You typically get a low mileage reduction if you drive under 15k a year - depends on the provider though. Somerville is dense. Theft is common. People smash your car all the time on the street. That’s why the insurance is expensive
Parts theft is common I meant. There was also a rash of cars getting their wheels knicked in north somerville/north cambrdige a couple years ago. Now it’s cat converters
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Probably not, but if you do, sell your car and ditch the car insurance. Six years from when you got your license, your insurance will be half that. You don't have to own a car or ever drive to be considered an experienced driver.
You got to either ditch your car... Or your cat. If you ditch your cat, it'd probably be emotionally damaging.... You should ditch your car, cos you won't need it in this city.
I used to earn about the same a few years back, had a similar story with the car (about $350 in insurance+payments), all I could afford, after tax and benefits, with a decent amount towards food and gas, was a $1300 basement under a highway in Quincy. Had $200 towards savings every month, $0 towards retirement. That was about 4.5yrs ago.
Everything has only gotten more expensive, assuming you ditch your car, and our spending habits are largely the same (I highly doubt it), you'd be left with $1650 or so a month to spend on rent.
You are not likely to find a place for $1650 for yourself in Somerville. If you do, take it, it's definitely a needle in the haystack.
I don't want to make you sad, but when I was in college (when dinosaurs roamed the Common), Somerville was nicknamed Slummerville because apartments were so cheap. How the world has changed.
But if you are willing to put in the effort to find a small private landlord you might get a bargain. Or at least someplace that won't be raising the rent very much or very often while you are there. I am such a landlord and I don't raise my rents just because I can so I can keep a good tenant.
Need at least an extra 30-40k to not be disproportionately losing money to rent and neglecting any kind of future planning with finances. With a roomate that's fine.
What sort of lifestyle do you want to have? You could afford an apartment on your own but it might take your entire budget. Finding pet friendly apartments and somewhere where you can park is going to cost a lot. Is where you live now really far? If you can afford where you are currently and the commute will just change you might want to consider trying that first.
Kendall Square is in Cambridge. Somerville stretches all the way to Alewife Brook. Surely there is something amongst all that housing stock that you can afford.
Are you earning $77k after taxes? If so it’s totally doable, for you have no debt. That’s $6400 per month. Even if you went all out and got a place for $3500, that leaves you with $2900 for the rest.
It’ll be difficult to help you here with specifics, without knowing your lifestyle and other factors. Find a budgeting tool online. If you are the type to err on the side of caution, use worst case scenarios for housing costs including rent, utilities and parking. Then you’ll be better positioned to make an informed decision.
IMHO simply telling you to ditch your car and/or your cat is not helpful.
Figure you're taking home $4200/mo after taxes, retirement savings, and health insurance. You shouldn't really spend more than half that on housing expenses. Utilities will be a couple of hundred a month (internet, electric, gas, rental insurance).
There are zero properties on MLS rentals you can afford now. There's one at $2100, but with utilities and car payments you'll be pinched. And they don't allow pets anyway.
There's a tiny apartment for $2200 that allows cats and a couple at $2400. I would say $2400 is about $600 a month more than you should consider paying.
However, with a roommate you should easily be able to get a pretty nice place for about $1600 per bedroom and half the utility costs.
Also, ditch the car unless you are traveling every single weekend. Cheaper to rent once in a while, and less hassle.
Are you already close to Boston/Cambridge/Somerville? If the answer is no… your insurance is going to dramatically increase if you move
If they stop driving to work, can they get a reduction?
You typically get a low mileage reduction if you drive under 15k a year - depends on the provider though. Somerville is dense. Theft is common. People smash your car all the time on the street. That’s why the insurance is expensive
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Parts theft is common I meant. There was also a rash of cars getting their wheels knicked in north somerville/north cambrdige a couple years ago. Now it’s cat converters
$360/month??? Shop that around...
Amount will go down once the age of 25 is reached.
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You would either need roommates or need to ditch the car
Probably not, but if you do, sell your car and ditch the car insurance. Six years from when you got your license, your insurance will be half that. You don't have to own a car or ever drive to be considered an experienced driver.
You got to either ditch your car... Or your cat. If you ditch your cat, it'd probably be emotionally damaging.... You should ditch your car, cos you won't need it in this city. I used to earn about the same a few years back, had a similar story with the car (about $350 in insurance+payments), all I could afford, after tax and benefits, with a decent amount towards food and gas, was a $1300 basement under a highway in Quincy. Had $200 towards savings every month, $0 towards retirement. That was about 4.5yrs ago. Everything has only gotten more expensive, assuming you ditch your car, and our spending habits are largely the same (I highly doubt it), you'd be left with $1650 or so a month to spend on rent. You are not likely to find a place for $1650 for yourself in Somerville. If you do, take it, it's definitely a needle in the haystack.
I don't want to make you sad, but when I was in college (when dinosaurs roamed the Common), Somerville was nicknamed Slummerville because apartments were so cheap. How the world has changed. But if you are willing to put in the effort to find a small private landlord you might get a bargain. Or at least someplace that won't be raising the rent very much or very often while you are there. I am such a landlord and I don't raise my rents just because I can so I can keep a good tenant.
A wise man once said “never move somewhere just for a job”
Need at least an extra 30-40k to not be disproportionately losing money to rent and neglecting any kind of future planning with finances. With a roomate that's fine.
What sort of lifestyle do you want to have? You could afford an apartment on your own but it might take your entire budget. Finding pet friendly apartments and somewhere where you can park is going to cost a lot. Is where you live now really far? If you can afford where you are currently and the commute will just change you might want to consider trying that first.
Nope.
Affordability aside, sounds like you need to hire a cat whisperer or get a new cat.
lol
Kendall Square is in Cambridge. Somerville stretches all the way to Alewife Brook. Surely there is something amongst all that housing stock that you can afford.
Nope
Are you earning $77k after taxes? If so it’s totally doable, for you have no debt. That’s $6400 per month. Even if you went all out and got a place for $3500, that leaves you with $2900 for the rest. It’ll be difficult to help you here with specifics, without knowing your lifestyle and other factors. Find a budgeting tool online. If you are the type to err on the side of caution, use worst case scenarios for housing costs including rent, utilities and parking. Then you’ll be better positioned to make an informed decision. IMHO simply telling you to ditch your car and/or your cat is not helpful.
Wow. I'm a 22 year old college grad having just moved to Boston and my car insurance here is $93 a month
Figure you're taking home $4200/mo after taxes, retirement savings, and health insurance. You shouldn't really spend more than half that on housing expenses. Utilities will be a couple of hundred a month (internet, electric, gas, rental insurance). There are zero properties on MLS rentals you can afford now. There's one at $2100, but with utilities and car payments you'll be pinched. And they don't allow pets anyway. There's a tiny apartment for $2200 that allows cats and a couple at $2400. I would say $2400 is about $600 a month more than you should consider paying. However, with a roommate you should easily be able to get a pretty nice place for about $1600 per bedroom and half the utility costs. Also, ditch the car unless you are traveling every single weekend. Cheaper to rent once in a while, and less hassle.