Housing – My Most Valuable Advice
May 4, 2018
How To Lower The Housing Costs
Some people that were in a recent money discussion pointed out that the half amount of the monthly income of one person is the price of their rent.
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. 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.
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 to lower your costs for housing
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 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 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. Lower down 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 can always look for a smaller place than the one that you have or even better, you can find a small living space in a less expensive area. 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. 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.