The Bean and I are going into our tenth month of apartment living, after a year and a half renting a house that was way out of our price range. We had to give up a lot of space (and a lot of stuff), including our own bedrooms and a gigantic backyard. We also gave up a second bathroom, laundry facilities, and a basement for storage.
It's been great though. We acquired a bunk bed on Kijiji for $25 right after we moved into the apartment. I no longer have to mow a gigantic lawn, or shovel a long long driveway. I have only one bathroom to clean. Laundry is right down the hall ($1.50 wash and dry, each) and if I stay organized everything gets washed once a week. We have a storage closet that is pretty full and I hope to make the time to clean it out and organize it over the next couple of months.
What I have saved in nine months:
Hydro: $2340 (avg)
Cable: $510 (approx)
I have managed to reduce my debt by almost $6000 in 2009.
I received a notice from the property management company last week that my rent will be increased by the legal 3% in January 2010. My rent will then be around $812 (utilities included). I have been inquiring about two-bedroom apartments but they rent for $950-975 in my building. I am tempted to keep us where we are for a few more months to be able to continue to pay down the debt.
My new goal is to have my line of credit paid off in full by February 2012.