Yo /biz/, care to assist me with making a housing decision?
Currently making 3300/mo, after taxes. My rent is currently 675, but the apartments I'm in are old and pretty shitty. I'd like to move into a new place, but the place I'd like to move into is 1350/month. Is moving into a place with rent that high too high a risk, financially? I have access to 10k in credit, which I only ever use for point rewards or emergencies. So if, for example, I had a car issue or repair that was needed, I'd be able to at least cover it in the short term. I also have about 5k in savings.
What are y'all at for percentage of income spent on housing? My other financial/monthly obligations come out to about 1100 (student loans and such).
>>1255102
Tldr?
>>1255102
Yah, that should be fine. But I'd just be concerned about the lack of savings. My ratio is currently 37% after tax. It was 60% while I was living in San Francisco (which was not fine btw).
I'd just ask yourself if its really worth it. Is a nicer apartment really worth the extra $8100 a year??
Personally, I'd want that savings number at about 15+ grand before I'd consider moving.
>>1255102
I make slightly less than you, pay a couple hundred more in rent. I think you should stay where you are unless it's unbearable, but if it is try not to go too far past 900/mo. don't fall for the luxury apartment meme, I'll lose all respect for you, and you will for yourself.
>>1255102
>Currently making 3300/mo, after taxes.
>I also have about 5k in savings.
if you have been in that job for more than 3 months, fucking stay where you are.
>>1255201
My spare cash usually goes towards paying down student debt. I would have more if I wasn't paying triple my required monthly payment.
>>1255227
keep paying down the loans, don't move until you are literally being woken up by roaches and rats
>>1255237
Do mice count...?
>>1255227
Why?
>>1255241
no, gotta be rats or roaches. everyone has mice.
>>1255243
Because I'd rather decrease my debt load now. I have my 401k contributions maxed, so it's not like I don't also have at least some money being invested.
>>1255249
As long as you are investing... people often pay down low interest rate debt at the expense of high returns elsewhere.
By maxing your 401k do you mean $18000/year or just getting the maximum company match?
>>1255271
No... Fuck I should be doing that. I meant maximum company match.