Sunday, March 27, 2016
The numbers don't lie
Last month, I toured some large appartment complexes in the city North of here, where I expect to relocate. One common trend amongst 3 of them is that although the monthly rent is advertised/listed as $X, there are many non refundable fees (both one time flat as well as monthly) in addition to the rent. I have been comparing units, based on several things such as location, commute time to work, noise, condition of the complex, etc but more importantly, focusing on my bottom line. I can then more accurately compare the cost of living at an alternative location vs remaining here.
Complex # 1: rent + pet flat fee (divided over 12 months for calculation purposes) + application fee + monthly pet fee + trash and commons fee + water/sewer (an unknown so I didn't include this in my math) + covered parking and factor in elimination of chimney sweep services, trash, fire wood costs, lawn and plow services, the monthly savings over staying here is $640.33.
Complex # 2: rent + pet flat fee (divided over 12 months for calculation purposes) + application fee + monthly pet fee + trash and commons fee + water/sewer (an unknown so I didn't include this in my math) + parking and factor in the eliminated services I am paying for here, this yields $628.16.
Complex #3: rent + pet flat fee (divided over 12 months for calculation purposes) + application fee + administration fee (??!!) + monthly pet fee + trash and commons fee + water/sewer (an unknown so I didn't include this in my math) + parking, and actor in the eliminated services I am paying for here, this nets $369.16/month in savings over living here.
This past week has had me working with a local realtor, to try and get a handle on what the condo and townhouse market is, especially as I was having a hard time finding anything on line, and the city just North of here has a ton of condos. I did find a perfect situation: a private aka separate home within a condo development so still a condo. Met all of our needs; someone beat me to the punch as they say. So Friday, DD and I toured some homes and condos that the Realtor pulled to show me. We found a perfect one, and I have officially put a rental deposit down on it, filled out an application. I've alerted all of my 3 references that someone will be reaching out to them, and advised my current LL that someone will be contacting her for a reference, as I am exploring my options, but will let her (the current LL) know what I ultimately decide,once a decision is made. LL wrote back inquiring if I was planning on breaking the lease (ends in July) and I replied that I have 2 kids graduating in June, it would be sometime after that. She replied, OK, the end of July also works for her. Not sure now, if she is indicating that I could break the lease come June, or if she meant, stay until July and pay. I will cross that bridge when I get to it. I just didn't want her to be surprised by a potential LL calling her.
The math on the condo is as follows: rent. Savings over living here: $746.16. To be fair, I need to see a lease, to determine if there are any additional costs such as water/sewer. The stacking of fees (both pet and non pet related) at the aforementioned complexes really left a bad taste in my mouth, as my grandmother would have said.
Details on the properties:
complex 1: 3 bed/2 bath, 1443 sq feet built 2015
complex 2: 3 bed/2 bath, 1469 sq feet, built 2005
complex 3: 3 bed/2 bath 1313 sq feet, built 1998 (it's age was showing)
Condo: 3 bed/3 full baths plus powder room, 2304 sq feet, built 2005
I should here back on Monday, whether or not the owner of the condo is accepting my offer. The current tenants are breaking the lease early (signed it in end of Aug 2015) as they split up. Woman is moved out, guy mostly is, some personal stuff remains. LL is willing to take a June 1 tenancy, if this goes thru, we'd move smalls ourselves (taping my friend with a Suburban's shoulder) and then move after graduation, say the 3rd week in June. Clean this place and be out before July.