Earlier this year, I started touring apartments. I was so ready to move out of my tiny, 515-square-foot apartment and into something bigger and more updated. Unfortunately, those apartment tours were pretty disappointing.
The apartments themselves were gorgeous! I loved the spacious floor plans, closet space, and beautiful kitchens. I imagined having space for a dining room table and more bookcases and plenty of spots for the cats to roam. But I started seeing a trend as I talked with the leasing agents further about prices. For all of the apartments I viewed, I couldn’t find anything that was less than $1,300 a month. That was way above my budget: I was hoping to pay around $1,100 a month.
It made me wonder: Why should I pay so much money in rent every month? Would it make more sense to stay in my tiny apartment for another few years and save up to buy a house or condo?
I want to pause here and say that even entertaining the idea of owning a home blew my mind. Growing up poor and living with an addict who caused us to get evicted from multiple apartment homes, I never imagined this for myself. Being financially stable enough to even entertain the notion of owning a home is mind-blowing to me.
I spent a lot of time thinking about the potential of owning a home. I talked it over with my mom and with friends. I scoured articles about saving for a home. I learned about home loans and closing costs and mortgage insurance. I went back and forth between owning a condo (less maintenance!) and owning a house (more privacy!). I even started saving, setting up a savings account specifically titled “House Fund.” It all felt very grown-up and important and exciting.
My plan was this: I would stay in my apartment for another 2-3 years. I would start aggressively saving for a down payment on a house or condo, upwards of $500 a month (or more, if possible). Continuing to live in my tiny, outdated apartment wasn’t ideal but it would all be worth it in the end because I’d have something that was fully mine. I would get to mark something off that big adult to-do list that I never thought was possible: homeownership.
At the beginning of June, I received my lease renewal from my leasing office. The good news was that my rent wasn’t going up at all. Yay! I prepared myself to sign another lease renewal… but something made me stop and think about it. Could I really see myself living in this tiny space for another year? Did I actually want to do that?
These questions were falling during a really weird time, too. I’m spending a lot more time at home now than I was earlier in the year when I started bouncing around the idea of staying put and saving for a house.
I’ve been working remotely for three months, and it looks like this will be my reality for a really long time. (Which I’m so happy about!) But it’s starting to feel claustrophobic. I’m realizing just how tiny my apartment really is. It’s not serving my needs anymore, and I’m dying to add a few hundred square feet of space.
Plus, I was starting to consider the realities of homeownership (or even condo ownership) as a single person. With nobody else’s income, resources, or help to fall back on, what would owning a home look like for me? What happens when something breaks or I need an expensive repair? What about renovations? Where does that fit into my budget? And there’s no way I’d be able to put down 20%—I’d be lucky to put down 10%—so that comes with its own additional fees.
It was a lot to think about, and I started wondering if I was looking at homeownership with rose-colored glasses. While it seems like the path every adult should be working towards (especially someone like me, who doesn’t have any desire to move from this area), I wasn’t sure if it was really the path I wanted. Especially if it means spending another few years in my shoebox apartment.
So I started looking at apartments. Again. And I started finding apartments that were in my price range, even if they were at the tippity-top of it. One of the apartments I looked at had a beautiful sunroom with skylights where I could put my desk and have an office. The living room was three times the size of what I have now! It had an actual laundry room, not just a stackable washer/dryer stuffed into my walk-in closet. There were updated kitchen appliances and so! much! cabinet! space! It felt like a dream. I wanted it so, so much.
I started envisioning living in a more spacious place and having a new neighborhood to explore. It started feeling really exciting! (As did the process of moving, but that’s a topic for another day.) But it was also scary. I kept trying to figure out what my life would look like if I added $400 to my budget. It would be doable, but I would have to give up some things and tighten up my spending. And saving for a home would take me decades, most likely.
So then I considered Option B: exploring the possibility of renting a bigger apartment in the complex where I currently live. I absolutely love my current residence; it’s nestled in a fantastic, quiet community with incredibly friendly neighbors. While the parking situation and the gym might not be ideal, and the bustling road nearby poses a minor inconvenience, the rent prices here are simply unbeatable. I mean, I’m currently renting a cozy one-bedroom for just $866! Sure, it’s on the smaller side, but it comes equipped with a convenient washer/dryer and is pet-friendly – features that are hard to come by, especially at such an affordable rate.
A bigger one-bedroom would give me 200 more square feet of space, a dedicated dining area, and two extra closets. And a little laundry room! (The biggest one-bedroom would be my dream as it has a large den, which could serve as my office, but those rarely come available.) It would also only add $200 more to my budget.
I hemmed and hawed over this decision for weeks. I spent so much time thinking about it that I started to drive myself crazy. I had to make a decision by the end of June because that’s when I had to give notice to my leasing office if I planned to move. Everything felt heightened with June 30th fast approaching.
Honestly, when I started writing this post on Monday, I still hadn’t made a decision and I was thinking about writing this post to ask for advice. I was still completely confused about what to do.
But then it hit me: Why am I making such a big deal of things? The answer is right in front of me: I’m going to wait for a bigger one-bedroom in my current apartment complex to become available.
The moment I made that decision, I felt such a sense of peace and relief. I know I’m making the right choice. The smart choice.
Not only does this mean my rent won’t be increasing by too much, but it also means I can continue to save for a house. Not at the rate that I could if I stayed in my tiny apartment, of course, but at a higher level than I would if I went anywhere else. It just makes sense.
And so, that’s my long-winded way of saying that I am moving soon. Ideally in mid-to-late August, but whenever a bigger one-bedroom becomes available in my complex. And I’m not putting my dreams of homeownership on hold to do so. It’s truly the best of both worlds, and I’m excited to start this new chapter in my life. (But also: All advice about moving with cats is appreciated. Eeks!)











