<p>Question for the parents:
I am about to start a new job in 2 months. I can choose to live in a $750/month apt further out (30min drive maybe, with traffic), or get closer to “center stage” for $1500-$2000/month. I can definitely afford the expensive places and still have a good savings rate but I’m not sure if it’s worth it. I’m still single but I’m not sure if experiencing the nightlife from walking distance 1 or 2 nights a week is worth an extra $500/mo in rent??
How did you guys start out right after college? How do you view it, looking back?</p>
<p>If you are a heavy drinker, I’d move closer to center stage. Otherwise, a 30min drive shouldn’t be a big deal.</p>
<p>What kind of hours will you be working routinely? What will be the frequency of staying really late, needing to arrive really early, having to go in to the office for a couple hours (or more) on Saturday/Sunday?</p>
<p>Do you like both environments - the “center stage” one and the further out one?</p>
<p>Will each have the conviences you need/want as to grocery shopping, banking, etc.? </p>
<p>Have you factored in the cost differentials wrt transportation? Obviously gas will be more from the commute location, but would there be differences in auto insurance, parking (both at your residence and near the office)? Or might you not even need/want a car at all if you were at center stage? Are there other cost differentials?</p>
<p>Have you considered a shared apartment in either location?</p>
<p>Life is so much easier without a commute. Live closer, and pack your lunch a few days. Gas savings will be considerable, not to mention wear and tear on your car (and you!) You will have more options, and you will always be available, no excuses about being able to get to work with inclement weather. Good luck!</p>
<p>If you have to own a car no matter what, I’d live in the burbs and start saving the extra $500-1,000 a month. You won’t be sorry about the savings.</p>
<p>What is your time worth? .5x2x5x4=20 hours/month. Lets assume your time is only worth $100/hr, that is $2000/month. When my daughter starts to work someday in a city (NY most likely), I would encourage her to live in the City instead of commuting out to the boroughs or Jersey. As a young single person, why would you want to live out at the burbs with old married people with kids.</p>
<p>When my husband and I first graduated from college, we spent 50% of our pay on rent, but we were right in the middle of NYC. We didn’t save a dime for the first 2 years, but we had the best time. Then we grew up and became very responsible.</p>
<p>Well, I’m going to suggest that you live in the more affordable place and bank the extra $ every month. In a year or two, you’ll have a nice cushion to use for a move downtown, or you may decide to invest in a condo. </p>
<p>Of course, if you will have to purchase a car for the more distant place, but not for the in-town one, look at the overall comparison for the next two years.</p>
<p>Living in town is great, but so is having money in the bank and the freedom it brings.</p>
<p>Depends on the city. Is it New York? $1500-2000 sounds like NY prices. I’d definitely pay the premium for Manhattan.</p>
<p>Since the OP said he would have savings despite paying the higher rent, then I would encourage him/her to live close to center stage and have a good time while you are young.</p>
<p>If you are going to do any drinking at all in town, it is much better to be able to WALK home than DRIVE half an hour home. </p>
<p>My son has an apt. within 2 blocks of bars and restaurants and I sleep much better at night.</p>
<p>I’d pick the city environment hands down, and I’ve lived in both.</p>
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<p>Someone getting paid only $100/hr would be earning more than $200,000 per year. I’m guessing the OP’s time is worth more like $20 per hour.</p>
<p>If it’s Manhattan in particular, don’t forget you can sell the car…no monthly payments, no insurance, no gas. Public transportation is a relative bargain.</p>
<p>Guessing OP’s time is worth more like $30-40/hr.</p>
<p>Thx for the replies. General location I’m talking about is southern San Francisco bay area, starting with an engineering master’s with a salary that lured me out of a phd program. I expect the hours the hours to be up to 60/week and somewhat flexible… which may make me a late starter, evening finisher ha. Weekends, possibly, if I get lazy with my productivity during the week.</p>
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I’ve lived in both burb & city over the years. They’re so different that when I get used to one, the other isn’t attractive until I’ve moved and readjusted.</p>
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Yes. thinking about keeping my car in either place just because I occasionally drive just for the heck of it.</p>
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good point, haven’t analyzed that. Company also subsidizes public transport if taken.</p>
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Not initially. I may do that after I meet a suitable roommate, so, considering some 6 month rents if the premium isn’t too bad. Too many experiences with total-stranger roommates lol. I’m kind of picky with cleanliness, hygiene.</p>
<p>Ah yes, and drinking. I’m probably a below avg drinker, hope to have 1-2 late nights out a week. I will probably drink a little more than it is suitable for driving tho. There are times when I will stay sober to… enjoy the benefits of that.</p>
<p>I guess I am over paying my develoeprs.:)</p>
<p>What do they develop?</p>
<p>My son is looking at the same area and I gave him this advice: find a roommate and live as close to work as possible, because you’ll be able to do the work socializing easily–and you won’t fall asleep on the way home and have an accident.</p>
<p>(Do you want a roommate? He’s looking in Palo Alto/Mt. View… send me a PM.)</p>
<p>I think the value of “me” time is higher than the pay rate over a certain level. I’d easily value it marginally at $100 an hour even if I were making only $50/hr. Also there are many other “costs” to commuting or driving half an hour. It’s a frikking hassle much of the time compared to being home or out with friends enjoying that time. Many more utils.</p>