HOW TO: Rent and Save

With houses yet to be affordable to the average Joe, many families have no choice but to rent. On average, rental fees and other related expenses amount to about 35% of the family income. And that is huge and at times unavoidable unless you want to live with your family out in the cold.

With this knowledge in mind, it is good to empower yourself and adopt ways on how to minimize this expense as much as possible. Here are ways for you to do just that and avoid going beyond what rent expense is suppose to be.

Read the fine print

If you are moving to a new place or you are up for a renewal, read the details of your contract very well. This will let you know exactly what expenses are and what are not covered by the landlord. Try to negotiate for a better deal may it be a reduced price for taking a longer lease or ask if some utilities can be covered instead. Or request if you can get to use the facilities in your building for free such as the gym or the pool so that you need not grab and pay a membership somewhere else. This money saving tip is one of the most valuable.

Find a room mate

Consider finding someone who you can split the rent with as this will come down cheaper than renting a studio for yourself. Friends or relatives are the first persons to ask as they can refer you to their friends who may be wanting to save some money on rent expense too. Having a roommate also lets you save money on groceries as you can decide to split a membership on wholesale shops where basic goods come cheap in bulk. You also save money in cooking as you can cook for more than just one which comes down cheaper and often leave you with leftovers good enough for the next days.

Just make sure you legitimize an agreement should your roommate relationship sour in the long run. Talk about what is expected from each other to make everything clear as disagreements might make the situation meant to relieve financial stress be a source of other problems.For Rent

Decorate your home in the cheap. Challenge your creativity and find ways to make your home cozy and pretty without costing you a lot of money. Furniture and appliances will obviously take a large share so search for reliable shops and websites that can offer you these at discounted price. Also check out second hand shops or garage sales as they often have used but still reliable furniture that may only need a fresh coat of paint that you can actually do. Ask your friends and families for unused goods which they may have such as chairs, tables and throws.

Doing it yourself is a good way to achieve this by making your own decors by crocheting, taking photographs or other crafts. It will add a personal touch and character and let your home speak about you and your artistic talents.

Save energy

Keeping tabs on how you use energy and other utilities will of course keep your bills down. So saving on electricity by turning off lights when not in use, turn off the tap when you don’t need it running such as when you are brushing your teeth and install energy efficient lights around your house. There are many ways to conserve energy without compromising your lifestyle. Read up one energy saving tips online to have an idea.

Comments

  1. Billy says

    Funny you should have this article here now as I am thinking about getting someone in to rent a room in my house… I want to save some money for a trip and I thought it would be better to get someone else to pay for it…(I wouldn’t be able to afford it)

    I have started writing my list of things I can’t handle in a roomy so there won’t be any problems later.

  2. Anon says

    If I leave a comment please do not spam me..

    I failed to legitimize an agreement when getting a person to rent a room in my house. Boy am I sorry. The women turned out to be a nightmare and probably cost me more than the rent to have living there. She seemed like a lovely lady but she wasted water (which the user pays), used electric heaters, left lights on all over the house, used a dryer to dry her clothes when the sun was out…etc etc…
    Need I say more..

    Therefore when you said to legitimize an agreement.. I totally agree with you…People really do not care what you want or what you think…Be careful and make sure you set the rules first.

  3. says

    Being a renter is really tough right now where I live. There have been so many short sales and foreclosures that many people are forced to rent and there is hardly anything to choose from. Plus, rent have gone up. I do not envy anyone looking for a place to live right now.

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