Amazing Tricks To Get The Most Out Of Your Living On Rent

We bring you amazing Tricks To Get The Most Out Of Your Living On Rent so read and learn.

Most of us are living on rent in our early years of job and service and saving money for the dream house so while living on we can take some good steps to make living on rent profitable.


Living on rent

Living on rent is very awesome and dude trust me it is really very beneficial in your earlier period of job, small business and work as it basically helps you live under a roof and buys you time for the house you want yo buy and teaches you everything about budgeting.

So we suggest you to just love on rent until and unless you have good money income like zuckerberg and you're not settled live on rent. 


Living On Rent
living on rent

Well my friend if we say so we want to tell you that this is the general advice in the face of everything you’ve ever heard, so why do we say it?

As it makes very much sense in general all young people are told that they are ultimately wasting their hard earned money living on rent when they should be saving their money for building up some kind of home equity.

And, of course, they get a tax deduction for the interest and property taxes they are paying on their home.

Well, the last time we actually checked, interest and property taxes were regarded as the expenses. There is no pride and little sense for you as a very young adult starting out in the work force to have non-affordable expenses so you can deduct a small portion of that expense on your income tax. Wait until it makes some good financial sense for you.

To add a point in this, there are significant transaction costs in buying and selling a home so don’t forget the significant maintenance and repair costs that are needed to properly maintain your home.

On the practical side, purchasing a home when you’re in your twenties makes sense only if you have some kind of stability in your life. 

If you’re married and if you feel comfortable about the awesome long-term prospects of your job,and aren’t planning to move anytime in the next few years, then you might think about buying and owning a home. 

So we want to give emphasis on the point that living on rent gives you greater mobility and better chance of learning about house management.

However, most young adults need the flexibility and money to move when they are starting their careers. 

Very often than not, their careers cause them to move once or twice while they’re in their twenties. Brother selling your own valuable house takes time and money so just remember this before acting silly.

It doesn’t make sense to be held captive in your location and at your job because you have a home this is not a problem when you are living on rent.Thus, if you’re single and want flexibility in your lifestyle, rent instead of buying a home.

It will be easy for you to manage the aspects of financial and maintenance headaches that come with managing a home. Understand this, though: we are not advocating that you should never purchase a home. 

We are just telling you to wait until you can afford it and until it fits properly into your lifestyle.


Living on rent
Living on rent

When you’re looking for the best place for living on rent, you must make so many smart and intelligent decisions and so many trade offs.

Here are a few:

▪Look at the Size of rental (e.g., studio versus one bedroom)

▪Old versus new rent space

▪Apartment versus house selection

▪Distance to your work

▪City versus country versus suburbs

▪Roommate or not

▪Include some necessary utilities or not

How do you make your decision? Let’s face it: Cost is the overriding parameter here. My friend life is unpredictable and full of uncertainty but even if you think the richest man on earth plays it smartly when it comes to money.

The secondary main point will always be location.So, how do you figure out what you can afford? Use a basic rule: Budget 30 percent of your gross salary. This should allow you flexibility in managing the rest of your expenses.

If you really want to stretch, then you can go to 30 percent of your gross salary. However, if you do this, you will have to make other trade offs in your lifestyle.

You just can’t have it all. Let’s look at an example. Your gross salary is $58,000 a year. Thus, you should spend $22,000 a year(25 percent of your gross salary) on rent. 

This allows for $1,400 a month on rent. Obviously, the type of apartment/house you can rent will vary significantly depending on where you live.

Now my dear com padre if utilities are included in the rent, then you can afford a little bit more than $1,000 a month. In addition, if you can spend less than the $1,000 in rent, you should put the amount you save in a savings account for a future down payment on a house. 

As an example, when you are making around $50,000 a year, you need to spent only $600 a month in rent and saved the difference. Just keep this in your mind, there will always be trade offs in where you live.

Make sure you are finding the place for living on rent that suits both you and your budget best.


Living on rent
Living On Rent

Unfortunately, when you're living on rent some landlords look at the amount you give on the name of security deposit as part of the rent.

Most of the time a lot of people lose their healthy value of security deposit even though they’ve kept their apartments clean and in a very good shape. 

If the landlord won’t return your security deposit, you will have to sue him/her to get the money back. In all likelihood, the cost of doing so will result in you foregoing your deposit. 

If you haven’t paid your last month’s rent, the landlord will use the security deposit as the monthly rent. Then, he or she can look to see if any damage was done to the apartment. 

This does not mean you shouldn’t pay for damages you caused to the apartment. Now if there are any kind of legitimate damages to the apartment, either fix them yourself or pay the landlord the appropriate amount to fix them. 

Well when you guys use your security deposit as your last month’s rent, you are just protecting yourself against losing a significant amount of money, and you are just putting yourself in control of the process.

We have explained out that living on rent is not only beneficial for you but also a life learning process.

Awesome Benefits of Living on Rent

There are many amazing and awesome Benefits of living in a rented house as it helps saves you money and just work out a plan for having a good safe future.


1. Location Choice


The best benefits of living on rent is that you can go on a rent to house near by to your work location easily and that saves your energy, time and a lot of money.


Choosing a rent location near your work place is always easy as there are many options for and you can also share your rent space with other office colleagues.


Living on rent near office location saves a lot on fuel, time, Health and stress occurring out of it.


2. Neighborhood


In Case you are living in a big owned home and you don’t have friendly neighborhood(Troublesome), You can do nothing but you have to tolerate them just like in the case of the series of shameless.


But in case of rented homes, you do have the choice to locate to a better place easily.


3. Managing And Servicing


In case a Geyser/Fan.etc is needing any kind of repair work, you can depend on the Owner to do it for you under Maintenance. So as for the plumbing leakage, Tap changes, Water Problems, Electricity wiring problems.


Old Doors, Repainting. etc.


It all comes under the part offer of the owner and you don’t have to worry on spending a penny on it.


4. No Monthly High EMI’s


See living on rent saves you a good amount of money as in case you are committed on paying a hefty 45k EMI per month for owning your dream home, when you pay a fee on rental homes for 15k-20k/Month it isn’t a bad deal.


Paying hefty EMIs can be a very big problem if you have a shaky career and your money income stops in the middle and in case you are living on rent you can just shift to a low cost rented space but when you have to pay your EMI over a bank loan then there is no other choice and you have to sell your home.


5. Safety and Security.


There is a good safety and security in living at rent.


Once a friend used to live at a rented house and he left the house to go for vacation as the house was barged by thief, the thief was caught by the neighbors.


Usually when you are living in Rented home you have many other rental flats/floors in the same Building. Hence if you are out of town or you have a Child In home Alone, There would be someone around you as known person whom you can call on to inquire/look after.


6. The Good Neighbor.

When you are living on rent you also have other rent living guys and girls who are also working as you and who are very friendly and good in behavior so you can integrate your social life and make some good friends.


Hope our detailed view on living on rent helps you in making your own choice.

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