To rent nice but expensive apartment or not so nice but cheaper flat?

My Darling Clementine · 26-08-2015 04:49AM #1

Hiya guys

So how do we strike the perfect balance here?

Accomodation hunting by myself after sharing an apartment with my partner for 3 years - obviously it's horses for courses and everyones income is different but am conflicted about finding a really nice place but living hand to mouth or whether to go for a cheap studio/flat for a year and save?

All replies welcome

syklops · 26-08-2015 05:24AM

My Darling Clementine wrote: »

Hiya guys

So how do we strike the perfect balance here?

Accomodation hunting by myself after sharing an apartment with my partner for 3 years - obviously it's horses for courses and everyones income is different but am conflicted about finding a really nice place but living hand to mouth or whether to go for a cheap studio/flat for a year and save?

All replies welcome

I suppose it depends how you define not so nice. The nicest place I lived in in the last 5 years was actually a student flat. Admittedly it was quite a nice student flat, but even so, Im now paying more than double for this place.

If it was me, I'd go for the not so nice place and have a couple extra hundred in the bank after the salary goes in. Its better IMO being miserable in a bit of a kip with spare money, then being not fully content in a nice place with no spare money.

My Darling Clementine · 26-08-2015 05:30AM

syklops wrote: »

I suppose it depends how you define not so nice. The nicest place I lived in in the last 5 years was actually a student flat. Admittedly it was quite a nice student flat, but even so, Im now paying more than double for this place.

If it was me, I'd go for the not so nice place and have a couple extra hundred in the bank after the salary goes in. Its better IMO being miserable in a bit of a kip with spare money, then being not fully content in a nice place with no spare money.

That's a very good point

Thanks for that

Columbia · 26-08-2015 05:43AM

Depends on your personality. Will you spend more of your free time in your apartment or out of it? I spend most of my free time in my apartment, so therefore I pay a little more to get a nice place

syklops · 26-08-2015 05:47AM

My Darling Clementine wrote: »

That's a very good point

Thanks for that

Many years of experience renting

Where are you looking to rent? Im curious because when I was looking to rent and ended up renting here, all the not so nice places were the same prices as nice places like here. It was like rental properties started at around 900 and that was it.

10 years ago a friend of mine had a small flat in D4 and paid 370 a month. It was small and cold and the bathroom was outside of the actual flat, but it was a 15 minute walk into town, and at 370 highly affordable. When I moved back to Dublin I was hoping for something similar but the ban on bedsits took its toll and every search I did brought up "nice" places at around 1000+.

salamanca22 · 26-08-2015 05:48AM

Ideally you should not be spending more than 1/3 of your income on your accommodation.

My Darling Clementine · 26-08-2015 06:01AM

syklops wrote: »

Many years of experience renting

Where are you looking to rent? Im curious because when I was looking to rent and ended up renting here, all the not so nice places were the same prices as nice places like here. It was like rental properties started at around 900 and that was it.

10 years ago a friend of mine had a small flat in D4 and paid 370 a month. It was small and cold and the bathroom was outside of the actual flat, but it was a 15 minute walk into town, and at 370 highly affordable. When I moved back to Dublin I was hoping for something similar but the ban on bedsits took its toll and every search I did brought up "nice" places at around 1000+.

Dublin City Centre/Smithfield/Phibsborough - that sort of area, but seems awfully pricey

I'm also considering Rathmines/Portabello/Ranelagh sort've area

My Darling Clementine · 26-08-2015 06:05AM

salamanca22 wrote: »

Ideally you should not be spending more than 1/3 of your income on your accommodation.

I was looking at spending maybe half?

syklops · 26-08-2015 06:29AM

My Darling Clementine wrote: »

I was looking at spending maybe half?

Ideals and realities are two different things. There used to be tons of cheap bedsits in Rathmines but with the ban they are no longer legal :rolleyes:

Have a look at south circular road. There are a few run down looking places that might be cheap and it would be near the Luas.

Also try around Dublin 8 in general. There are a few places sub-800.

Edit: This could very well be the place my friend rented. Right street anyway. I wonder if "Its own separate bathroom", is the bathroom I remember whereby you had to lock the front door of the flat to use the shower. My friend rented it for 370 a month. This one is 740. http://www.daft.ie/dublin/studio-apartments-for-rent/donnybrook/flat-3-35-morehampton-road-donnybrook-dublin-1582507/

100% increase in rent in 10 years. Lucky landlady.

salamanca22 · 26-08-2015 06:33AM

syklops wrote: »

Ideals and realities are two different things.

This.

You have to think about more than where you lay your head down though. Are you saving any money for a rainy day? Are you looking after your retirement (Not a big issue if you are young, but still something to think about), will you be able to afford a social life? The list goes on.

I once rented a place that cost me about 1/2 of my income and it was hard going in other areas of my life for a while. I couldn't save as much as I would have liked and didn't get to do some of the things my friends were doing. I did have a nice place though

It's all really up to you. Are you an introvert or extrovert? Will you be entertaining snooty people?

Also, the rent today you pay might not necessarily be the rent paid in 12 months time when the landlord is allowed a rent review. You have to keep this in mind if you think your wages / salary might not grow to match it.

My Darling Clementine · 26-08-2015 06:48AM

I do like life's pleasures- nice suits, partial to a flutter on the nags, a couple of nights out a week work depending - would probably have to kiss goodbye to these if I spent a decent wedge on rent

Am seriously considering sharing but I do like my own space and get OCD about certain things.

Being back in my folks for 6 months rent free has me spoiled now!

ted1 · 26-08-2015 07:17AM

My Darling Clementine wrote: »

Hiya guys

So how do we strike the perfect balance here?

Accomodation hunting by myself after sharing an apartment with my partner for 3 years - obviously it's horses for courses and everyones income is different but am conflicted about finding a really nice place but living hand to mouth or whether to go for a cheap studio/flat for a year and save?

All replies welcome

Live within your means.

syklops · 26-08-2015 08:21AM

My Darling Clementine wrote: »

I do like life's pleasures- nice suits, partial to a flutter on the nags, a couple of nights out a week work depending - would probably have to kiss goodbye to these if I spent a decent wedge on rent

Being back in my folks for 6 months rent free has me spoiled now!

You can get somewhere nice or you can live in a kip and buy a nice armchair, a decent TV, and keep yourself well stocked in decent whiskey.

Am seriously considering sharing but I do like my own space and get OCD about certain things.

Definitely get the kip. I'd rather live in a shed on my own, than share a penthouse with others.

MouseTail · 26-08-2015 08:42AM

My Darling Clementine wrote: »

I do like life's pleasures- nice suits, partial to a flutter on the nags, a couple of nights out a week work depending - would probably have to kiss goodbye to these if I spent a decent wedge on rent

I wouldn't sacrifice life's pleasures in order to live somewhere with a better standard of furniture. I'd live in the cheaper shabby place, in addition to skylop's excellent suggestion of an armchair, TV and whiskey, I would invest in a trip to Ikea, some plants, rugs, prints, and carry on indulging myself.

jester77 · 26-08-2015 08:46AM

25-30% of your take home pay is really the max you should be giving out on cold renting. So, whatever that can get you. Of course if you move further out from the city you will get better quality:price than closer, but you also have to take into account travel costs and more importantly your own personal time that you lose.

For me, I would rather live in a cardboard box in the city than have to commute more than 20-30 minutes.

26-08-2015 10:35AM

My Darling Clementine wrote: »

Being back in my folks for 6 months rent free has me spoiled now!

If it's handy for work etc I'd stay where you are. Why waste money on rent when you could be saving it every month working towards a deposit for your own place. Along with having much more disposable income for your social life etc.

syklops · 26-08-2015 11:21AM

jester77 wrote: »

25-30% of your take home pay is really the max you should be giving out on cold renting. So, whatever that can get you. Of course if you move further out from the city you will get better quality:price than closer, but you also have to take into account travel costs and more importantly your own personal time that you lose.

For me, I would rather live in a cardboard box in the city than have to commute more than 20-30 minutes.

A cardboard box with broadband.

Tar.Aldarion · 26-08-2015 11:36AM

Depends on your preference, we spend a lot of time at home, I'd like it to be nice!
Nothing however seems to be nice at all, just really expensive. It's hard to find a tradeoff with having money/saving and renting somewhere nice. Bad times here.

Was looking at 2 bed apartments there for 1500 or so, they were all muck. Will stick with my 1 bed for now, they all have tiny living areas unfortunately. (or cost far too much fora 1 bed place)

To rent nice but expensive apartment or not so nice but cheaper flat?

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