Why Housing Aren’t As Bad As You Think

How To Lower The 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. 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 to lower your costs for housing

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 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.
The best place to find a roommate is with your friends and family, and always make sure to consider screening any possible roommate. That is because of the fact that you will be sharing your living space with that particular person.

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 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 can have your children 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. 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.