i had a question about renting... do people sublet their apartments over the summer? i plan to live with a roommate, and i would like to sublet over the summer if i am not there. however, i dont want to impose her with a new person if they don't get along very well... but i also dont want to be paying double rent if i have a job somewhere else (or if i'm bumming off my parents at home =D)
You will need to check with the people you are renting from...some places don't allow sublets...and in a college town it might be hard to find people to rent for the summer (and generally you will also need to worry about your belongings as well storage wise.)
For everyone saying it doesn't save you that much money, in the area Iam looking the absolute cheapest rent for a studio seems to be ~$600, with ~$750 for a 2 bedroom (which also had larger living spaces and a nicer set up.) I am just running the numbers, but generally, the electricity needed for 2 people and the heating needed for 2 people is not twice that of one person. So that would be an added economy. So, for us, we have 2 months off in the summer, so 10 months where we need a place to stay.
So, roughly $600 * 10 * 4 = 24,000 not including utilities and dealing with things like lousy neighbors (especially in apartment buildings....lousy neighbors can be as much of a problem as roommates.)
Or, 2 bedroom apartment or mortgage on house with a roommate = $750 * 1/2 * 10 * 4 = 15,000
Difference of nearly 10k (probably over that once you factor in utlities, internet, etc.) I have looked up to an hour out from campus (which I am not willing to commute that much) and the prices dont' seem to be varying by much ($50 for rentals, housing is cheaper.) Plus, from the sounds of it, many people will be taking out thier rent in loans with interest...which seems like over the life of the loan that could become a very expensive option. I could be 100% wrong...but 10k is a down payment on a house. I do realize that I look at things differently because I still don't think I will get any aid.
I just keep hearing that there isn't much financial difference, but to me, and maybe this is due to my dirt poor upbringing, 10k is significant. It is a personal decisions....but really do consider the reality of the numbers before dismissing them. It will vary from city to city.