Would you get an Apartment if it cost you half your salary?

My Apartment - Toronto
@Muelitz (1592)
Canada
May 17, 2009 6:59pm CST
I just moved from a relatives house where I stayed for a year. I am now living in an apartment where my rent is almost half my salary. On one hand, the rent really consumes a big portion of may pay. However there are a lot of advantages that I can think of. I am able to move freely. I can buy things and cook food without worrying that other people would not like. For me it is a good decision. How about you, would you do the same?Just asking SFC
7 people like this
32 responses
• United States
18 May 09
I dont think id find an appartment that cost me half my salary due to the fact i do have 2 children that has needs as well as myself and bills that have to be paid as well. I think id rather look for a place that dont cost me alot but also looking at the place is suitable for children as well as myself and in a safe and quiet area.
2 people like this
@bdayboy09 (153)
• Philippines
18 May 09
It really depends on you. In that case, you should take note of every expenses along with the fee that you pay for the apartment and see if it is worth the freedom you are currently experiencing. If you can find a cheaper alternative or should I say, an apartment with a lower rental fee, then it would serve you so much better.
2 people like this
• Philippines
18 May 09
For me I wont rent an apartment that cost half my salary. Maybe I will look for another apartment that doesnt cost me must. Or maybe I wound ask some of my friends who is renting also and ask her if she would want to share apartment with me. In that way we cant both save a little money for ourself. And It feels lonely if your alone in an apartment.
2 people like this
@hepizoj (40)
• Philippines
18 May 09
if you're earning half a million per month then why not? hehe! just got say that. :p
• United States
18 May 09
Yep LOl why not if you make that much ;)
• United States
18 May 09
I don't think I would rent a place that cost half of my salary. Ideally, you should keep your total monthly spending including rent, grocery, bills, etc. at about half of what you earn monthly. It is wise to budget your monthly spending habits in a way that you are able to save money. Anything can happen to cause unexpected expenses. It's better to try to stay ahead than to fall into debt. Also, you may want to purchase your own home at some point. It would be difficult to transition from an appartment to a house if you are paying so much rent now and saving little. If that is what suits you, fine. I don't think that would be a decision I would make.
1 person likes this
• United States
18 May 09
I wouldn't spend most of my salary on the apartment rent. I would want to have money left over and would need money left over for food and other expenses like utilities and TV and internet. However, the benefits of living in an apartment would be great I just wouldn't want to spend half my pay check on the apartment itself.
1 person likes this
• United States
18 May 09
Never in a million years would I squeeze myself that hard. I know the beauty of having my own space and things. But,there is no way I could ever do this. I am hoping your going to be very happy there. I know it took a lot for you to take that place. Well I am hoping it was a lot of thought on your part. I would like to wish you luck in your new home.
1 person likes this
@arcidy (5016)
• United States
18 May 09
Maybe depend on how nice it is. Since I dont make a lot of money so it would be hard for me to buy an apartment since pretty much all of my money would be going to that apartment and I wouldnt have money for my self to have fun wich would suck. And thats why I dont want an apartment now.
1 person likes this
@melanie652 (2526)
• United States
18 May 09
Half my salary would be more than I would want to pay, BUT as long as you're happy with your new place and don't mind the cost, that is what matters. Congratulations on your new apartment!
@larish (2195)
• Philippines
19 Jun 09
Yes, I agree with you. If were in your place I would still do the same thing. Though a big portion of my income goes to rent at least I have my own place and I am the king of it. I can do whatever I want. All I have to do is to budget my income properly.
• Canada
15 Jun 09
Are you living there alone, or is your wife living with you? Are you the sole income earner, or are you in a dual-income family where your wife earns money too? Have she and the children joined you in Canada? My monthly income is $1020 a month, and my rent is $628. As you can see, that is over half of my income. When I lived alone this worked. I had to cut some corners, but it worked. Now my husband has joined me here, and it works even BETTER, because he brought his income with him. i still pay the full rent, but because of his income WE are able to eat better, and have more extras. So again, it depends on the amount of other things you want to do with the rest of your money, and if you are a single or dual-income family.
• Kuwait
18 May 09
Well, i will not get an apartment that cost half of my salary.i will not waste waste half of my salary for that. If i will live alone i will look for cheap and small apartment that would be enough for me.
@metschica25 (5407)
• United States
18 May 09
Hey ! I suppose if I was single and I liked it I would . There was a time I was living in a packed house with much stress and I would of spend everything for a peace of mind LOL . I guess you could always look for something cheaper by word of mouth , but it depends on many factors . Peace
• United States
18 May 09
most of the apartments in my area are easily 90% to 110% of salary-so in other words,if you don't have roommates,you're screwed. there's a big stink at the statehouse right now about rents being unaffordable. and that's not counting the utilities. half isn't as bad,but still i'd be careful with expenses.
• United States
18 May 09
I live in an apartment that's about half of my salary, too, but that's extremely common around here. I also wouldnt trade it for a cheaper apartment or a house, because I absolutely love the place I'm at and love the freedom of being able to move in a year without having worry about trying to sell a place. I also love the maintainance being done by the apartment people, which I'd otherwise have to worry about. Here, everything is pretty much taken care of for me, but I have privacy and the ability to cook and just have my own place.
@MehaDawn (13)
• United States
18 May 09
It would really depend on the strength of the family. I have a wonderful relationship with my family. That is mostly due to the fact that distance makes the heart grow fonder. If i felt that it would be better to move than to stay where i was living with my relatives, i would move. Even if it did cost half my salary. I would much rather have the freedom of my own space to make my own decisions. I believe that family is one of the most important things on the planet. With out other people, we as humans feel lost. That being said, too much of anything is harmful, including family time. So i guess for me, i would move.
@cindyhxf (1447)
• China
18 May 09
it looks good your apartment.i think you must feel not good when you lived in your relatvies home.i ever shared house with a friend before.but it was really not convinent to do something.such as cook and cleaning house.i won't share house with others again.but i dont get an apartment which cost my half salary.have a nice day
@Minesky (245)
• Philippines
18 May 09
Hi Muelitz! I do understand your point that you have a lot of advantages, moving freely, not thinking about other people's feelings if you would be living with them, however, you do need to consider about the cost. The benefits that you are enjoying may be valued less than what you are paying. First and foremost, you might have be only spending a third of your time at home, since most it would be in the office that you are working. I am now living with my family, since cost wise it is more practical. But I have lived alone before, and I did favor living alone than living with others, and trying to always live harmoniously with them. I am not familiar with your place, but would it be possible that you can source a place that you can lease to own, instead of paying rent? At least in the future, you would eventually own your place? Right now, if I would have to find a place of my own, I guess the only requirements that I would consider is one room for bed and a personal ref, a bathroom, even if the cooking area may be shared, so long as it is only me in the room. Once I enter the house, and then enter my room, it would be my own personal world. Cheers!
@jpso138 (7869)
• Philippines
18 May 09
I would not do that. I would probably look for a better deal. We know how important it is to save money nowadays. So obviously I would try to find something that is not so expensive.
@meipan (745)
• Philippines
18 May 09
i would be crazy if i do that? i can search for an apartment with lower cost if really want to... maybe if that apartment is rent to own, i'll consider the factor...