My rent recently got increased from $2050 to $2277.
This sucked because I did not want to move, but this change forced me to consider the option. After one weekend of apartment hunting, I had found an apartment that was slightly smaller, but brought me no real downside for $2050 with a $500 move in bonus and no water, sewer, and garbage costs. These costs were $80 per month at my old apartment.
Work I put in
To find the apartment I had to spend one weekend, and I assume I will have to spend another weekend moving my furniture. Therefore, I hope that the total time spend on this move will be less than 32 hours.
Money I will loose
Because I have an 9 day overlap between the two apartments, I will be paying 9/29*2050 = $636 for the overlap.
Additionally, I might lose my security deposit of $600. (This is a worst case scenario)
I will also have to spend money on moving supplies (boxes, etc.), which will be approximately $60, and I will have to rent a uhaul. This could cost another $150.
In the worst case scenario, I will therefore lose $1,350.
Money I win
(2277 – 2050)*12 + 500 + 12* 80 = ~$4200
Was it worth it?
My net profit will be ~$2,850 over the time of my 12 months lease.
This means my hourly wage for this is 2850/32 = ~$90/hr in Netto money.
This is the equivalent of ~$130/hr in brutto, considering a 30% tax rate.
This is waaay more than what I earn during my day job. Therefore, I am glad that I spend the time to move out of my current apartment.
Quest for Leveraged Income 