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Homes for Rent versus Apartments for College Students

If you’re a college student, then you’re probably living on a fixed budget. Either you’ve saved up some money from part-time work or summer jobs or your parents are helping out with the expenses. One of the biggest expenses that you’ll incur during the college years (besides tuition) is your rental expense. If you calculate that the average amount of time spent in college is four years (that’s not even counting graduate school), then you’re looking at some hefty rental expenses. One way to minimize rental expenses is living in homes for rent, an unusual but viable option for college living.

Why choose homes for rent?

Homes for rent provide the college student a real viable financial option to the usual apartment. In an apartment, you usually live with one or two roommates and split the bill. With today’s apartment prices hovering around $1000 - $1500 per month, depending upon the location, that means that you’ll end up spending about $500 - $750 per month (with one roommate). That’s a lot of money considering that most apartments are easily less than 1000 sq. feet, and probably with no balcony. That leaves little room for privacy, especially if your roommate wants to invite a few friends over to watch T.V. late at night.

Homes for rent, on the other hand, offer comparative rental prices. Most rental houses are not priced much higher than apartments, so if you split the bill with two roommates instead of just one, you’ll end up paying about the same or just a bit more. For example, if the monthly rent on a house is $2,100, and you split it three ways that means each person will only be spending $700 per month (not much different from an apartment).

Having that extra roommate in a rental house is much more realistic than in an apartment since most homes for rent are at least 1200 to 1500 sq. feet. That means you still have your privacy even with two other people. If your roommate is having a few friends over for some drinks, then he can take them outside to the backyard or even in the den for some privacy. You won’t be disturbed, unlike in a two-bedroom, 750 sq. feet apartment. You’ll be happier and so will your roommates.

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