Methods To Lower Down Housing Costs
A couple of online users have pointed out during a recent money discussion that their rent is half of the monthly income of one person.
This article is written by a person living in rural Ohio, and he always is shocked every time he will know how much money is needed by a person in order to pay for his or her rent.
In some places, the average of $550 per month on rent as well as payment for mortgage are considered not that high. A thousand dollar per month on rent would get a person a small mansion.
But because of the need to pay one thousand dollars or more on a monthly rent is really tough for most people, that will result to them having to avoid taking charge on their personal finances.
If you are in a situation where the cost of rent for your house is more than you can deal with, then below are five methods in order to bring it back down.
Ways on how to lower down housing expenses
1. Look for a roommate
A lot of people would consider having a roommate as one of the easiest method to save money on the rent for housing without having to do some big sacrifices.
If you really love the place that you are currently living in, then looking for a roommate is still a viable choice even if it is not that convenient. This is quite true especially if you have purchased a home and do not have chance to move to a much lower cost place like renters often do.
It is important that you should always consider doing a screening on a potential roommate, and the best place to find one is with your family and friends. That is because you will be sharing your place with that person.
2. Reduce the need for space
Barry Weir, which is the writer of this article, did this after he got divorced and it worked perfectly for him.
You should consider looking for a place that is much smaller than the one that you currently have or even better, you can find a smaller place in an area that is low-cost. If it is possible, you might want to let your kids share a bedroom.
3. Move to the country or suburbs
You will pay a lot less if you live in the suburb as compared to the budget you will need when you live in the big city. If you are one of those people that are renting a place to live, then you can save a lot of money if you will move farther away from the city. You should take note that this is not a permanent solution, you should consider this as something that is temporary until you will be financially stable.