Would you pay extra money for a bigger size apartment?

[anamznazn]

I'm apartment hunting at the moment and it came down to an apartment complex I like. The only thing now is choosing between two different rooms. They both have the same amenities, cabinets, appliance, etc. Just wanted to hear your opinions.


Room 1 (780 sq. ft) $1200

Room 2 (990 sq. ft) $1340.
This room includes a bigger size space, better scenic view, and stairs to the 2nd floor loft that's about 13x10 in size.

 

[ender land]

I think you probably would be happy with the second because it is a fair bit nicer it seems.

I do not really like the layout of the first one for a few reasons though.

 

[ucfgrad93]

If you can afford it, go with the larger space.

 

[vincenz]

For $140 more a month, the second one sounds like a better deal.

 

[mscriv]

It completely depends upon your need for space and your current financial status. If you don't need the space and need the extra cash flow then go for the smaller one. However, if you're financially stable and the extra cash out of pocket would not be an issue and you could use the loft space for something (storage, an office, a spare bedroom for guests, etc. etc.) then go for it.

The problem in situations like this is people sometimes spend based on what they want and not what they need. I wouldn't look at it in terms of just $140 a month, but instead $1680 a year. I'm assuming with an apartment you will be, at the minimum, signing a one year lease. So, ask yourself over the next year or possibly longer depending on your lease, do I realistically need that space to justify the extra expense?

All the best with your decision and keep us informed.

 

[Rodimus Prime]

I am on my blackberry right now so I made some assumptions on the 2nd appartment that it lower part of it is upstairs so it kind of has an extra room up there.

I would pay the little extra for the extra space and it is money well spent. I paid a little extra in my last appartment for about and extra 100sf which was in the form of an small extra room. It was worth it because it gave me a little office that I could use. I do not like having my desk/computer in the same room as were I sleep and I like it kind of separate from other spaces but that is me.

 

[anamznazn]

I've ran through a lot of numbers in my head including that $1680 a year. Yeah, I'll most likely signing it for a year's lease and picture myself living here for possibly even longer. Lets just say with the smaller room, I'll estimate to have about $1000 leftover every month (after bills and expenses). With the bigger room, about $800.

 

[Hellhammer]

Just to add some more numbers. Room 1 costs 1.54$ per sq. ft while room 2 costs 1.35$ per sq. ft. You get ~27% more space for only ~12% more $. If the view is better too, then the room 2 sounds like a better deal. It also sounds like you can afford it just fine.

 

[mscriv]

I've ran through a lot of numbers in my head including that $1680 a year. Yeah, I'll most likely signing it for a year's lease and picture myself living here for possibly even longer. Lets just say with the smaller room, I'll estimate to have about $1000 leftover every month (after bills and expenses). With the bigger room, about $800.

Don't forget to throw Murphy into the equation... you know "Murphy's law" - anything that can go wrong will go wrong. There will always be unforeseen extra expenses like gas prices going up, car repairs, clothes, household goods, medical bills, toys, etc.

You know your finances and lifestyle better than anyone else, so you know what's best for you. I just like to advise people that ask to not get themselves in over their head. It sounds like you are thinking through this from an informed perspective so I have no doubt you will be okay no matter which choice you end up making.

 

[anamznazn]

Don't forget to throw Murphy into the equation... you know "Murphy's law" - anything that can go wrong will go wrong. There will always be unforeseen extra expenses like gas prices going up, car repairs, clothes, household goods, medical bills, toys, etc.

You know your finances and lifestyle better than anyone else, so you know what's best for you. I just like to advise people that ask to not get themselves in over their head. It sounds like you are thinking through this from an informed perspective so I have no doubt you will be okay no matter which choice you end up making.

By the way, love your sig. Made me chuckle a bit - very clever!

 

[wordoflife]

I think the better scenic view would be alone worth the extra price

 

[mscriv]

By the way, love your sig. Made me chuckle a bit - very clever!

Thanks, it's actually true, but I haven't found a way to enforce the billing yet.

 

[Melrose]

For $140 more a month, the second one sounds like a better deal.

This. Although, if you don't need the space and can find a better use for the money, there's no real requirement to to upgrade the flat.

 

[ender land]

I've ran through a lot of numbers in my head including that $1680 a year. Yeah, I'll most likely signing it for a year's lease and picture myself living here for possibly even longer. Lets just say with the smaller room, I'll estimate to have about $1000 leftover every month (after bills and expenses). With the bigger room, about $800.

Just be aware you are spending 20% of your income available for spending, unexpected events, savings, large purchases, etc, all for extra housing you do not *need.*

LIke someone else said you know your finances best - but that does seem to be a fairly large percentage of your total income going straight to living expenses. It might be good to look for a slightly smaller place and allow you to save more money, etc. Without knowing more information (this forum not necessarily teh place for this haha) it's hard to say.

 

[iJohnHenry]

A loft is a nice 'enhancement', but you pay the price on the main floor for the stairs to get to it.

A nice view is just that, a nice view, a few times.

I will go against form, again, and recommend the layout of the first one.

We do not know what your needs are, for entertainment or for a home-office, so that is the best I can do.

 

[neko girl]

$140 a month is like 2 iPads a year.
Then again, I love living in cramped spaces

 

[foidulus]

Rent v. buy

I'm assuming you are talking about rent and not buying the place. If you are talking about buying, then that changes the calculus a lot.

My personal rule of thumb is never rent more than you absolutely must, it's just like flushing money down the toilet.

Now if you are talking about buying, then it's a no brainer, the second one. Otherwise save your money so you can someday buy something nice.

 

[Rapmastac1]

I like the layout of the second place much better, and for the extra space that isn't a very bad value. But, only having 800 extra a month seems like a problem to me. I have my budget set up so I have at least 1000 at the end of every month, and that's after I buy my clothes and do grocery shopping and stuff.

If your figures of having 1000 vs having 800 leftover at the end of the month include groceries, insurance, savings, gas, electrical, and misc. expense, then I would certainly go with the larger space.