image: Number Six (bill lapp)
While in the past year much has changed, you know with the baby and all, much has stayed the same. Yes, we’re still renters, baby and all.
Remember that unbelievable rent increase of $8 that we faced in 2008? Since then, our rent has not increased ONE PENNY. Yes, in a followup post, I said that we would probably be moving away from Chicago (the city proper, 606xx, suckas) in about two years. But hey, look at that, home prices plummeted BIG TIME since then, and are still falling! If you followed our blog back then (and why wouldn’t you have?) then you would have known that we were not in the best financial position to purchase a home. Best case scenario for us would have been a variation of “house-rich, cash poor.” Purchasing a home then, combined with the decrease in home prices, would have probably have led to us being underwater on a mortgage now. Not only that, but rent prices have been rising, which makes our place even more of a steal.
Just to remind you – the amount we pay in rent is $1000 per month for a 3-bedroom apartment on the north side of Chicago. Not only have we been saving money on rent, but we’ve also saved on maintenance. Recently, our toilet broke (float arm broke); replacing the whole flush assembly is relatively cheap and easy (under $20). However, since I’m not a full-time plumber (or part-time, really), it would have taken me a lot longer than someone who knew what he was doing. A quick call to the landlord solved the problem while I played with the baby.
Sure, there’s some things that we don’t like in our current place. It’s probably because we’re still in denial that we have another human being to take care of and we can’t lead a DINK lifestyle anymore. But for now, the positives outweigh the negatives and we’re going to stay renters for the time being.