Trying to figure out if we should move. Husband pays rent. He is stuck on paying 2 rents for 2 months. I will pay for the deposit and application and holding fee. (I’m a full time student)
My husband and I are trying to decide what makes the most financial sense long-term and we're stuck. I know it’s a lot of money and yes he told me to post!
We've lived in our current apartment since 2019. It's a 700 sq ft 1 bed/1 bath and pretty outdated at this point. Our lease ends July 31, 2026.
If we stay at our current complex:
Upgraded 1 bed/1 bath: $1,875 + $100 water/sewer/trash = $1,975/month
Upgraded 2 bed/1 bath: $2,099 + $110 water/sewer/trash = $2,209/month
We found a remodeled apartment in a decent area that's:
2 bed / 2 bath
860 sq ft
$1,605 rent
About $80 water/sewer/trash + around $100 utilities
Around $1,785 total monthly
The issue is the lease starts May 30, so we'd have about 2 months of overlapping rent before our current lease ends. Our current rent is $1,600, so we'd be paying two rents temporarily.
I did some math and the overlap would cost us an extra \~$3,210 upfront (the new apartment rent for those two months), but after that the new place would actually be cheaper monthly than staying here.
We plan on staying wherever we go for 2–3 years while saving for a house.
Would you pay the overlap and move, or stay and avoid paying two rents? What would make the most sense financially?