards renting in professionally managed apartment buildings, which are generally big complexes with on site management. You will invariably get good service, generally professionals for neighbors (e.g. no 3 AM parties), and a stress free living situation. Generally you find these in places like Silicon Valley, and western states in the U.S. On the east coast you'll find lots more older buildings, generally small management staff, and sometimes a real fight in getting maintenance done.

Then again, for your first place, none of this may matter to you. I once lived over a bar, which at that time, was an awesome deal (it was cheap, actually a great location, and the owner was genuinely a really nice guy). Looking back on it, I remember never, ever getting sleep before 3 AM when the place below closed and they kicked everyone out.

I second trying to get a washer/dryer in the building. Hauling your clothes to a laundromat gets old quick. If you can get your own washer/dryer in unit (often typical in the big complexes) that's ideal. It may cost extra -- pay it -- it will be cheap and not much more than pumping quarters into the rental machines.

If a complex has a pool, unless you're a swimmer you'll probably never use it. Don't rent a place based on that. Same for fancy things like tennis courts. I once had a place with a great view that I enjoyed every day and that was actually worth it.

Lastly, make sure you can get to daily needs without too much hassle. I lived in places in the city, in the country, and various suburbs. The most convenient ones were in the middle of the city where I could walk out the door and get lunch. Don't underestimate how useful that can be especially if you can get rid of owning a car by living close in to what you need.

The most important thing when renting is to keep your options open and "stay mobile". Get as short term a lease as you can, so if a better job comes along in another city, you can be out without financial penalty. Own as little as you can. If you need to move, SELL YOUR FURNITURE. I can't say that enough. If you can move with a few duffel bags, your life will be much, much, much easier. [I say this as someone who has moved dozens of times and learned this lesson more and more each time. Own less. Really.] You'll be amazed how easy it is to get to a new city and just buy what you need, with the money you saved by *not moving your old junk*. The math is very clear on this... paying movers, or dealing with a big U-Haul truck simply doesn't pay financially. Get where you're going and buy what you need. Before leaving, sell it. Live lightly.
caklim00
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Re: Cutting the cord...

Post by caklim00 »

redlbj01 wrote:(2) Determine how you and the gf are handling bills. Some split it done the center, some like to have separate checking accounts, but one mutual account for shared bills. This is probably the #1 you need to figure out. What worked for my gf (now DW) and I, may not work for you.
(7) If this is the first time you and your gf are living together, expect to have disagreements. One of the best things to happen to my wife and I is that when we moved in with each other, our parents were 2,000+ miles away. It forced us to deal with each other (she feels she got the raw end of the deal, I don't understand why? :lol: ) and handle our issues like adults. Constant communication and having planning shared goals will go a long way to making this work for you.
Yikes, I read through most of this thread and it reads like a manual in cheap living (which is good), but I only saw one other post (which I'm quoting) that brought up the gf. Your original post did not mention her, yet this is probably the most significant aspect of you moving. I think moving to your own place really isn't that big of a deal, BUT moving in with a significant other is a big deal. I've done the latter twice, first time it didn't work out so well and the other time well we are now married with kids.

Now I'm guessing you are thinking marriage with her, but make sure you have a plan if things go south. Cost of rent, who keeps the place (or does lease get broken - are you ok with location if its just you?). I ended up keeping a place in a location I wasn't really happy with for about 8 - 9 additional months then I moved to a location that had a bunch of young mostly single people.

Good luck, moving to your first place is an exciting time!
p14175
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Location: Now in southeast Arizona

Re: Cutting the cord...

Post by p14175 »

Find out what rights you have as a renter in your location as well as the rights of landlords.
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