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Ways On How To Lower 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 lives in rural Ohio and ever time he will hear about the amount of money that is needed by people in order to pay their rents, he is always shocked.

The average of $550 per month of mortgage payment and rent in some hometown is considered not that high. From a monthly rent of one thousand dollars, a person could get a small mansion.

But because of the need to pay one thousand dollars or more on a monthly rent is really tough for most people, that will result to them having to avoid taking charge on their personal finances.

If you do not have the right amount of money to handle the monthly rent for your housing, then below are ways on how you can solve your problem.

Ways to lower your costs for housing

1. Find a roommate
Many people consider getting a roommate as one of the simplest ways to save money on monthly rents without having to make some major 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 you will be sharing your place with that person.

2. Reduce the need for space
Barry Weir, the writer of this article, was forced to do this after he got divorced and it worked really perfect for him.

You should consider looking for a place that is much smaller than the one that you currently have or even better, you can find a smaller place in an area that is low-cost. You might also want to consider to have your kids share rooms if that would be possible.

3. Move to the country or suburbs
The cost of living in the suburb is way cheaper as compared to the cost of living in the 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.

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