One thing I’ve always had in mind is that when I do move out of the house, it has to be some place extremely close to work; close enough to get there in around 15 minutes, whichever the method of transportation. Living in the Bay Area I’m quite familiar with the horrid commutes many people have, and the last thing I want is to join that party. If my living situation is going to change, then decreasing the amount of time it takes to get to work is a must-have criteria. Otherwise, I don’t really see a point: there’s no good to having my own place if I’m miserable from the daily commute.
Problem is, obviously, it’s extremely expensive to rent a spot in San Francisco, much less on the west side of the city where the university is. And let’s not even speak of actually buying a house in the area, a downright impossibility, unless the housing situation changes dramatically, or I hit the lottery. That being said, I browse the rental ads on Craigslist periodically to gauge the market, and to see if anything will pop up that’s reasonably affordable, with superb proximity to work.
Last week, one such place did materialize. A mere 10 minute walk from campus, it was a newly refurbished in-law studio renting for $1,600 a month, all inclusive. Squeaking in at just under the 1/3 of income rule for a lease, the place was eminently affordable, somewhat to my surprise (I guess the market has soften a bit). Of course, the most alluring attribute is the closeness to campus; to be able to simply walk to work is an absolute dream. There’s a mall with a Target and Trader Joe’s only two blocks away, so it could not be more convenience in terms of living necessities, too.
Later that week I went and saw the place (it was indeed lovely), and then started on viability calculations before I officially apply. Unfortunately, the math did not rule in the favor of leasing: I can afford the place, but due to rental costs, I’d be saving very little every month (if at all) - house poor, as they say. The problem is the big financial purchase I made this January: my Porsche 911 GT3. Had I bought a way more sensible sports car, one that doesn’t cost four-figures to keep every month, I think I would have handed in the application this past weekend.
I did think about selling the 911, though that has its own conundrums and difficulties. I unconditionally adore the car, and letting it go would leave a huge gaping spot in my car enthusiasm. The GT3 is suppose to be the ‘forever car’, so selling it after only one year of ownership would be devastatingly irresponsible. Porsche cars hold their values well, but that doesn’t mean they don’t depreciate: my 911 have loss about $20,000 in value since January, a real, tangible decrease if I actually sell the car. Not to mention I’ll never get the five-figure in taxes I paid when I purchase the car back. Some States let you offset the tax if you trade for another car; communist California sadly doesn’t.
It seems I have to see that process through with the 911 until I can make another huge financial move. I wouldn’t call the car an albatross, but I think it would be wise to accelerate paying off the rest of it so I can have some flexibility. New years resolution for 2020, perhaps?
Driving home to a beautiful light.