Apartment Choice: Do you pay for location and amenities?
Yesterday, I wrote about how far $3,000 takes you in Dallas, Texas in My $3,000 Budget. I got some great feedback from Michelle at Making Sense of Cents, Joe at Retire by Forty, Daisy from Add-Vodka, and Erica from NewlyWeds on A Budget. Beach & The Budget and Military Income Millionaire have also joined my great support group. Thanks guys! A lot of the comments revolved around my transportation and cable/internet costs. We have really good insurance and it is expensive to insure two 22 year olds. I am, also, hoping to have lower gas expenses. I am going to be working close to work, and my hubby will be the one doing most of the driving. As far as cable/internet options, I am hoping it is lower! This is just an estimate. I am going to be getting rid of HULU PLUS. It’s not worth it. I got it primarily because my grandparents visited me for a week, and HULU PLUS has an awesome Spanish video collection. Way better than Netflix’s collection. I keep Netflix because my little brother uses it.
I was inspired by Joe’s Retire by Forty’s “Prioritize Your Spending” post. Rent is one of our biggest expenses in our budget (28-29%). I have been looking at apartments within a 5 to 10 minute driving distance from my work, ranging from $700 to $900. You can see below the breakdown of our budget based on the cost of rent.
All the apartments are within 5 to 15 minutes driving distance of work depending on traffic. The farther away, the cheaper it is. Makes sense right?
We are going to be renting an apartment on the high end of this range. Here are the reasons why:
- It is within walking distance of dozens of shops, restaurants, and a movie theatre.
- It is 4 minutes away from my office.
- The community is full of young professionals and couples.
- It has that city life in a suburb without the downtown price of an apartment.
- The community has fitness classes everyday including pilates, yoga, cross fit, kickboxing! All classes I enjoy. Plus, all I have to do is walk downstairs and go to the class. No need to drive to a gym!
- We already lived in a super cheap, small apartment with no cable. We want a little more.
All the apartments had similar layouts and square footage (698 sq. feet).
We could easily give up location and amenities for an extra $200 in the budget. But we will be living below our means already, and want to splurge a little on our apartment.
Would you pay a little more for location and amenities? How much more?