Money-Saving Tips for New Renters

Renting is a right of passage for many people, welcoming them into adulthood with the change and excitement that can only be found in temporary living.  Although it’s exciting to have a place of your …

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Written by: Pharrell

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Renting is a right of passage for many people, welcoming them into adulthood with the change and excitement that can only be found in temporary living.  Although it’s exciting to have a place of your own, it’s also incredibly expensive.  These are some of the top ways to save money while enjoying having a space to yourself.

Get Roommates

New renters never want to hear, but it’s always true that roommates can make any space far more affordable. First, try to save some money by seeking out others who are your age and have similar interests to you.  Although you don’t necessarily have to be friends with your roommates, having shared hobbies or interests makes it easier to get along and gives you a base to build a friendship off of possibly.  From here, work to pay the bills together and avoid overspending.

Avoid Running Your AC While You’re Out

One of the top spending areas for most people who rent is on their electricity bills.  Unfortunately, heating and cooling any space can cost between fifty to several hundred dollars a month.  This means that you’ll find yourself scrambling to cut down on costs, but it can be hard to do. So instead, try to minimize your electricity use by either turning off the AC when you leave for work or finding out if you can install a smart thermostat.  These units allow you to set your air conditioner and heater on timed schedules so that you don’t overuse them.

Negotiate Your Rent

Many landlords are flexible on the amount they’ll rent a place for.  Although most people don’t realize it, you can talk your way down to a better deal. This stands true whether you’re moving into an apartment or renewing your lease and looking at a rent increase.  Discuss what other apartments are charging, how much this is worth, and barter your good rental history or high income.  Although this doesn’t always work, when it does work, you could save hundreds per month.

Pick A Place Close to Public Transit

If you don’t own a car: get as close to public transit as you can.  Ubering or ordering Lyfts may seem low on price when you get them, but over time they add up. So instead, look for San Francisco apartments for rent close to the bus or train lines and save yourself from having to spend the extra money on transit.  In the long term, public transit is cheaper than buying a car and paying for insurance and gas every month: lean into the savings. 

Avoid Falling for Delivery Gimmicks

In modern times, it’s incredibly easy to get all of your food, groceries, and goods delivered to you ASAP.  Unfortunately, this can leave you overspending by a lot without realizing it.  Most grocery delivery apps up the price of every item and then charge you for delivery and tip.  Although most apartment dwellers use these perks to try and make a living in these areas a little nicer, they add expenses that are hard to ignore.

54 thoughts on “Money-Saving Tips for New Renters”

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