We know that you have real estate goals. Unfortunately, you need money to put most of these goals in motion. Many people decide to rent while they save up for a down payment on a home, but renting costs money too! How can you live in Rego Park apartment rentals and build your bank account at the same time?
There are several things you can do to hoard some cash for a down payment while you rent. Interested? Here are four money-saving suggestions that will have your savings soaring in no time:
- Embrace roommate life.
Getting a roommate (or two) is probably the most effective way to save money on Rego Park apartment rentals. Let’s crunch the numbers: If your current apartment rent is $2,000 per month and you split this amount in half with a roommate, you’ll have an extra $1,000 per month to stash in the bank. That’s an impressive $12,000 per year!
- Downsize your space.
More space equals more rent. If your lease on your spacious two-bedroom apartment is coming to a close, it might be time to live the one-bedroom life while you’re in saving mode. According to Apartments.com, the average rent for a two-bedroom apartment in Flushing is $2,272 per month, while a one-bedroom comes in at $1,737. That’s more than a $500 difference!
- Refer a friend.
Do you have a reliable, trustworthy friend who is looking for an apartment in Rego Park? Find out if your landlord offers a referral incentive. If your friend becomes a model tenant, you might score a modest rent discount.
- Sign a longer lease.
Most landlords will tell you that filling vacancies in Rego Park apartment rentals is a pain. Most leases last one year, but if you are willing to settle in for at least 18 months, your landlord might knock a few dollars off your monthly rent.
Are you interested in learning more about how to save money on Rego Park apartment rentals? Contact us today for more tips and a list of budget-friendly options!