Ways On How To Lower 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.
In some places, the average of $550 per month on rent as well as payment for mortgage are considered not that high. From a monthly rent of one thousand dollars, a person could get 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. Getting 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.
The best place to find a roommate is with your friends and family, and always make sure to consider screening any possible roommate. That is because you will be sharing your place with that person.
2. Lower down the need for space
Barry Weir, the writer of this article, was forced to do this after he got divorced and it worked really perfect 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. You might also want to consider to have your kids share rooms if that would be possible.
3. Move to the country or suburbs
The cost of living in the suburb is way cheaper as compared to the cost of living in the city. You will be able to save a lot of money if you will move away from the city if you are one of those who are renting some space. 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.