Picky Eremite

August 4, 2007 9:37 AM

Financial judgement call: My current lease ends Sept. 30, and a much desired loft (city view! high ceilings and stainless appliances!) is available Aug. 30. Neither current or pending landlord will relent in the proper direction (i.e., +/- 30 days) so that, should I take the new place, I would definitely be paying two rents for one month. Ouch. Frugality battles aesthetics. Am I being foolish?

The problem is -- and it's a good one to have -- I can afford it. I rent because of the proximity to work (downtown ATL) and because I save a rather large percentage of my salary each month. So is this just my being an uncharacteristic impulse shopper? My friends are all sober homeowners or giddy renters; I'm (usually) more of a sober renter. I'd hoped to hear advice from the green.

posted by Haruspex to home & garden (28 comments total)

Do It! If you afford it and it will make you happy, do it.
posted by A189Nut at 9:39 AM on August 4, 2007

If I could afford it, I'd do it. If you were planning on hiring movers, you could probably save money by leisurely moving most of your own stuff over the course of the overlapping month. You could also justify the extra expense though the reduced stress -- you'll have 30 days to switch over everything to the new address, extended time to move, clean, etc, rather than having to cram everything into a single weekend.
posted by occhiblu at 9:40 AM on August 4, 2007

Do it. It also gives you a month to move things leisurely, and to give the old place a good cleaning instead of trying to do everything in a day or two.
posted by spinifex23 at 9:41 AM on August 4, 2007

do it - especially if you are planning on living there for a while.. whats 1 months rent spread out over a couple of years?
posted by modernnomad at 9:43 AM on August 4, 2007

Yeah, why not, especially if you plan on staying in the new place any length of time. You will consider it money well spent. If you don't do it, and get a different place, you may curse yourself every time you come home, and never be happy.

It's not about aesthetics as much as it is about quality of life. If the quality of life is worth it to you, that's all that matters. Have fun!
posted by The Deej at 9:44 AM on August 4, 2007

One way to think about it is to mentally divide that extra expense over the time period you expect to live at the new place.

So, say, if the extra rent you'll pay is $1000, and you imagine you'll live a the new place for three years, that extra $1000 comes to around $28 per month that you live in the new place. Does a $28 rent increase to be in a place you love sound worth it? If yes, move, if no, don't.

(My guess is - it probably is worth it, it's just that there's an emotional resistance to the "unreasonable" expense of having to pay rent on two places...)
posted by ManInSuit at 9:47 AM on August 4, 2007

Do it. One month's rent is small premium to pay for a fabulous apartment, especially if you are going to live there more than a year. Maybe I think that way because I live in NY. I don't know.

But as spiniflex said, moving is SO much easier when you have the whole month, rather than 24 hours.
posted by milarepa at 9:49 AM on August 4, 2007

That's a compelling consideration: the extended moving time. Many of you said it, so I'll forbear from favoriting them all. Thank you.
posted by Haruspex at 9:52 AM on August 4, 2007

In a lot of college towns, people regularly pay two or three months rent to keep their place so that no one else will take their apartment. Now, that's not exactly your situation, but I've seen others pay rent in two places. It kind of sucks, but the up side is like they said - you get to move more leisurely.

And if you can - just do it!
posted by mulkey at 9:56 AM on August 4, 2007

Can you get the old landlord to let you sublet for a month? Then find someone looking for temporary lodging for 3-4 weeks and voila! rent covered (or exceeded). Just be sure to get a large deposit (and references).
posted by zia at 9:58 AM on August 4, 2007

I did this. It happened that my in-laws wanted to visit around the same time, so we let them stay in the old place as we moved into the new one. They contributed towards the rent to help us out, but they got a kitchen to cook in (they like to be able to make their own food) and their own keys to come and go, and no one was crowded together.
posted by bashos_frog at 9:58 AM on August 4, 2007

As a fellow "sober renter," I've done it. It's definitely worth it for a great apartment.

I would suggest moving as quickly as possible and giving the keys to your old place back to the landlord with the understanding that he or she will reimburse you if the unit is rented before the last day of your lease. At least where I live, the landlord would much rather be renting it for early September, anyway, so you may luck out.
posted by backupjesus at 9:58 AM on August 4, 2007

Following what everybody said, I'd say do it. I recently moved and I thought about paying rent for about half a month or so to give me enough time to pack and move stuff. Trying to move everything in a matter of few days is a lot of pressure especially if you work full time and want to keep a normal rhythm in life(i.e. moving boxes all weekend can make you have worse week). Think of it as paying one month extra as opposed to paying 2 months. You're paying the new rent(higher) anyway so you can move in faster, but you're paying the older one so you can pack EVERYTHING, take time to throw away stuff you don't want for your new fancier apartment, and make sure you don't get charged for any damages in the old apartment. There'll always be something. If you really want the new apartment, I would do it. Finding another place you like in a month, is squeezing it too tight and a pain.
posted by icollectpurses at 9:59 AM on August 4, 2007

Jumping back in to agree with those who say the overlapping month is great for no-stress moving.

And that I think we are all jealous.
posted by The Deej at 10:00 AM on August 4, 2007

Oh gosh, do it. One month of shitty finances in exchange for x years of happiness in new loft? Easy decision.
posted by meerkatty at 10:05 AM on August 4, 2007

I've overlapped rent when moving, oh, a few times now. It is absolutely worth it if you're planning to move your own belongings. You get plenty of time to move, there's less of the last-minute frenzy, and you can return to clean the entirely empty apartment another day, instead of trying to clean as you move.

And if it's the only way to secure your gorgeous new place, it's well worth the investment! Be glad you can afford it.

Congratulations!
posted by Elsa at 10:05 AM on August 4, 2007

This wholly generous and well-nigh unanimous response has now gotten me all fired up, excitedly anticipating the change. Yay! I'm blasting Spoon's new album and casting a gimlet eye upon what I shall soon be dumping off at the thrift store.
posted by Haruspex at 10:12 AM on August 4, 2007

You've already paid first/last and deposit on where you live now, so technically it doesn't cost you anything at all to move early. In fact, that's the whole point of paying first & last when you sign the lease in the first place, right? To make moving out easy and affordable!
posted by majick at 10:13 AM on August 4, 2007

I agree with everyone else. Our last move was this way (we were buying) and paying that last rent was so worth it because of the extra time.

I just helped a friend move, same situation only she had only a couple of days to do it. She's had a week from HELL.


Pay the extra month!
posted by konolia at 10:18 AM on August 4, 2007

Sublet! Like zia said. Take a week for a leisurely move and rent it out for the remaining three to a tourist or someone just moving to the area. You get the place you want, and recoup some of your double-rent costs so you don't feel so guilty about it.

Even if your landlord won't let you officially sublet, he can't stop you from having a "friend" stay there for a few weeks, and he'll never know if that "friend" pays you. And if he does find out, what's he going to do, evict you?
posted by doift at 10:21 AM on August 4, 2007

Soooooooooooo... when's the meetup?
posted by The Deej at 10:25 AM on August 4, 2007

It's an incredible luxury to be able to move at your leisure over a few weeks. Almost nobody gets to do that. Think of the double rent as paying for time, ease, peace of mind and lack of stress.

Subletting can be an added bonus/reward if you get your move finished in the first week or two. As doift mentions, there's really not much your landlord can say or do about an informal sublet over the last few weeks of a smoothly-ending lease.
posted by lorimer at 11:04 AM on August 4, 2007

Do it.
posted by Ironmouth at 11:49 AM on August 4, 2007

as someone who has adopted a nomadic lifestyle (not really by choice) Do it. Do it. Do it! Pack your stuff up over one month is way easier then 3 days before hand.

It's good to be frugle, but this is too good to miss. Do it!
posted by Attackpanda at 12:13 PM on August 4, 2007

Do it ... except, are you sure there aren't other lofts that are as good and available at the right time? Yuppie loft condos aren't that rare these days, and with the market as bad as it is, I can't imagine you'd have a hard time finding another for Oct. 1.
posted by raf at 3:37 PM on August 4, 2007

Your current landlord may also be able to rent out the apartment for mid-month. So you might only lose 2 weeks of rent, if you break the lease with the understand that you'll be reimbursed if someone moves in. (Some tenancy laws & leases even say this.)
posted by acoutu at 3:46 PM on August 4, 2007

take the loft!
move your stuff at a relaxed pace. paint, clean, all that.
sublet your old place for the whole month or at least a few weeks if you can (even if it's empty).
invite friends to town to come stay at your pied-a-terre.
you'll be so much happier, and it's only money.
posted by twistofrhyme at 4:24 PM on August 4, 2007

You mean there are people who don't overlap a month when they move? I have always considered it a cost of moving -- if I can't afford to do that, I can't afford to move, any more than I can afford to move if I can't afford to hire movers. This last time I only overlapped two weeks, hoping to save some money since my rent was going up substantially at the new place, and I regretted it because I was really rushed trying to get the new place painted and so on before moving day.
posted by kindall at 5:51 PM on August 4, 2007