A math question?

I have a question that has a lot of little details so bear with me.

I plan on moving out of my parents' house at the end of 2017/beginning of 2018. I will be moving in with my boyfriend/potential future fiance.

We've been together for 6 years now so please don't tell me that it's a dumb idea to make this future plan so far out in advance. Marriage is our end goal and 2018 is the year we're looking at for a wedding so yes, I am expecting to be engaged within a year and yes he's in agreement.

Anywho... he will be going on, after we hypothetically get married, to graduate school and so I, being the only one who would be working, would be paying rent 100% on my own for about 3 years.

I bring home about $1600 a month minimum. I have been working for the last 6 months making this $1600 each month and living with my parents so I have no bills. Aside from food at work, gas, and fun money, I have the majority of it in savings.

Let's figure I save 1000 a month. And let's say I sign a lease in January 2018. And let's assume that I continue to bring home 1600 a month (after taxes) until the end of forever.

How much rent can I afford? I would need to be able to pay 3 years of it before he would be able to start contributing.

Would it be best to pay for a more expensive/nicer house/apartment and use my savings or would it be better to go based of the 1600/month and ignore the 24000 I'd have hypothetically saved up?

Feel free to factor into account the fact that I will have to pay for utilities (however much those are - I have no idea) and cell phone bills/car insurance/etc.)

So... any ideas?

This is what I think about at 1245 AM

Also, I am aware that the quality of what you can get for price depends on where you live but let's ignore the location factor and just deal with the money factor for a second.


Have an opinion?

What Guys Said 3

  • If you will have 24,000 saved, you can divide that over 36 months to take $667 per month. Add that to your 1,600/month income and you have 2.267/month. Most realtors will suggest that you not spend more than 1/3 of your income on mortgage or rent payments, so you can pay up to $758/month on rent. In my area, that amount will not get you a luxury apartment at all.

    However, most universities in the US have student housing for older students and married couples. (You posted anonymously, so I don't know where you are.) Why don't you check out those options at whatever school he will be attending?

    • I'm certainly not in need of a luxury apartment haha. Just a hole in the wall is fine, honestly.

  • 1. Don't move out.
    2. Save save save.
    3. Get married after everyone is out of school; have a small wedding.
    4. Continue to live with parents, but buy a HUD (repossessed) house.
    5. THEN, move.

  • Too much math, my head is exploding


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