I enjoy living here in Southern California. However, the cost of living is out of control. My husband and I are currently renting a 700 sq. ft. apartment in a suburb, just outside of Los Angeles. Our rent is very reasonable — for now. Yesterday, we went to the leasing office to explore possibly transferring units because one of our neighbors smokes like a chimney. We’ve complained, before, and he’s received notice from management but he continues to smoke. It’s so bad that when I walk past his apartment I hold my breath.
When we inquired about a transfer, we were told that if we did, we would have to pay a percentage of the rent as a fee. And that’s fine. But when we found out what the new rent will be, we both were taken aback. For a comparable unit, new lessees would have to pay $218 more than we currently pay. MIND BLOWN. How does the rent jump $200 in a year? That’s crazy!
My mom said we should really look into buying because we have the credit for it, it’s just the fact that we need to begin saving for a down payment. I wouldn’t mind getting into a condo or townhouse, for the time being, just to get our feet wet. I feel like it would be a good investment for us until we’re able to purchase a single-family home. Scott’s on board, too. I just can’t deal with climbing rents and no benefits after shelling out thousands of dollars.
It’s going to be a little difficult trying to save for a down payment with a baby on the way but I think we can do it. We just have to learn how to tighten up. This will definitely be a test of my budgeting skills because this is a HUGE goal. We have to sit down and do some number crunching and I’ll post what we come up with later.