Single, $255/month student loans...What's the most expensive place I can realistically live granted I have a roommate or two?
Single, $255/month student loans...What's the most expensive place I can realistically live granted I have a roommate or two?
Entry Level Dingus wrote:
Single, $255/month student loans...What's the most expensive place I can realistically live granted I have a roommate or two?
$45,000 is way too much for one person to "earn."
before taxes >.
Yes you can afford to live in boston. Probably Brighton and Allston are doable, or you could go really cheap and go Roxbury. You will be taking home roughly $2,500 a month. $900 to rent/ utilities, 250 to loans. 200 to transportation 300 food 200 to other bills (phone/cable). That leaves you with $650. Put 200 to savings, and you still have 450 a month to go out or get a more expensive place.
You could realistically live in a lot of the neighborhoods like Brighton/Allston, Southie, JP, Dorchester or West Roxbury on that with 1 roommate and be fine, maybe even somewhere in the back bay...what are your other expenses? Car payment?
I lived alone in West Roxbury for a year making about that much with $300/month in student loans but also had a $250/month car payment and essentially broke even, I wasn't saving at that point in my life.
Where will you be working? A lot of the surrounding towns may make more sense depending on your commute. Good Luck.
Thanks for the responses. On top of loans I have phone bill and car insurance pretty much. My job is in watertown, so allston/brighton would actually be perfect
Allston Brighton is fine. Watertown would be fine. Somerville too. I think that if you can keep your rent, heat, and hot water (sometimes included) under $1,000 a month, you will be fine. Ideally have a parking spot included if you can. Contribute to your 401k and try to put away 100-200 a month.
Entry Level Dingus wrote:
Thanks for the responses. On top of loans I have phone bill and car insurance pretty much. My job is in watertown, so allston/brighton would actually be perfect
The best bang for your buck is to find a situation where you share a house with numerous roommates. That'll get your rent under 1k. It'll be tight, but I did the very same thing 15 years ago or so....
Most Allston / Brighton apartments require you to park on the street -- which quickly becomes a miserable situation when it snows. (see link)
http://www.choicestream.com/2013_Staging/wp-content/uploads/2015/02/boston-snow.jpg
Q: have you looked into Watertown, Arlington, or Newton?
Not yet, but I was planning on looking into those areas soon. I just assumed newton and that surrounding area would be a bit expensive compared to allston, brighton, cambridge etc
Change @ Park wrote:
Most Allston / Brighton apartments require you to park on the street -- which quickly becomes a miserable situation when it snows. (see link)
http://www.choicestream.com/2013_Staging/wp-content/uploads/2015/02/boston-snow.jpgQ: have you looked into Watertown, Arlington, or Newton?
Not unless you can find subsidized housing.
I guess another question I have is what's a good price for an apartment that I should be searching for. I'm hearing keep it under $1000 but does that include utilities if they are/aren't offered?
Entry Level Dingus wrote:
Not yet, but I was planning on looking into those areas soon. I just assumed newton and that surrounding area would be a bit expensive compared to allston, brighton, cambridge etc
Change @ Park wrote:Most Allston / Brighton apartments require you to park on the street -- which quickly becomes a miserable situation when it snows. (see link)
http://www.choicestream.com/2013_Staging/wp-content/uploads/2015/02/boston-snow.jpgQ: have you looked into Watertown, Arlington, or Newton?
i'd agree on watertown and arlington, and the cheaper parts of belmont or newton. brighton and allston are PITA in the winter, and boy did we just have a tough winter.
also, watertown is nice that its on the charles, thus lots of good running. newton is nice that you get access to the marathon course, also more good running. assuming you care about that and all, as this is LRC.
Change @ Park wrote:
Q: have you looked into Watertown, Arlington, or Newton?
Are they in Boston?
Waltham is another good alternative for housing.
I lived in allston in 2007 and made 54k before taxes. Lived in a 3 bedroom apt so rent was 667 plus cable and electric. Heat and hot water were free but the landlord hardly turned it on so it was usually cold. I was able to save about a paycheck per month and paid off my new 20k car after a year. Looking back I wish I used that money to invest or buy a house instead.
We had 2 driveway spots which is rare so took turns parking on the street. Parking was a PITA and all 3 of us got ticketed or towed at least once due to street cleaning (the sign was literally cut down but still lost appeal) or snow emergencies etc. Even less parking on weekends. Traffic sucks, expect at least a 30min commute to Watertown. The B line is a 45 minute ride to downtown Boston. It was fun when I was 23 but I had enough after just one year and moved to the suburbs.
Entry Level Dingus wrote:
I guess another question I have is what's a good price for an apartment that I should be searching for. I'm hearing keep it under $1000 but does that include utilities if they are/aren't offered?
IMO, yes. If you have 1 roommate you should be able to get something nice for $1500-1700 including utilities so you'd be doing $750-$850/month each. $1000/Month can work but you'll need to pay more attention to your weekly expenses at your salary level.
this sounds unappealing to say the least. I'm thinking more along the lines of newton/waltham area now considering the commute and possibly cheaper prices.
One additional question I now have is looking for a 1bed/bath. What's the price range look like for that and is that in any way worth it. I am 23 so living with friends would obviously be more fun, but would living alone be feasible too?
Don't live alone, it gets lonely and expensive. There's really no reason to. Do you really want to eat alone everyday? Roommates are fun and if you're single you'll have many spontaneous nights and meet way more people.
I had a friend who shared a 5 bedroom house in Waltham, it was a great situation. Big driveway, yard, quiet at night. he had season tickets to the celtics so he was in the city all the time. Might be harder to bring a girl home in the suburbs though, if that's what you're looking for.
Living alone would be around 1200 including heat and hot water. I lived in Brighton with 2 other bros. We each paid 650 with heat and hot water included, but we got a steal and the place was pretty small. Most people who shared with at least 1 person paid between 800-1000. I think that is the range you can afford. You need to hunt though and you may get a good spot. Living with a car in any city is a nightmare, especially boston. I like the Waltham/Newton suggestions. More expensive in general but you could find a good spot.