In the United States, many tenants end up spending a chunk of their monthly salary in paying rents., However, it’s not wise to spend more than one-third of your monthly income on accommodation, even if you are trying to find one of the apartments for rent in an expensive US city., Here are five ways to live in a posh US locality without creating a dent in your wallet:
1. Find a Roommate
Even if you choose to stay in a large apartment, you can save a lot in terms of rent. How? Get a roommate. You can easily share the total rent along with the other utility bills while living in a larger apartment.
2. Consider Lease Negotiation
There is no hard and fast rule that you have to accept whatever is written on the rental listing. You can always have a word with the property management office before signing the final agreement. For example, you can request them to lower the rent a little. You can also ask if perks such as parking can be included without an exorbitant fee. You might be able to get a discounted rent if you sign a one-year lease instead of a six-month one.
3. Avoid Spending More Than 30 Percent of Your Income
It’s true that some US cities are pretty expensive and renters are left with no choice but to spend heavily on apartment rents. Surveys suggest that 3 out of 4 tenants in the US pay more than the recommended 30 percent of their paycheck on accommodation. Out of these, 42 percent are financially burdened as they are required to pay more than 50 percent of their income on rent. This is not the right thing to do because there are several other expenses of living in a big city. Therefore, try to keep your accommodation costs as low as possible.
4. Look for a Place with Extra Amenities
Your monthly electricity, gas and water bills add a lot to your expenses. Look for apartment listings that have these utilities incorporated in the rent. There are other things to consider such as a community fitness center, on-site laundry, swimming pool and social room which might be included in your monthly rent.
5. Invest in Energy-efficient Items
Investing in some energy-efficient goods will help you reduce your monthly energy costs to a considerable extent. Place low-flow shower equipment on shower heads or faucets and install power-saving LED bulbs instead of ordinary bulbs. You can also reduce seasonal utility consumption by shielding windows with plastic films, using insulated curtains and covering electrical outlets.
When looking for apartments for rent, a little planning will help you stay comfortably without burning a hole in your pocket. Choosing the right options will help you stay on budget without compromising comfort.