If you’re on the hunt for a new apartment, you might find yourself feeling stressed about the anticipated cost of monthly rent. Rent costs are at an all time high in many cities around the world, making it difficult for some people to afford a comfortable living situation. Whether you’re a college student or a high earning physician at a medical clinic like ThriveMD, there’s no denying that the rising cost of rent can be concerning. Saving money on rent each month can be difficult, but with a little planning, it is possible. Keep reading to learn a few ways to save money on monthly rent this year.
1. Find a Roommate
This might sound like common knowledge, but if you are living alone, you are likely paying way more than you would pay to live in a bigger apartment with a roommate. Living with another person can cut the cost of your monthly rent in half, even when upgrading to a bigger apartment. If you are able to find a friend or loved one to live with, doing so can be extremely cost effective. If you don’t have a friend or family member in need of a new housing situation, you can join groups on social media sites like Facebook that can help you find like minded individuals in your area looking for housing.
2. Look in the Off Season
What many people don’t realize is that searching for an apartment can cost more at certain times of year. For example, in the summer or early fall months when college students or recent graduates are likely to be searching for housing especially in major cities, the cost of securing an apartment as well as the monthly cost of rent is likely to be higher. If you are able to do so, searching for apartments in the winter time can help to save you a considerable amount of money.
3. Give Up Amenities You Don’t Need
Most apartments require residents to pay additional money each month for certain amenities, most commonly including parking or access to facilities like a gym. While these amenities can be helpful, consider whether or not you really need them and what other options are available to you. If you can cut down on the cost you are paying for amenities, you can save a lot of money each month on the total cost of your rent.