Reply To: Living Upstate!

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#1091730
Chaim37
Participant

To rent a house can cost 1150+. However you will most likely will need to pay for water, heat and possibly grass/snow removal (or you can do this yourself). You can possibly negotiate this. Also there are not that many houses available to rent year round but there are a few I believe.

Heat cost can vary greatly. Will very much depend on the equipment in the house and pricing. When I rented in upstate I used around 800 gallons of oil a winter approx. When I purchased my house (in Woodridge) I am using approx 430 gallons of oil a winter season (which is considered very low compared to my neighbors, my sibling in Passaic used more than me where the temp is not as low in the winter) since the house was better insulated (I think) and the oil burner is very efficient and multiple zones with programmable thermostats). Cost will also depend on the price of oil/propane which goes up and down. Last year at this time oil cost 3.35 a gallon. Now around 2.45 a gallon. Big difference when purchasing oil in large quantities. Two years ago over $4.

You will also have to figure commuting costs into the equation. Insurance for a car is about 40%-50% less then the city.

If you are just renting renting at the end of the day it can be a wash (but you will live in a house) between the two. However if the goal is to purchase a house a year or two later it will be worth it. That is what I did.