[vtecxaccord]

So finally I have decided I want to move out from my parent’s house. But here is my dilemma, I don’t know if I should move into the apartment I bought 3 years ago or I should just look for a room to rent near where I work. Here are some pros and cons…any advice would be great!

My apartment
PROS –
1. Roommate – Since it is a 1 bedroom 1 bath apartment, I will get the whole apartment myself and not to worry about roommates.
2. Higher tax deduction – currently, I am renting my apartment so the tenant is taking care of 85% of the mortgage. So I will have a higher tax deduction once I start taking over the mortgage.

CONS –
1. Carpool parking – I will have to park my E90 (black sapphire metallic) outside.
2. It is about 10 miles away from work.
3. Less money to spend – since I will be responsible for the mortgage 100%, I will have less money to spend every month. (~ $400)


Renting a room near where I work
PROS –
1. Garage – I will most definitely look for a place with a garage or underground parking
2. More spending money – Rent I am going to pay will be less than my mortgage. (~$400)
3. Closer to my work (~6 miles)

Cons –
1. Roommate – I will need to worry about a roommate and sharing the common space.
2. No additional tax deduction – It will be the same as right now because my tenant is still responsible for 85% of the mortgage.

Also I travel about 20% of the time because of my job. Maybe this would be another factor to consider.
Thanks for reading!

[stooken]

based on this, i would go with the 2nd option if it allows you to save more money.

option 1 allowing you only ~$400 a month to spend is very doable but i don't know what your spending habits are like.

[Couch]

Go for the roommate. Just make sure you know him/her and have similar habits. If you're dirty and he's clean, vice versa it's not gonna work out. As well as your social habits.

[its ray den]

he's not going to save money with option 2 if he intends to spend it. "spending money".

if you plan to stay where you are for a long time.. think 5 years or more, i would buy so i'm not pissing my money away on rent.

if this living situation is going to be temporary, then i would rather rent. it's not worth going through the hassle of buying a place if you have to go through the trouble of selling it again in only a few years.

[vtecxaccord]

Thanks guys for all the reply! I am not going to buy the place. I am already own my current apartment which is being renting out.

The biggest reason is holding me back from moving into my apartment is the outside parking situation. I really baby my car and it is hard to keep it clean.

[Krueger///M3]

Originally Posted by vtecxaccord

Thanks guys for all the reply! I am not going to buy the place. I am already own my current apartment which is being renting out.

The biggest reason is holding me back from moving into my apartment is the outside parking situation. I really baby my car and it is hard to keep it clean.

Here we go...

http://www.costco.com/Browse/Product...t21248&topnav=

[Sara]

I actually like the idea of a roommate. Its nice to have someone to talk to. Im moving in about 7 weeks and I have the option of living alone or with someone. I choose with someone. I get the chance to live on my own without living by myself.