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The question: Live poor or slightly more comfortably?

Johnny ChopsockyJohnny Chopsocky Scootaloo! We have to cook!Grillin' HaysenburgersRegistered User regular
edited October 2009 in Help / Advice Forum
I'm in a situation right now where a snap decision has been dropped right on me.

My roommate is moving into a house with his girlfriend, and since I can't afford the 2-bed apartment we've been sharing, I gotta go find a new place. Soon.

So here's the skinny: there's an apartment complex (Maples on 97th, if you're in Omaha and perhaps have helpful advice to share on the place) a couple blocks down the way. Not the best in town, but there and available. Right now, they have a special with a free month on a 13-month lease. They have a small studio (520 sq ft, 13X15 living room w/ a 9x8 kitchen) with free electric and gas. They also have a 1 bedroom (830 sq ft) with free gas, I pay electric. The one bedroom is just at my budget means, while the studio is less than my budget means.

So here's the question: would it be smarter for me to live in a larger space at my budget means or live in a small space and have the extra money to save for something nicer down the line?

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Posts

  • VisionOfClarityVisionOfClarity Registered User regular
    edited October 2009
    Will you be comfortable in a studio?

    VisionOfClarity on
  • ChanusChanus Harbinger of the Spicy Rooster Apocalypse The Flames of a Thousand Collapsed StarsRegistered User, Moderator mod
    edited October 2009
    What are we talking about saving every month if you take the less expensive space?

    Chanus on
    Allegedly a voice of reason.
  • ErandusErandus Registered User regular
    edited October 2009
    Saving money is almost never the wrong decision.

    Erandus on
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  • Johnny ChopsockyJohnny Chopsocky Scootaloo! We have to cook! Grillin' HaysenburgersRegistered User regular
    edited October 2009
    Will you be comfortable in a studio?

    Not terribly. Even down to the bare essentials (bed, computer desk, TV stand and a couch who's continued existence I'm debating), there would still be very little room to do much more than 'exist' in that studio. The kitchen, at least, is big enough to hold a table so you can eat in there, but other than that it's pretty spartan.
    Chanus wrote:
    What are we talking about saving every month if you take the less expensive space?

    At least $90 just for rent. Count additional $40-80 on electricity, depending on the season.

    Johnny Chopsocky on
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  • SanderJKSanderJK Crocodylus Pontifex Sinterklasicus Madrid, 3000 ADRegistered User regular
    edited October 2009
    How does the space compare to what you have now, and how much would you utilize it living solo? A little bit of free money is pretty great to have, but so is a place where you feel comfortable to invite people over. But if it's just a sleeping den, then I'd go with the studio.

    Also, if the larger space is bigger then what you currently own furniture wise, factor in the cost of making it comfortable. This could be sizable, especially if you only plan to live there shortterm. Also think of the decorating costs in general, and the state of the apartments. If you are only living there for 1-2 years, the costs of having to paint/floor is significant money and timewise.

    SanderJK on
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  • ChanusChanus Harbinger of the Spicy Rooster Apocalypse The Flames of a Thousand Collapsed StarsRegistered User, Moderator mod
    edited October 2009
    Chanus wrote:
    What are we talking about saving every month if you take the less expensive space?

    At least $90 just for rent. Count additional $40-80 on electricity, depending on the season.

    Well, that's a sizable chunk of change: $1560-$2040 per year. Comfort is relative, so that bit is up to you, but would you be able to cut corners elsewhere to afford the bigger place and still save some money? Conversely, would you be able to survive a year and actually save that money until something better comes along?

    Chanus on
    Allegedly a voice of reason.
  • ThanatosThanatos Registered User regular
    edited October 2009
    You're almost certainly going to want the studio.

    What are your plans for the next several years?

    Thanatos on
  • noir_bloodnoir_blood Registered User regular
    edited October 2009
    I take it the lease on your current apt is up?

    Cause otherwise, man your friend's a dick.

    Do you have a girlfriend/friends? Cause a studio can suck in those situations. If you don't, or live a relatively socialless lifestyle, go for it.

    noir_blood on
  • edited October 2009
    I'd suggest taking the studio. I don't know how much wiggle-room you have in your budget (I am hoping that 'at my budget' means you are setting some aside for savings and have some kind of emergency fund) but it might be wise to live in the studio for a year and then re-evaluate.

    Richard M. Nixon on
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  • Johnny ChopsockyJohnny Chopsocky Scootaloo! We have to cook! Grillin' HaysenburgersRegistered User regular
    edited October 2009
    Thanatos wrote: »
    You're almost certainly going to want the studio.

    What are your plans for the next several years?

    I'd like a nestegg. I'd like to keep my car running longer. I'd like a bigger TV and a PS3 to play on it. I'd like to have something in case my paycheck-to-paycheck existence stops having paychecks.

    My financially responsible side is saying "let's have all of those a year from now", but my hedonistic side is saying "You'd be putting your entire life in a box that's only a little larger than the bedroom you already have for the next 13 months".

    Johnny Chopsocky on
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  • ThanatosThanatos Registered User regular
    edited October 2009
    If you're living paycheck-to-paycheck, you should definitely take the studio.

    Thanatos on
  • KhavallKhavall British ColumbiaRegistered User regular
    edited October 2009
    How much do you do in your apartment?

    I right now am renting an incredibly small room because it's cheap as fuck, and really all I have room for is my instruments, my computer, my bed, and me. There's a shared space that I never use, and a shared kitchen. And honestly, I'm either out with people or if I'm at home I'm probably on the computer, watching TV, practicing, eating, or sleeping. It's pretty much all I use my room for. I know some people have a few other things they like to do, or like big spaces, but I have found with myself I have no problem at all with a smaller room because a bigger room just means more empty space.

    I personally, even when I have space, since I don't have to worry about space for anyone else right now, and I'm just fine with small spaces, will always go with the cheapest room available.

    Khavall on
  • FatsFats Corvallis, ORRegistered User regular
    edited October 2009
    The studio. 520 sq ft. isn't even that small, you'll acclimate before you know it.

    Fats on
  • HeirHeir Ausitn, TXRegistered User regular
    edited October 2009
    Thanatos wrote: »
    If you're living paycheck-to-paycheck, you should definitely take the studio.

    Heir on
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  • Phoenix-DPhoenix-D Registered User regular
    edited October 2009
    Heir wrote: »
    Thanatos wrote: »
    If you're living paycheck-to-paycheck, you should definitely take the studio.

    Phoenix-D on
  • mullymully Registered User regular
    edited October 2009
    Take the studio.

    Just imagine how great it's going to feel when you're financially stable and able to afford a luxurious apartment.

    I used to live in an 8' x 21' "suite" (no fooling) because I couldn't afford to live in anything else without being COMPLETELY broke after paying rent. Once I got a better job, oh man, moving into that 435 sq. ft. 1 bed room apartment was completely blissful.

    mully on
  • CodeCode Registered User regular
    edited October 2009
    Take the studio, and take a long hard look at all your furniture and belongings. As you are packing, anything you find that you haven't used/seen in over 6 months, throw it away. A small living space is very easy to do comfortably, but only if you don't end up horribly cluttered. My 3-400 sq. ft. studio was perfect, small couch on one side, computer desk on the other with a 37" lcd for a monitor, which I also used for TV. and a bed. Multi-purpose is key. if you can, get a bed frame that has storage under the mattress, same thing for an ottoman/storage/coffee table. If you own a huge couch now, sell it and pick up some sumo sacs or something. Make it cool, comfortable, and keep it from getting cluttered. Clutter is the bane of small living areas.

    Code on
  • SliderSlider Registered User regular
    edited October 2009
    Erandus wrote: »
    Saving money is almost never the wrong decision.

    +1

    Slider on
  • TriskaidekaphiliacTriskaidekaphiliac __BANNED USERS regular
    edited October 2009
    In Japan a 520 sqft studio would be a palace.

    Take the studio, you can make it work.

    Triskaidekaphiliac on
  • ImprovoloneImprovolone Registered User regular
    edited October 2009
    In Japan a 520 sqft studio would be a palace.

    Take the studio, you can make it work.
    You need to learn how to live in a studio.

    Can you visit an IKEA?
    HGTV has a series called Small Space, Big Style and they cover some great stuff.

    Improvolone on
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  • WootloopsWootloops Registered User regular
    edited October 2009
    I'd personally take the studio and pocket what extra cash I can for a new apartment, say...13 months down the road.

    How often are you home and do you often have guests over?

    If you only come home to eat / sleep / play video games, the studio more than suits your needs. Even if you plan to have a day or two where you want to be a shut in, it's still more than enough room to get whatever you need done.

    Wootloops on
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  • ImprovoloneImprovolone Registered User regular
    edited October 2009
    My last apartment was a studio. I had a bed, a chair, a small kitchen table, a dresser, a night stand, and a crib. My work space was a deep shelf. It is so doable.

    Improvolone on
    Voice actor for hire. My time is free if your project is!
  • FyreWulffFyreWulff YouRegistered User, ClubPA regular
    edited October 2009
    I'd take the studio. But then again, living in West Omaha is gonna be more expensive than the other areas, you could probably get more space for the same money in South O.

    I haven't really been in that neighborhood but it seems okay. Just remember that complexes like that are bitchy about noise, etc.

    As an aside there are open apartments in my building right now, and I'm the building manager, so if you're interested in living near 40th and Dodge I can hook you up with my landlord and you can come look at the apartments and see what you think

    FyreWulff on
  • GothicLargoGothicLargo Registered User regular
    edited October 2009
    I'd take the studio. You never know when you'll need to sink a few hundred on a deductible for your car insurance after plowing into a curb in the soon to be horrific ice storms that will almost certainly befall Nebraska this winter.

    GothicLargo on
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  • Johnny ChopsockyJohnny Chopsocky Scootaloo! We have to cook! Grillin' HaysenburgersRegistered User regular
    edited October 2009
    I'm a social leper, so the likelihood of parties happening even if I got the big apartment are extremely low.
    FyreWulff wrote: »
    As an aside there are open apartments in my building right now, and I'm the building manager, so if you're interested in living near 40th and Dodge I can hook you up with my landlord and you can come look at the apartments and see what you think

    Which apartments are those? And whaddaya have available for what price?

    The place I'm looking at is doing a lease price of $400 for the studio and $490 for the 1-bed with a $99 deposit.

    Johnny Chopsocky on
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  • RhinoRhino TheRhinLOL Registered User regular
    edited October 2009
    I'd take the studio.

    I lived in one. It's not bad, in fact I kind of liked it.

    I had a big book shelf for a "wall divider". There wasn't much room, but having my sleeping area separate from my living "room" and my computer "room" made it feel bigger. Or more homey. Or something.

    Save the money. Spend $10 of that on a wall divider at some thrift story. Profit.

    Rhino on
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  • kaliyamakaliyama Left to find less-moderated fora Registered User regular
    edited October 2009
    studios aren't bad at all if you're looking to economize. do you have a full bathroom and kitchen in that studio space? if so, it's a no brainer.

    kaliyama on
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  • kitchkitch Registered User regular
    edited October 2009
    I just moved out of a 600 sq ft 1 bedroom apartment, and it was plenty of room. I can't imagine 520 being much of a hassle. 13x15 living room is pretty nice for a small place.

    kitch on
  • Eat it You Nasty Pig.Eat it You Nasty Pig. tell homeland security 'we are the bomb'Registered User regular
    edited October 2009
    has to be a question of how much you need/want the space.

    If you don't have a pet or a superactive dinner party schedule or more stuff than you can cram into a studio, what's the point of having the larger space?

    Eat it You Nasty Pig. on
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  • FyreWulffFyreWulff YouRegistered User, ClubPA regular
    edited October 2009
    I'm a social leper, so the likelihood of parties happening even if I got the big apartment are extremely low.
    FyreWulff wrote: »
    As an aside there are open apartments in my building right now, and I'm the building manager, so if you're interested in living near 40th and Dodge I can hook you up with my landlord and you can come look at the apartments and see what you think

    Which apartments are those? And whaddaya have available for what price?

    The place I'm looking at is doing a lease price of $400 for the studio and $490 for the 1-bed with a $99 deposit.

    It's a converted house in the Gold Coast neighborhood. You know, one of those gigantic houses that gets converted to apartments?

    Right now I'm paying 480$ a month for an apartment with a big central room, a kitchen, and room off the side. Water, heat, and electricity included. I believe he rents month to month, since that's how I'm doing it now. I know he just recently remodeled the topmost apartment and that one is going to be 420$ a month, but I think it's electricity might be seperate (not sure though)

    I'll PM you some information

    FyreWulff on
  • Johnny ChopsockyJohnny Chopsocky Scootaloo! We have to cook! Grillin' HaysenburgersRegistered User regular
    edited October 2009
    FyreWulff wrote: »
    I'm a social leper, so the likelihood of parties happening even if I got the big apartment are extremely low.
    FyreWulff wrote: »
    As an aside there are open apartments in my building right now, and I'm the building manager, so if you're interested in living near 40th and Dodge I can hook you up with my landlord and you can come look at the apartments and see what you think

    Which apartments are those? And whaddaya have available for what price?

    The place I'm looking at is doing a lease price of $400 for the studio and $490 for the 1-bed with a $99 deposit.

    It's a converted house in the Gold Coast neighborhood. You know, one of those gigantic houses that gets converted to apartments?

    Right now I'm paying 480$ a month for an apartment with a big central room, a kitchen, and room off the side. Water, heat, and electricity included. I believe he rents month to month, since that's how I'm doing it now. I know he just recently remodeled the topmost apartment and that one is going to be 420$ a month, but I think it's electricity might be seperate (not sure though)

    I'll PM you some information

    Sweet, thanks.

    Johnny Chopsocky on
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