Rent nowadays is as high as ever, making it very difficult for many people to live the lives that they’ve always wanted to live. However, living in a luxury apartment is still possible. If you’re on a strict budget, there are some lower-cost affordable luxury apartment options out there if you know where to look.
Aside from that, here are some tips for how to afford a luxury apartment.
Save On Outings
One of the biggest expenses for young, single people is the cost of their social outings. This includes drinks, dinners and dates, as well as solo outings to local fast-food joints every other day. While it can be tempting to constantly eat out, especially if you’re not a very good cook, it does end up costing a lot more in the long run.
Therefore, it is advised that you minimise the amount of money you spend on takeouts. Also, put a strict budget in place for social outings and limit yourself to only spending so much on outings per month.
Choose A Good Location
A luxury apartment can cost you a lot more than just rent if it is located very far away from everything you need to get to. Fuel costs, whether you’re driving or taking public transport, are very high at the moment and form a large part of monthly expenses.
If you get an apartment in the inner city that is near to your place of work or, at the very least, near public transportation access, then you can lower your transportation costs considerably, thereby making room for the luxury apartment itself in your budget.
Create A Budget
Speaking of budgets, create one. Affording a luxury apartment is only possible if you have a strict budget that you respect and live by. With a strict budget, whereby you control in detail what money goes where, you can begin to plan with some reasonable degree of certainty how your money will be spent every month and can thus figure out how to live in a luxury apartment on a low budget. This will help you determine your priorities and to adjust your lifestyle accordingly when necessary.
Save On Energy
Wherever possible, cut back on your energy costs. Not only would you be doing your part for the environment, but you could make a significant impact on your budget at the end of every month.
Some ideas for how to save on energy might be to replace light bulbs with low-energy LED bulbs or to purchase a warm blanket rather than using a heater in winter. These are just some simple ways to reduce your energy use and save money.
You could also save on water by being strategic in how you flush the toilet or how you use dishwater. These small lifestyle adjustments could greatly impact your budget at the end of the month.
Contact us at Live Easy to find affordable luxury apartments in Johannesburg and Pretoria.