5 Takeaways That I Learned About Housing

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 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. 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.

Methods on how to lower housing costs.

1. Look for 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 in fact true especially if you have bought a home and do not have the opportunity to move to a less expensive place like some renters do.
The best place to find a roommate is with your friends and family, and always make sure to consider screening any possible roommate. You will be sharing your living space with this particular person after all.

2. Reduce the space
The writer of this article, Barry Weir, was forced to do this after he got divorced and it gave him no problem at all.

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 renting some space to live in, then you can save a lot of money if you will move farther away from the city. And you should not forget that this would not need to be a permanent solution, it would just be temporary until you will be financially stable.