Split the rent and Bills and save
Living by your self is expensive bills cost a fortune and rent cost even more. For the vast majority of students living alone in a one bedroom apartment or studio simply is not an option. The costs are just too high and as such students living away from the family home are forced to share accommodation. Some options available with shared accommodation are living on campus, living as a border in someone else’s flat or signing a lease for your own flat and then subletting the other rooms.
How does sharing save you money on rent?
Whatever your arrangement with accommodation you will find that by splitting the bills you will save a fortune. The way this works is you combine the “buying power” all people in the house to get a bigger place with more bedrooms so everyone’s individual costs are smaller.
What about the other bills?
Things like internet and home telephone are a fixed cost and will remain constant regardless how many people you have in the house. So natuarlly splitting the bill five ways is cheaper than footing the bill your self,
So how do I find a place to share?
Jump onto a website like Gumtree.com, there’s always plenty of rooms available and for different prices and some are not too bad. Don’t be afraid to shop around and find the right place, you will be living there after all so its best to choose the right place.
Other ways to Share?
You could decide to get your own place instead of subletting or sharing with other people. Signing a lease and then advertising for other people to lease from yourself is potentially a very lucrative way to keep your costs down and maybe get a better room in the process. Don’t rush into an arrangement like this as it can be a big risk as you might not get as much money in rent as you think.
The risk of signing a lease by yourself and subletting
The risk underestimation your costs or having an unrealistically high expectation of the rent you could receive is very serious. You might find yourself paying more than you otherwise would have if you where just leasing the one room. Its best to do the numbers in a Excel budget and make sure your not walking into a nightmare.
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