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Keeping Down The Cost Of Renting

published on 17/01/2019  


So, you’ve decided that you are going to rent a property or you are looking to move to a new rental home. Renting can sometimes get expensive, but it doesn’t need to be and there are certainly things that you can do to keep your costs to a minimum.

We have put together some helpful tips on certain ways that you can save money when moving so that your dream rental property can become your new home.


Sharing:

Living alone is expensive, you are solely responsible for covering the full rent, all utility bills and money for furnishing your place all by yourself. Well why not get a roommate as a nice companion to come home to everyday, but also someone who can reduce the cost of many expenses! In addition to the monthly payments, roommates also help to reduce costs such as application fees and security deposits.


Be Smart About Your Price Range:

This is imperative when deciding on a new place to live, we all want that extra bedroom but four bedrooms for two people is probably not the best use of your money. When debating on how much to spend each month, the most important rule is to be honest with yourself on how much you can afford. Take a look at your income and map out what qualifies as an affordable home given your budget. In addition to the monthly rental rate and security deposit, it’s also important to factor in monthly expenses such as utilities, mobile phone contract, food and transportation costs. Once you have worked this out, set a price-range for how much you’re willing to spend on rent each month, and commit to not exceeding your limit. A spreadsheet of your income and potential spending is a great idea to work this all out and understand exactly where you are at.


Moving Your Belongings:

You’ve signed the lease, security deposit has been paid, and you’re ready to move in! Well, nearly. If you find yourself having to move your furniture and belongings from another location, think about your options before you throw money at hiring professional movers. Renting a van and moving your furniture yourself may be a much cheaper alternative. Another great idea if to cash in some favours with family/friends and ask them to help you out. Another modern-day option if you haven’t got a large amount to move is Uber, drivers will pick you up in larger vehicles and take your things to the new home


Furnishing Your Apartment:

New furniture is expensive and the cost of this can add up fast. However, if you devote a little extra time to searching, there are many ways to circumvent investing hundreds if not thousands of pounds on new items. How about putting the word out to people that you know through word-of-mouth, email and social media channels. Friends or even friends-of-friends will usually sell you their used furniture for a fraction of the original cost, if they’re trying to get rid of it themselves. Facebook and Gumtree are now fantastic ways to buy and sell, you can be assured to pick up some great bargains.

Tags: Renting, Costs