I recently had to look for a new apartment to rent. I looked for one that is comparable in price, size, and quality to my current one and found one in my first day of searching. (Thank you, crazy Leigh, for documenting everything in your last apartment search!)
This housing change is presenting some interesting cash flow changes. Originally, I was only paying partial rent in the month after closing and then my first mortgage payment was to be due in the following month. Now, I have rent payments covering overlapping periods in the month that was supposed to be after closing.
My auto insurance policy was scheduled to go down based on my zip code move, but since I am no longer moving zip codes, it may go back up. It will probably also go up somewhat since I will convert my condo insurance policy back to a renter’s insurance policy. I should be able to re-instate my renter’s insurance policy since it hasn’t been fully cancelled yet.
I’m going to keep the utilities estimates that I had set for my condo for my new apartment.
I will have to pay for parking in the new apartment building, which I wouldn’t have to pay for specifically in the condo since it’s all wrapped up in the mortgage payment/property taxes.
I will save about $200/month extra while living in the new apartment than I would have while living in the condo.
Hopefully the mortgage interest rates aren’t going anywhere except for maybe down and in a few months, they’ll still be just as good for me.