When you think about the fact that you won’t have to pay property taxes, that the utilities bills will be lower, and your insurance is not as expensive as the homeowner’s ‒ renting a home sounds like a great idea. Nevertheless, you still have to spend tons of money on rent, which stops you from saving enough money for the home you could potentially own. To help you with that, there are few easy steps to follow if you want to lower your rent expenses and save some money.
Live with One or More Roommates
If you manage to find a roommate to live with, you’ll only pay half the money you would if you lived on your own. While living with another person can be challenging, it’s a good idea to find someone you already get along with. If that’s not an option for you, than you should try to adjust to a life with someone you don’t know, so you can save money for the future home you could own. What’s more, the living expenses won’t be as high, since you could probably agree on buying the cleaning supplies and other necessities together.
Help the Landlord
Many landlords offer their tenants lower rent, and sometimes even free living in exchange for job services. If you’re an IT expert, the landlord may ask you to maintain their website so you don’t have to pay the rent. You could also offer to shovel the snow and clean out the gutter to get the lower rent in return. Furthermore, landlords usually need someone who’s handy with tools, and knows his way around plumbing, electricity and construction, since clogging, black outs and roof leaks tend to be common problems. Therefore, if some of those are your expertise, you could be living rent-free if you volunteer to fix anything necessary.
Negotiate your rent
Make sure to do your research before you talk to a potential landlord. Knowing all the facts about the neighbourhood, the building, and the rent that other landlords set, is vital. This way you’ll be able to negotiate the fair price if the landlord insists on too high a rent. What’s more, be prepared to convince the property owner that you’re the best tenant he or she will ever have by handing out your bank statement copies and the referral letters from your previous landlords. If the potential landlord sees you as a trustworthy tenant, he or she may be willing to offer you a fair rent, knowing you’ll pay it on time every month.
Think Twice Before Moving In
Do not decide to rent a place impulsively. It is crucial that you think twice, and be sure whether you’re making the right decision. Ask yourself, “Will I be able to pay my rent on time”? Will you have to commute to work? Is this the right area for you? Does the landlord seem trustworthy? These are just some of the questions you should ask yourself, and consider the answers thoroughly.
Live with your Parents for a while
While you’re still limited to having just one room of personal space, living with parents has many benefits. You won’t have to pay the rent, which will help you save the money for your own home. You’ll always have home cooked meals, so you won’t have to worry about what you’ll eat that day if you don’t feel like preparing anything yourself.
Cutting down rent expenses has never been easier. If you find yourself a roommate to share the place and costs with, you’ll be saving tons of money on what you don’t have to pay for yourself. Offering your services to the landlord and negotiating a fair price are great ways to live without breaking the bank on the monthly rent. However, think twice before you start looking for your own place and see if you’ll be able to handle all the other costs on your own as well.