Methods To Lower Down 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.
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. A thousand dollar per month on rent would get a person 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. Find a roommate
One of the simplest way to save money considered by a lot of people on the rent for housing without have to do any big sacrifices is to look for a roommate.
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. 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. You might also want to consider to have your kids share rooms if that would be possible.
3. Transfer to the country or suburb
There is a very big difference in the cost of living between the suburb and a 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.