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 lives in rural Ohio and ever time he will hear about the amount of money that is needed by people in order to pay their rents, he is always shocked.
In some hometown, an average rent of $550 per month as well as mortgage payments are not that high. From a monthly rent of one thousand dollars, a person could get a small mansion.
The idea of paying one thousand dollars or more in a monthly rent will place a lot of people in a critical point regarding their money, and this will also prevent them from handling their personal finances the right way.
This article will provide five methods on how you can bring down the your finance problem if you are one of those people that could not handle the cost of rent for their houses.
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.
Even if it is not a really convenient choice, it is still very viable if you really love the place where you are living in. 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 make sure that you screen the possible roommates, the best place to find one is with the family and friends that you have. You will be sharing your living space with this particular person after all.
2. Reduce the 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 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. You might also want to consider to have your kids share rooms if that would be possible.
3. Transfer to the country or suburb
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. And you should not forget that this would not need to be a permanent solution, it would just be temporary until you will be financially stable.