Save money on your rent
Lizzie Tyner | RSS | 7 Comments
Most people start off with a rental. There aren’t many who can just start off by buying their own first hope, so renting is the most popular option for those of us just starting out. There are a few ways to save money when you’re looking into renting a place of your own.
The first way that you can save some money when looking into a rental is trying to find a roommate. This is an option if you don’t want to live alone. Having a roommate that you can trust can cut your rent in half, as well as utilities. Some really great roommates even help pay for things like food.
In some areas, apartments can be rented by the bed space. This means that you have your own room, but you share a common space (like the kitchen and living room) with roommates. When I’ve seen this, it’s typically three other people sharing the space. This can save you a lot of money because in apartments that are rent by the bed space, the owners typically pay for things like water, electricity (up to a point), and cable. You have to be careful about these though because the process to getting a roommate is very similar to getting a roommate for a dorm room and the process can be a bit frustrating.
If you have your own method of transportation, your rent can be cheaper too. If you want to take public transportation everywhere you’ll likely have to live in an area closer to the city. The closer you live to that, the more expensive your rent will likely be.
Trendy locations often have the highest rent also. Just because it’s trendy doesn’t mean its safer or that it will have the best amenities. You can likely find something that is a little more quiet for a much more reasonable price. There, you might even be able to find a place with a washer and dryer…and parking!
If you’re really desperate for a cheaper place to live, look at some jobs that will house you for free. I once had a friend who was a live in nanny and she had her apartment paid for so that she could live near the house. I say, you have to be desperate because at any given time of day her bosses may call her to do something…even if she already had plans for the night.
One last thing is, be a little nosy with the neighbors. You might be paying more than the guy living next door. It happens quite often where one tenant will pay one price and another will pay something different. Just ask around and see how much other people are paying for their apartments and see if you can get a better deal if there is one to be had.
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Tags: dorm room, ways to save money, washer and dryer
Hiro from Swing Trading | Sun, Aug 02 2009
lol..I’d rather be hesitant to ask the neighbors how much money you’re paying for rent. Plus even if he/she happened to be paying a lower rate, it’s a bit too late since you’ve signed the contract. Now if you’re saying go out to the neighbors even before you move in, that’s pretty bold
john | Mon, Aug 03 2009
The last time I tried to save money on the rent it really made me annoyed..but now thanks to this post that I can manage my savings better on my rent.
Sue from Free Samples | Mon, Aug 03 2009
It’s not uncommon for different people in the same apt complex to pay different rents. People who have been there longer, for instance, tend to pay less because the rent increases aren’t as large for those that have been living there some time. Some apt complexes also charge more or less depending on whether you have an apt on the first floor as opposed to the third floor as well as other considerations.
Chris McClelland | Mon, Aug 03 2009
I agree it can sometimes be considered rude to ask a neighbor how much they are paying for rent. I guess people just assume that everyone is paying the same amount.
With one of the first apartments I had when I came to oxford five years ago, I got a discount because one of the property managers asked me to sign a form stating that I was low income(making less than $10,000 a year.) I signed the form because at the time I didn’t have a job because of the move.
A month later I had a job and was clearing $60,000 a year, but my rent was still the same at $305 a month. People that signed a new lease with the other property managers where not presented with this option and where paying $425-$475 a month.
When a flyer came around that rent was going up by $15 a month, I saw it and laughed it off, but my neighbor thought it was to much and we got started on talking about rent prices. That’s when we found out that we where being charged different amounts on the same apartment.
Smith from Pro2Pro Network | Mon, Aug 03 2009
I think you’ve made some good points, but I highly suggest staying “home” as long as possible. While living with mom and dad may not be anyone’s idea of an ideal situation, think about it. You can throw your money away on rent each month or you can live at home for 2 years to save for a down payment on a house, which is an actual investment. Obviously this won’t work for everyone, but consider it.
Mo from Bathurst Pubs | Fri, Aug 07 2009
I saved quite a lot on rent by allowing short term roommates – particularly backpackers in the summer staying for 2-4 weeks. In fact, it quite often paid the whole rent!
Pola from Cheap Coach Bags | Thu, Aug 13 2009
Location. location. location. If you don’t always go out more often, it’s better to choose the cheaper ones located not much farther. Often times you’d even have to compare transportation versus rent expenses.