This is a guest post by Jose Warren Sola
No matter where you live, your monthly apartment fees probably take the largest portion of your take-home pay. In addition, there are utility bills and other expenses that you have to consider as well. In a practical perspective, you want to lower the rental costs of your accommodation. However, with the tight economy, you are going to have little leverage in finding a cheap apartment that satisfies your needs. Nonetheless, you can always find a bargain. Prepare for your property search with the right strategies and you just might save some money on your next location.
Unless you live in a big city with a considerably high demand for apartments, like Manila, Antipolo, Davao, or Cebu, don’t bother involving an apartment broker. They will typically charge a commission fee that is usually a percent of the first year’s rent. Take advantage of the available range of apartment search tools and online property finding marketplaces to find a suitable accommodation match in just a few clicks.
Having a roommate or two is always a great way of saving money on your apartment rent. Take advantage of sites such as sublet.com, roommates.com and iBilik.ph, as well as social media listings to find perfect roommates. Sharing rental costs with roommates is way much cheaper than renting an apartment on your own.
Additionally, you can save more on your apartment rent by sharing food with your roommates. You can buy groceries in bulk and split the bill. You can also resort to cooking your meals together. Cooking in bulk is generally less expensive than making a meal at a time, or eating outside.
Choose a Location outside an Urban Area
Although apartments within the city center may seem convenient and flashy, it doesn’t make a lot of sense if you will struggle to pay rent. Checking for apartments in the city suburbs that are within a commutable distance to your workplace or school will help you save a lot of money when renting apartments. You can use online property search tools, such as zipmatch, rent.ph and rentpad.com.ph to speed up your hunt.
Negotiating is one vital tip many people shun. Before signing a lease, try to negotiate with your landlord. Sometimes, if you are willing to sign a considerably longer lease, your landlord may consider reducing your apartment monthly rent. This will help you cut down on the apartment expenses and secure your accommodation for a longer time.
Skip Luxurious Facilities
In picking apartments, avoid properties with luxurious facilities that you may not need, such as a swimming pool or a fitness gym. This eventually adds up to your monthly rent, since you will be charged for their use and maintenance. Be practical in choosing properties and only consider something that you can afford in the long run.
There are also apartments that cater to the high- end market. As you will notice, these properties have appliances and interiors that are costly to maintain. If you can live with just the basic amenities, why pay extra?
Embrace Any Saving Opportunity You Come Across In the Market
One great way to limit your apartment budget from skyrocketing is to pay close attention to special offers in the real estate market. You will never miss deals, incentives and waivers with the right online tools available today. Besides, paying cash over credit for certain rent-related transactions can lead to certain discounts and offers. Consider all of these as opportunities to reduce your rental costs.
Saving as much as possible when renting helps you reserve some cash for other move-in expenses. Unplanned purchases will often pop up out of the blue, especially when you are moving into bigger apartments. For instance, you will find yourself adding more furniture to the extra bedroom or buying more toiletries and supplies to fit the new bathroom. Such expenses will have a lesser bite on your budget if you can manage to save some money on your apartment rent.