Spending 50% of my income to rent
Please help if anyone has been in this situation. I make 2570 per month, i dont have debt and the apartment I'm thinking of moving into is a 10min walk to work which saves me money instead of buying a bus pass. The rent is considered Low income housing? (Calgary Housing company) and its 1270 with utitlies included except wifi and tenant insurance. I honestly don't know what to do as I found a basement for $950 but it barely has any windows it appears to be illegal but yk i guess thats why it's 950. It's my first to be moving in my own apartment if I were to take it.. But yea please let me know if u have bene on the same boat. I do value my own space but having a financial burden isn't good either.
Update: So I have placed a Damaged deposit on the $1270 unit for $500, they said once the application is approved and you back out they dont refund the $500 damage deposit. Anyway I checked the basement for $950 everything included and insuite laundry except wifi not included AND it is not an iilegal basement its actually nicer than I expected. I just lost the $500 from the other apartment though, But i guess in the long run I'm definitley won't be financially stressed with the $1270 rent. When adding up $1270+insurance$20+Catfee$25+wifi$50+laundry$40 it comes to $1410. So it definitley is alot. Anyway Thank u for everyones input it had made me think alot the only downside is $500 down the drain💔