The cost of living alone versus the cost of sharing your space with a roommate can vary quite drastically. So, is having a roommate worth giving up some of your privacy? Check out our thoughts below and decide for yourself.
- You will generally pay more in rent without a roommate. Splitting the cost of a 2 or 3 bedroom apartment in most cases will cost you much less than living in a 1 bedroom on your own.
- The same goes for utilities. Your cable, internet, and electric bill may be reasonable, but will be much lower when splitting with roommates. However, if you do not have a roommate, you will also have more control over your utility bills.
- Furnishings are another cost to consider, especially if you plan on buying that new couch you have your eye on. Why not get a roommate and split the cost?
Living on your own without a roommate can be awesome too. So how can you prepare and offset the higher expenses?
- Create a budget and stick to it. Don't forget to include the cost associated with some things that may be included in your rent such as a gym membership or parking.
- Be realistic about what you can afford. Don't push the boundaries of your limit.
- Decide what is most important to you--having extra cash to hang out with friends, or having a luxury apartment in the perfect location?