Methods To Lower Down 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.
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 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.
There are a lot of people that are placed in a critical point when it comes to money especially if they are needed to pay one thousand dollars of monthly rent, this will make them avoid handling their personal finances properly.
If you do not have the right amount of money to handle the monthly rent for your housing, then below are ways on how you can solve your problem.
Methods on how to lower housing costs.
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.
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 consider doing a screening on a potential roommate, and the best place to find one is with your family and friends. That is because you will be sharing your place with that person.
2. Reduce the 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. Live in the suburbs or country
There is a very big difference in the cost of living between the suburb and a big 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. 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.