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Living Expenses

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Current Student
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Joined: 28 Jan 2009
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Location: Durham, NC
Schools: Fuqua '11
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Re: Living Expenses [#permalink] New post 01 Feb 2009, 12:28
Toubab wrote:
I live in Chapel Hill, NC, where the cost of living is just a little higher than out in Winston. (I'm going to Fuqua next year, so we're on sorta the same page!) Here's my projected breakdown:

Rent: $750 (I pay $300 now - wow! - and this is a high estimate in Durham. Will probably be more like $500)
Food: $200 (this is just groceries)
Petty cash: $400
Gas, misc: $200

Total: $1,550

This is a good deal higher than my current monthly expenses, but again, I'm being conservative. Multiply by nine months, and it's a bit below what Duke (and Wake) budget for you.

I'm also not planning on living alone in b-school.


Depending on choices, this estimate could be right on or a little low. I am planning to live alone, but plan to take an inexpensive apartment over by East Campus -- if someone wanted to live alone or in an expensive 2br in one of the popular buildings most JDs and MBAs stay in, you can easily hit $1000/mo. including utilities for rent.

The nice thing about Durham is that if you're going to splurge on housing, you can actually do quite a bit better than Station Nine/Lofts/etc. by actually taking a house. Lots of houses to the northwest of East Campus, roughly 1-1.5 miles from the b-school, for about $1000/month. I am down south of West Campus and renting a townhouse with my wife for $825/mo (utils not included).
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Re: Living Expenses [#permalink] New post 01 Feb 2009, 12:37
Skitalets wrote:
Depending on choices, this estimate could be right on or a little low. I am planning to live alone, but plan to take an inexpensive apartment over by East Campus -- if someone wanted to live alone or in an expensive 2br in one of the popular buildings most JDs and MBAs stay in, you can easily hit $1000/mo. including utilities for rent.

The nice thing about Durham is that if you're going to splurge on housing, you can actually do quite a bit better than Station Nine/Lofts/etc. by actually taking a house. Lots of houses to the northwest of East Campus, roughly 1-1.5 miles from the b-school, for about $1000/month. I am down south of West Campus and renting a townhouse with my wife for $825/mo (utils not included).


You chose Duke over Kellogg. Did Duke give you a huge scholarship?
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Re: Living Expenses [#permalink] New post 01 Feb 2009, 14:40
Skitalets wrote:
The nice thing about Durham is that if you're going to splurge on housing, you can actually do quite a bit better than Station Nine/Lofts/etc. by actually taking a house. Lots of houses to the northwest of East Campus, roughly 1-1.5 miles from the b-school, for about $1000/month. I am down south of West Campus and renting a townhouse with my wife for $825/mo (utils not included).


If I end up at Duke (which is a very likely) I'm gonna have to pick your brain about housing!

RF
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Joined: 28 Jan 2009
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Re: Living Expenses [#permalink] New post 01 Feb 2009, 20:09
BearStearner wrote:
You chose Duke over Kellogg. Did Duke give you a huge scholarship?


My decision was really all about fit, location, and intended post-MBA trajectory. I grew up in Illinois and went to high school near Chicago, but really preferred to stay down here and love the culture at Fuqua. I also think Duke's international focus is bested only by Wharton among top schools -- I have faith that will pay off down the road when I move into more senior positions with a significant international component.

Can't knock Kellogg, though -- if I'd never experienced the South, I would probably be going there. Have lots of friends there who love it, including one who snagged a great finance job in Japan (they're not all debating Wendy's ads there :-)
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Re: Living Expenses [#permalink] New post 02 Feb 2009, 08:27
Quick Question:

If one were to take a summer internship that is not by their school, what are the options for housing? Pay 2 rents? Sublet? Company sponsored housing? What is the most common path?
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Re: Living Expenses [#permalink] New post 02 Feb 2009, 08:31
terp26 wrote:
If one were to take a summer internship that is not by their school, what are the options for housing? Pay 2 rents? Sublet? Company sponsored housing? What is the most common path?


On top of compensation for summer employment, my employer arranges discounted company sponsored housing for all summer interns at local universities and etc. For example, tons of out of state summer interns stay at NYU dorms for 10 wks. I am sure you will be able to find such deals with your summer internship. However, it would be as if you were paying 2 rents....
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Re: Living Expenses [#permalink] New post 02 Feb 2009, 08:41
You will probably have to pay two rents. In NY, the banks and consulting firm will help you find a cheaper place and the internship salary will help pay for it. Don't expect to save much though, the salary will pay for you expenses (two rents, flights...) not much more.
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Re: Living Expenses [#permalink] New post 02 Feb 2009, 08:45
ninkorn wrote:
terp26 wrote:
If one were to take a summer internship that is not by their school, what are the options for housing? Pay 2 rents? Sublet? Company sponsored housing? What is the most common path?


On top of compensation for summer employment, my employer arranges discounted company sponsored housing for all summer interns at local universities and etc. For example, tons of out of state summer interns stay at NYU dorms for 10 wks. I am sure you will be able to find such deals with your summer internship. However, it would be as if you were paying 2 rents....


Unless you sublet your school apartment to a student from a different school with an internship in your school's city.
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Re: Living Expenses [#permalink] New post 02 Feb 2009, 17:00
terp26 wrote:
Quick Question:

If one were to take a summer internship that is not by their school, what are the options for housing? Pay 2 rents? Sublet? Company sponsored housing? What is the most common path?

several buildings have 10 month leases. one of the most popular buildings for boothers downtown has a 10 month lease deal.
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Re: Living Expenses [#permalink] New post 12 Feb 2009, 16:28
Depending on how much furniture you have, you may not want the hassle of moving things into storage and move back again three months later. It is more important to secure a 9-10 months lease in the second year so you are not paying for the summer months when you graduate in May.
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Re: Living Expenses [#permalink] New post 12 Feb 2009, 17:04
terp26 wrote:
Quick Question:

If one were to take a summer internship that is not by their school, what are the options for housing? Pay 2 rents? Sublet? Company sponsored housing? What is the most common path?


I've heard of some companies (esp in NYC) offering subsidized housing.

I've also heard from current students that they have:
- sublet it (pro: the rent gets at least partially paid, con: you have to possibly pack/move/store all your stuff for two months)
- pay two rents (pro: no hassle in moving stuff, con: you have to pay two rents meaning you may not earn v much from your internship)
- get just a ten month lease (pro: don't have to worry about the two rent thing, con: if you're in the same city as your school it could end up being more $)

From my discussions with them, option 2 seems the most popular...
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Re: Living Expenses [#permalink] New post 03 Jun 2012, 20:33
Hi All,

I am just a little curious about one thing (fogrive my ignorance)...but dont these unviersites provide hostel facilites as well?? I would certainly opt for an in-campus hostel than a place outside campus if such an option exists.
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Re: Living Expenses [#permalink] New post 04 Jun 2012, 05:22
I think the estimates given by the business schools are sometimes too low.
For example, INSEAD in Singapore states that students spend about 600-800 euros per month for rent. This is true only if you live with someone else and share a flat with a minimum of 3-4 people. Otherwise, the average rental cost is 4000 dollars/month for a 2 bedroom flat on INSEAD's vicinity. Of course there are low cost appartments and suburbs, but you won't fin anything at less than 2000-2500 dollars/month anyway.
Before joining, I spent some time on Singapore's forums. An average estimated cost for a family without childrem was around 50000 for 1 year (with reasonable spending habits, of course).
Chatea and chalet-type accomodation in France are more affordable, but again, not 600 euros per person =)
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Re: Living Expenses [#permalink] New post 01 Aug 2012, 23:16
Somethings that most people ignore are the networking events, the global learning/ immersion programs, interview meets, club fees etc. They dont usually mention all this in your budget and they may not be mandatory. But if your intention is to make the most out of your MBA experience then these expenses cannot be spared. I would imagine adding another 15-20K over above the Tuition and Monthly expenses would get you close to the proper estimate of your MBA cost.

I would think the best people to ask are those who have completed their course. If they could fill in on some of the details, it could help immensely.
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Re: Living Expenses [#permalink] New post 02 Aug 2012, 08:43
auman wrote:
Hi All,

I am just a little curious about one thing (fogrive my ignorance)...but dont these unviersites provide hostel facilites as well?? I would certainly opt for an in-campus hostel than a place outside campus if such an option exists.


Sorry this is a super belated reply, but most Universities have very limited on campus housing for graduate school students. Such housing is reserved for undergraduates, and in particular incoming freshmen. Grad students generally have to live off campus as a result. Among the schools that do have on campus housing for grad students, they are often better accommodations than a typical residence hall and are often apartments.
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Re: Living Expenses [#permalink] New post 28 Aug 2012, 20:14
novanative wrote:
auman wrote:
Hi All,

I am just a little curious about one thing (fogrive my ignorance)...but dont these unviersites provide hostel facilites as well?? I would certainly opt for an in-campus hostel than a place outside campus if such an option exists.


Sorry this is a super belated reply, but most Universities have very limited on campus housing for graduate school students. Such housing is reserved for undergraduates, and in particular incoming freshmen. Grad students generally have to live off campus as a result. Among the schools that do have on campus housing for grad students, they are often better accommodations than a typical residence hall and are often apartments.


How can I find out more about my housing options here?
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Re: Living Expenses [#permalink] New post 29 Aug 2012, 03:59
brink44 wrote:
novanative wrote:
auman wrote:
Hi All,

I am just a little curious about one thing (fogrive my ignorance)...but dont these unviersites provide hostel facilites as well?? I would certainly opt for an in-campus hostel than a place outside campus if such an option exists.


Sorry this is a super belated reply, but most Universities have very limited on campus housing for graduate school students. Such housing is reserved for undergraduates, and in particular incoming freshmen. Grad students generally have to live off campus as a result. Among the schools that do have on campus housing for grad students, they are often better accommodations than a typical residence hall and are often apartments.


How can I find out more about my housing options here?


Check with your university's student affairs office or office of residence life which handles dorms. There are usually a good number of undergrads who want to live off campus and you can learn more options that way as well.
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Re: Living Expenses [#permalink] New post 19 Sep 2012, 00:41
Quick one on Singapore - unless you share with at least 2 others or are given some subsidized housing by your school, be prepared to spend SGD1k/mo or so at the minimum.
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Re: Living Expenses [#permalink] New post 20 Nov 2012, 23:11
San Francisco is insanely expensive.

If you want to live alone, I guess you won't be able to find a studio for less than $1500 + you need to buy furniture in 90% of the cases. Other expenses may vary on your needs but generally you will spend from $30 - $50 a day based on the place you eat. Car is not so necessary if you live and study in the city. If you want to live in the Valley, keep in mind that the gas here is more expensive than anywhere else in the US.

To sum up, if you want to live alone you will probably need in the best possible scenario $2700/mo, but it will probably go up to $3000-$3500. But, since it is a really nice place to live, I guess it is worth it :)
Re: Living Expenses   [#permalink] 20 Nov 2012, 23:11
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