The general rule of thumb for a reasonable amount to spend on housing is now 30% of gross income. It used to be 27%. The three percent increase probably represents a creep upward as everyone copes with higher housing costs.  So what is 30% actually? Here’s a quick look.

Income $25,000, housing  $625 a month.

Income $35,000, housing  $855 a month.

Income  $45,000, housing  $1125 a month.

Income  $55,000, housing $1375 a month.

Income  $65,000, housing  $1625 a month.

Income $75,000, housing  $1875 a month.

Of course there are other factors that go into the cost of living.  Transportation is a huge one. There is a very nifty interactive site that shows how the costs of housing and transportation together change the affordability of an area. Living in a cheaper area but spending more time driving may not be  cost effective. If your housing plus transportation costs are more than 45% of your income, your costs are unsustainable.  The site offers analysis of most major US metropolitan areas.

Can you afford living alone? Maybe.. how much more cash would you have if you shared your housing? What could you do with that extra cash?

Your goal in the initial phone call is to determine if there is enough of a match to spend time showing and looking at the space.

You should have a clear idea of what you MUST have in a housemate and living situation. What you must have is very different from what you would like to have.  In the phone conversation you can find out if the “must haves” are met by the space. If not, there is no reason to continue the conversation.

Some examples of “Must Haves” might be space for pets or no pets, space for visiting offspring, or other important people in your life, bathroom access, or convenient public transportation. For years, I had a must have of “no TV”.  That made it much easier to find suitable housemates.

The point here is that your “Must Haves” can simplify the time you spend looking for a housemate.

To thine own self be true

The absolute most important part of finding housemates that you want to keep is being really, really honest with yourself and others about who you are and what you can and want to live with.

This is NOT the time to wish you were different. Do not believe you can make someone else different. If you don’t like alcohol, don’t live with someone who has a drink every night. If you like to have a kitchen that is immaculate, don’t move into a house with a kitchen that makes you uncomfortable. If you really like playing music all the time, don’t choose to live with someone who says that they like quiet.

This may all seems obvious. Don’t let yourself slip because you like the person, the location is perfect for you, or the price is right. Since looking for housing can feel scary and be anxiety producing, it’s easy to fall into hoping and ignoring the warning signals. Don’t do it.

Do know the difference between what you MUST have in a living space and what you would like to have.

See future posts on the difference.