Our landlord informed us last night that she is raising our monthly rent by $150 as of July 1st. We already pay an outrageous price for this place:
2 BR + loft, 2 bath, living room, dining room, washer/dryer included, etc = $1600/month.
I pretty much told her she's out of her mind if she thinks we're going to pay $1725 for this place. (The least reason of which is that we can DEFINITELY find a comparable and/or newer place for cheaper.)
I can't complain too much because she's really been the nicest, and the reason she's raising the rent is because she's gotten married and is officially converting this condo she owns to a rental property. Her ARM came up, and she had to refinance, and now she owes more money due to her new interest rate. So in order for her just to break even, she needs to raise the rent.
While I'm totally sympathetic to that, I'm still pissed.
This leaves us four options:
1. Stay and pay that ridiculous rent for a place that isn't even worth $1600/mo.
2. Find a new place to rent in the area. Which gives us 2 months or so to work that all out and get packed, etc.
However, Craig has given me the ultimatum that he doesn't want to move again unless it's into a house so...
3. Buy a house.
There's no fucking way we can afford a house in this area.
(For laughs, you may like to check out http://www.zillow.com. It will display a "heat map" of house values in a particular area. Check out your own house value! BFE is starting to look pretty good.)
That means we'd have to move somewhere else entirely. I'm lucky with my job, because I'm a regional resource. I can move a lot of places on the East coast. Craig would have to quit his job. Which sucks, because he loves his job.
4. Buy a condo/townhome.
That, we could afford. However, why would I buy something when I'd still have to share walls with other people?
We don't know what to do.
2 comments:
Well, if it makes you feel any better, I pay $1500 a month for a 1 bedroom, 1 bath rented condo, and could never even dream of affording to buy something even this big out here. Of course, it's Los Angeles, but still.
Well, it does make me feel a little better...but still sad for you! The other sad truth to me too is that we're not even close to anything. DC is still an hour and a half commute each way. The prices just keep getting worse farther and farther out every year it seems...
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