Given that college and young professional life are tough even balancing acts, more and more people are opting for less stress and liability. Renting has long been the preferred option for people looking to live off campus. Today’s rental options are now designed to meet different budgets and you can typically save some money while enjoying a little more freedom. But what happens when one of your roommates misses rent, or has a change of heart mid-semester and your lease is a year long? Are you thinking about renting a room instead of an apartment? Here are some of the advantages and disadvantages of renting a room in a shared house.
Advantages to Renting a Room
- The most obvious advantage of renting a room instead of an entire flat is the fact that it costs much less. After all, you will only be paying rent for a single room instead of a larger property. This is why renting a room is often the best choice for students or single professionals who are on a budget.
- Renting a room also gives you the chance to live in an ideal location that you otherwise couldn’t afford. If a neighborhood is in a premier location, chances are the rent in that area is also high. Renting a single room lets you live in that area for a price that you can afford.
- Renting a room in a shared house is also more convenient since you don’t have to worry about the maintenance and repair of the entire property. At SRQDigs, everything is included, right down to the kitchen and cooking utensils.
- When you rent a room in a shared house, you also get the chance to build friendships with the other tenants. This can be beneficial to your social life especially if you’re new in the area.
- And last but not least, you’re not sharing in the liability of other’s decisions. If one of your roommates misses this month’s rent, you don’t need to scramble to cover their share. Same for damage, or any other liabilities that come with sharing a lease with others.