How To Lower The 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.
The writer of this article is currently living in a rural area in Ohio and he always is shocked when he hears about the amount of money that are needed by people to pay their rents.
The average of $550 per month of mortgage payment and rent in some hometown is 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. Find a roommate
Many people consider getting a roommate as one of the simplest ways to save money on monthly rents without having to make some major 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 really true if you have purchased a home and do not get the luxury to move to a much lesser cost place like some renters 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 of the fact that you will be sharing your living space with that particular 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 might consider looking for a much smaller place than the one that you currently have, or even better, you can find a small living quarter in a less expensive area. If it is possible, you might want to let your kids share a bedroom.
3. Live in the suburbs or country
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 renting some space to live in, then you can save a lot of money if you will move farther away from the city. Always take note that this will not be considered as a permanent solution, you will be doing this until you will be stability in your personal finance.