Wednesday, September 21, 2005
So the Hubby and I are thinking about moving up in the world. We want to rent a house. We've been thinking about it for awhile. We've decided that we are going to take on a roomate and look for a small two bedroom. Our roomate is going to be Tiny, who was the best man at our wedding. We've both known him for awhile and we think we get along fabulous. Now the tricky part is going to be affording it. I have been running the numbers but I need some help to tell me if it is feasible.

First, Tiny can afford only $700 max, so wherever we are that's it. Currently we pay $900 in rent for our one bedroom apt. We have found a cute little house close to all of our jobs and big enough to fit us all comfortably. It has a nice big backyard and a full basement. It also has LOTS of closets and built in shelves which I am drooling over. I have only ONE closet in my current apt. that can fit anything.

Now here is what I have figured. (per month)

$1800 - My take home pay
$2000 - Hubby's take home pay (approx. $1000 is pay and the rest is commision, which so far has been pretty stable.)

That gives us $3800 to work with. Currently our expenses are $250 for car payment, $300 for insurance, $150 for digital cable, internet, and phone. That leaves us with $3200. Take away $1000 for food and gas. That gives us $2200 to play with. The house we're looking at is like $1700 plus utilities. Tiny thinks utilities will bring it to about $2300. If Tiny pays $700 that will leave $1600. Out of our $2200 that leaves us an extra $400 wiggle room. I believe that only electric and oil is our responsibility. Water is covered by the landlord.

I feel like I am missing something here. Hubby doesn't think it is feasible but let me know what you guys think.
posted by ~M~ @ 10:36 AM  
  • At September 21, 2005 at 2:42:00 PM EDT, Blogger Bonanza Jellybean said…

    My little 2 cents worth (just because you asked :))
    It's pretty close. That's how we thought for a while, and it got VERY tight whenever something came up that was unexpected. If you have savings though, it should be OK. Maybe if we could actually stick to a budget, we would have been OK. I guess it all depends on your comfort level?

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