Commuting is a drag. I used to do it, but hated it. Even a short commute is a time sink. Especially when you aren’t really that excited about the job you’re going to every day. Does it make sense to give up on the size and cheapness of living far from work?
Most people agree that your housing expenses should be at or below 25% of your take home pay. I agree with this. It can be overwhelming to pay more than that and have the rest of your lifestyle suffer.
BUT what if you spend more, but the location helps your lifestyle? How much would you be willing to spend if you could be close enough to walk to work? Get rid of your car? Not have to maintain your home? Not pay for heating?
I’ve been living in this situation for a few years now. In a condo, close to my work, in a downtown area. I pay quite a bit more than 25% and have been frustrated with that. I know that I’m in a bit over my head. It can be frustrating to see a good chunk of your paycheck disappear every month just so that you can live in a nice place. But does the situation make up for my expenses? Would it for you?
How much of your monthly income would you be willing to spend to be in this situation? Does the lack of car insurance, gas, maintenance, and car payment, bus fare, heating bill, parking expense make up for this?