Ways On How To Lower Housing Costs
Some of the online users that were in a recent money forum online pointed out that the price of their rent is half 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 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 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.
Methods on how to lower housing costs.
1. Find 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 having a roommate is really not convenient, it is still a viable option especially if you really love the place where you are currently 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 consider doing a screening on a potential roommate, and the best place to find one is with your family and friends. You will be sharing your living space with this particular person after all.
2. Reduce 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 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 can have your children 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.