If you are like most people, the money that you pay for housing is your largest ongoing expense. Regardless of whether you rent or buy, a large portion of your paycheck most likely goes to paying for housing. Reducing this monthly expense can help you get a little bit more wiggle room in your budget. If you are looking for cheap housing in Lewisville, TX, the tips below should help.
One way to save money on housing is by avoiding properties that are located in the most desirable neighborhoods. That doesn’t mean that you have to go with the worst neighborhood in town. Instead, avoid trendy areas, opting for nice neighborhoods that are a little less popular. Usually, these areas have lower housing costs for both renters and buyers.
If at all possible, you should try to keep your housing costs at no more than 25% of your monthly income. If necessary, however, you can go as high as 30% without overburdening yourself. Use these figures to calculate how much you can afford to spend on rent or a mortgage payment each month. That will help you find a housing option that you can afford.
One of the best ways to save is by living with a roommate. Whether you rent an apartment with someone else or rent out part of your house to another person, being able to cut your housing expenses in half can save you a tremendous amount of money.
Another excellent way to find cheap housing in Lewisville, TX is to talk to people that you know. That includes your friends and family members as well as your coworkers. You never know when someone will have a lead on a great place to live that is opening up in the near future. This can help you get your foot in the door before the property is advertised.