Rents are rising, and the desperation and frustration in renters is palpable. After a long pandemic during which evictions were put on moratorium, landlords are ready to make changes. This puts a lot of folks into a strange situation, especially if they’re not happy with the amount of living space they have. What kind of options do you have as a renter? How do you deal with the cost of rising rent in your area?
Move to a Lower Cost of Living Area
During the pandemic, most companies in the nation lost the right to pretend that their jobs could not, indeed, be done remotely. So, if you’re living in a higher cost of living area in the US, and would like to live closer to family, or in a cheaper locale, you have good cause to present to your boss to continue to work remotely, if possible. Many areas have lower cost rentals, or even homes to purchase, than where you might live now. If so, research the cost of living in the area. Try not to drive it upwards for those already living there. What might seem like a great deal for you could be price gouging, so check with trusted locals!
Become a Homeowner
There are many benefits to building a custom home. There are many benefits to buying an established home. But overall there are a great deal of benefits to being a homeowner! Custom homes allow you to purchase land where you like, and then figure out what you individually need in your own space. This could include open floor plans, wider hallways, specialized medical equipment, or just that you like certain colors and specialized countertops. Established homes are quick to move into, but also might take more remodeling once you purchase.
Negotiate with your Landlord
Look, your Landlord doesn’t actually want you to move to a new location either. They might want more money, but they can lose money while searching for new tenants, remodeling to get the house ready for new people, and other things associated with cleaning and locating suitable tenants. So, if they will negotiate with you, It saves them time and money, and you time and money.
There are options for your rent rising problem! Try negotiations first. If you have been wanting to purchase a home, find a lower cost of living location. Keep your family housed while gaining equity!
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