April 15, 2011

Apartment Search

As I previously mentioned, I've been looking at new apartments because my current place is increasing their monthly rent 5% = over $50/mo. So because they were unwilling to negotiate and I already feel unsafe living in a first floor, wood-facing apartment, I'm doing my darnedest to move (even if that means paying over what they're charging). Last Sunday, I went apartment hunting in an area closer to the city, but only 4 miles further from work. I had done my research and even created a dorky spreadsheet, but there's just something about looking at a place in person. Additionally, all the apartments were pretty much charging $100 more than what was listed on their websites.

The place that I've decided on doesn't have any vacancies for when I need to move (my current lease is up 6/18), however they let me put a blank deposit check on the apartment to move me to the front of the wait list. The big decision came between choosing between two 1 bed/bath layouts.

My current floor plan is 761 sq ft:
Pro's: Garden bathtub (HUGE!)
- Good Kitchen space
- Walk-in closet

Con's: 1st floor
- Wood facing (which I have to pay $40 more a month for; ironic because it actually makes me feel less safe)
- Office staff hours not convenient for workers (packages at the front office basically have to be picked up on the weekends)
- They're increasing rent 5% annually with zero negotiating.
- I have to pay storage separately

Of the new options, Option A2
Pro's:
- Fireplace!
- Ceiling Fans (reminds me of home)
- LARGE storage unit (don't have to continue having separate storage and no long have to wait to put up Christmas decorations till I can get to a separate storage unit!)
- 2nd Floor
- Friendly office staff
- Apartment rents movies & bikes for free!
- Closer to BF's Downtown apartment, a GOOD mall, social-civilization
- Cheaper Auto/Renter's Insurance

Con's:
- Smaller sq footage
- Limited Counters space in the bathroom.
- Smaller bathtub than current
- Smaller Kitchen than current 

Option A3:
Pro's:
- Ceiling Fans (reminds me of home)
- LARGE storage unit (don't have to continue having separate storage and no long have to wait to put up Christmas decorations till I can get to a separate storage unit!) However smaller than A2
- 2nd Floor
- Friendly office staff
- Apartment rents movies & bikes for free!
- Closer to BF's Downtown apartment, a GOOD mall, social-civilization
- Cheaper Auto/Renter's Insurance

Con's:
- Smaller bathtub than current


So if you can't tell, I listed the A3 as a first choice and the A2 as a second choice. I event talked the community into waiving my application fees and can potentially negotiate the monthly cost to be within $50 of where my current place's new rent would be.

I crunched the numbers:
- Expected Monthly Gas based on different mileage to BF's/Work/Junior League (mileage/gallon of gas)
- Monthly Rent
- Expected moving cost of $450-$500 (one time cost)
- Monthly Gym membership (for those apartments without a gym) assuming $35/mo
- Monthly Storage fee ($39)
- Renter's/Auto insurance difference between the two counties ($100+ annually)
- Expected utilities cost based on similar or increase sq footage

Bottom line, I'm an excel dork who's crunched the numbers, and my feeling of safety and security = $300 annually (because that's how much more I'm going to have to pay this year to move to this place.... TOTALLY WORTH IT!)

How do you go about researching new apartments/homes?

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