Sharing a house is a lot of fun, but there comes a day when you’ll most likely want to go it alone. But that doesn’t mean you want your solo living choice to drain your bank account.
Here’s a few ways make solo living work and still have enough cash for the things you love to do.
7 ways to save on rent
1. Be a professional house sitter
If you’re keen on living alone but don’t want to fork out for an expensive apartment all to yourself, then consider house sitting.
There are plenty of reputable house sitting websites you can apply for and once you’ve signed up you can house-hop and not have to pay rent for months at a time. You may have to take care of pets and do some light house maintenance but it’s an excellent way to save money and experience living in a variety of different places.
2. Rent a studio
Studio apartments generally have a kitchen, lounge room and bedroom in a single room.
Whilst some couples may be able live in studio apartments, they are generally designed for one person to occupy them. The great thing about studios is that the rent is the cheapest you’ll find for a dwelling that suits a single occupant (one bedroom apartments are usually much pricier) and studio apartments are often located in central areas which means you get to live in a trendy location without paying the hefty rent that usually goes along with it.
Studio apartments are often located in central areas which means you get to live in a trendy location without paying hefty rent.
3. Commit to a longer lease
If you find the perfect little flat and you can see yourself living there for a while, it might be worth offering the landlord a 24 month lease for a reduced rate when you put in your application.
Finding committed renters is a huge time and money commitment for landlords so if they can get someone to commit to a full two year lease, they might be tempted to knock $10 off the weekly rent in order to secure the deal.
4. Wait it out
There are times of year when rents tend to increase and flats become harder to find.
The beginning of the year is often a difficult time because students are starting university and are often relocating to different cities so the rental market is usually in a frenzy from January to March.
If you have the choice, pick quieter times of the year to look for a flat. You’ll have more choice and if you’re the only person applying to live in a vacant apartment, you have lot more bargaining power than if you’re competing with a dozen other people.
If you have the choice, pick quieter times of the year to look for a flat. You’ll have more choice.
5. Live in the suburbs
Generally speaking, the further away from centre of the city you get, the cheaper the rents will be. Think about your lifestyle, travel habits and social life and choose a cost effective suburb that works for all facets of your life.
Don’t rule out suburbs you haven’t properly considered. With gentrification making some old hell holes in to hipster havens, and families moving out further to get a better lifestyle, you could be surprised to find people you’d like to meet in suburbs you haven’t yet considered.
6. Take advantage of free building perks
Don’t forget to factor in extra apartment perks as money savers. You can save cash on gym memberships by using the using the gym in your apartment building. Similarly you can save money on venue hire for your next party if your apartment building has a cool roof top terrace where you can hold your event.
An apartment with a car park is always a bonus so you don’t have to pay for permits or street parking and an apartment that’s near a discount supermarket could save you heaps on your weekly grocery bill.
If you aren’t that fussed on living in a new place with modern amenities, older flats are usually much cheaper and can be quite charming.
If you’re happy to live in a place with an overgrown garden and vintage bathrooms then you’ll be able to save heaps on your weekly rent by forgoing a few of the luxuries that come with renting a modern apartment.
originally published on realestate.com.au - click here to see more