It’s that time of year: time to decide if I’m moving. My complex left a note saying my rent is going up $80/month to $1600 upon renewal early next year. (After last year’s nearly $300/mo increase.)
So what do I do? Let’s think about this.
I currently live in a 1 Bedroom/1 Bath with a Study and in-unit washer/dryer at about 850 square feet. That’s a pretty good get, in my opinion. There’s also plenty of closet space: 2 walk-in closets, one hallway closet, storage space in the laundry room, kitchen pantry, bathroom linen storage, and the outdoor storage. Again: not bad! The patio overlooks the pool but is lined with trees so it’s not something I have to look at directly. I honestly can’t complain about where I live.
So when I started searching for apartments, I tried to find a place that either offered close to what I have currently for less or offered more for what I will be paying.
But it’s not all just about the apartment itself. There’s so much more to consider.
Floor Plans
This was the biggest problem I’ve noticed is that similar apartments could rarely be found. Pretty much every place I looked at would cost more than what I’m paying now.
When it came to those that came at a lower rent had some of the strangest layouts I’ve seen. A few examples include:
- Washer/Dryer connectors outside (in a room off the balcony/patio)
- Sliver of the so-called dining space shoved into a corner and sectioned off (waste of square footage)
- Cramped living room space with no consideration for anything more than a couch.
It’s also an issue of trying to figure out how to take my existing furniture to work with the new layout. A lot of the layouts include a separate space for a dining room, something I don’t use or have a need for.
Storage is also important to me. I’ve collected a lot more things over the years and need to be stored somewhere. I could put some of the stuff in a storage unit somewhere, but that would cost another fee that can negate the point of trying to find a place with lower rent.
Leasing Terms
When you look at the rate, you think it’s going to be a typical 12-month term. But when you get into the details, it’s actually a 13, 15, 16, or 18 month term. My lease renews in the middle of winter, which is a way better time for me to move. Moving in the middle of summer is terrible due to the heat. No thank you.
Amenities
I’ve been spoiled. I’ve been terrible spoiled by having an in-unit washer and dryer. And that’s something to take into consideration when looking at other places. If there isn’t a one in-unit, tacking on the price to do laundry has to be thrown in too.
And let’s not forget the convenience. There are days where I’m like “oh crap! I need to do laundry!” Having to rush down to the laundry room (and hope they’re not all in use) or driving to the laundromat can be stressful since it’s last minute. I’d like to avoid that.
The complex itself as a whole makes a difference. There are so many places that are just concrete. There’s a lack of greenery that makes the place seem soulless. I need plants and trees as it helps with relaxing my mind.
Transit
I love using public transit if it can let me avoid driving, especially if going to someplace densely populated (like downtown or the university area). Where I live now is not far of a walk to a major transit line station. It allows me to go north and south to major locations. (Just used it the other day to go see a concert!) I can’t give that up.
Which brings up a similar issue: there are so many apartments in areas lacking sidewalks. While newer apartments will have a sidewalk in front of them, they would connect to nothing, or the neighboring areas around them don’t have sidewalks at all.
But if I have to drive, my current location is next to a major highway and another thoroughfare that can take me out of town with ease when needed.
I tried finding another place that was similar, but amazingly other places with a similar set up cost a lot more than what I will be paying, again, offering less space.
Let’s talk about getting to work as well. Sure, traffic sucks and it can take me 30 minutes to travel the short 7.5 miles to get to/from work, but when I consider places further out, that travel time can increase a lot real fast. Even then, some places that are further away from work cost more than what I’ll be paying.
Neighborhood
Speaking of walking distance, that’s another advantage of where I live. A 15 minute walk will take me to a grocery store, convenience stores, pharmacies, fast food, and so much more. And again, a quick hop on a bus will take me to even more with ease. It’s amazing.
It’s also a great place to walk around as well. It allows me to get in anywhere between a 1.5 to 2.5 mile walk with ease. (3.5 miles if I’m feeling real good that day!)
Conclusion
I should consider myself lucky my rent is what it is, When you take into all the factors I’ve looked at and compare it to prices to places just on the other side of the fence and street from me, I’m still getting an incredible deal. I will look at where I can make some cuts in my budget to help make up for the increase but we’ll have to see how that goes.
What happens at the next renewal? Too early to say but considering how the market has been, I won’t be surprised I’ll be in the same exact situation again.