This week, I saw a sign listing apartments for rent and the unit prices, and I realized that I could actually afford to live there.
Above is a rendering of micro-apartments being stacked in NYC, which Pop Up City notes will occur this spring. We’ve written about these micro-apartments before—they’re meant for singles earning less than $77K a year and mirrors the kind of small, modular housing found in dense cities like Tokyo. Only 55 micro-units will be available for rent once this project is completed.
“We were surprised by how fast everything happened. We weren’t planning to buy something so quickly, but ended up finding the right house in the right location and at the right price.”
“Well, I knew when I bought the place that I wasn’t long for Ohio. I was there for a job and was only going to buy a rentable property. I decided to become a landlord because this condo was in a larger building, maybe 60 units, and within walking distance from the capital. I figured if I couldn’t rent that, then the whole state had collapsed into a sinkhole.”
Right now I can tell you all about my career goals but can barely say anything about where or how I might want to live, because I’m still hoping to make that decision with someone else.
Is it our student debt, our decision to move to high cost of living areas, the fact that putting a large percentage of our income towards rent precludes us from saving up for down payments, or something else?
“Part of the reason for moving is also so we can either pay less in rent or mortgage and bank the difference to help us get more financially secure before kids, and also have a larger down payment for the forever house.”
I spent all night freezing my ass off and debating whether I should get out of bed to put on a sweatshirt, which means it must be late October in my rented apartment!
I received an email from Liz, a licensed loan originator and self-proclaimed mortgage person, who suggested that readers here may be interested in an “Ask a Mortgage Person”-type column. Perhaps! Send your mortgage questions to firstname.lastname@example.org and we’ll see how this goes!