Unit: Renter's Life
Hey, I’m Taylor Vogel and this is Now That I’m Not Your Teacher. Each week we’ll explore an aspect of adulting that you might have missed in school. Since I used to be a teacher, I’ll structure it in ways that are proven to help you retain information. But since I’m not your teacher anymore, I can approach it in a way that’s honest and sometimes inappropriate for a classroom.
In this week’s unit, we’re exploring Renter’s Life—making the most of it, being ready to move out on a dime, and embracing all of the life that can happen when you have the flexibility of renting your space.
In today’s episode, we’ll touch on some financial considerations when weighing the cost of your rental.
A little background—I have lived in 9 different rentals in my adult life (and I’m 31). They were all wildly different, but I’ve been generally happy with most of them because I set a period of time to name what I needed from each space before shopping for the rental.
When you’re renting versus paying toward a mortgage, you want to maximize your dollar by improving the benefits associated with your rental. The easiest of these concepts for me to grasp was whether or not my rental has access to a gym and fitness center.
If so, I don’t have to pay for space that I utilize for my own at home gym. I also don’t have to pay for exercise equipment or a gym membership—I can outsource this to my rental agency. My current rental is a house instead of an apartment, and so I don’t have gym access. The trade? I have a bedroom that functions as storage and a gym, as well as a neighborhood with nice sidewalks for lots of walks.
This concept of knowing what you’re willing to pay for is crucial for appreciating a space that you don’t own and maximizing your dollars. Other things I have considered when shopping for a rental? I have needed to move quickly before, so flexibility with dates means they’ll be flexible with many of their policies (which isn’t always great, by the way). I always consider the environment for walks with my dog, and have even had a view of the Rocky Mountains without a pay increase because I simply asked for it (that one increased my willingness to live on a fourth floor walk-up at the same price). Appliances also really matter to me—things like whether or not I have a gas stove or can hook up my washer and dryer (I’m not going to pay to store them and not use them—that would be ridiculous). And, of course, what my daily commute will be like—it’s a nice thing to rent 10 minutes from work as opposed to half an hour of stressful interstate commutes twice a day.
So, what do you value in a rental home?
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Now That I'm Not Your Teacher by Taylor Vogel is a podcast that offers insight about the real world stuff that teachers often want to say, but either don't have time to or really shouldn't.
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