Ways On How To Lower 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 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.

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 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.

Ways on how to lower down housing expenses

1. Look for 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 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 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 of the fact that you will be sharing your living space with that particular person.

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 should consider looking for a place that is much smaller than the one that you currently have or even better, you can find a smaller place in an area that is low-cost. If it is possible, you might want to let your kids share a bedroom.

3. Live in the suburbs or country
The cost of living in the suburb is way cheaper as compared to the cost of living in the city. If you are renting some space to live in, then you can save a lot of money if you will move farther away from the city. Always take note that this will not be considered as a permanent solution, you will be doing this until you will be stability in your personal finance.