Now that spring term has kicked in, the topic of housing for next year seems to be a part of daily conversation. While the housing hunt may be a breeze for some, for others it is very stressful.
University senior Rochelle Riva Bargo, originally from Hong Kong and the Philippines, and a former high school exchange student in Portland, said, “I’ve lived off-campus since the third term of freshman year. It was hard for me at first because I didn’t know many people back then, and I didn’t have my parents to help me.”
A large contributor to this stress is often that the housing option you choose must not only be comfortable, but affordable. Trying to pay for a financially unrealistic option will be an unnecessary burden.
Budgeting your expenses makes the hunt — and your entire off-campus life — more manageable. Making a budget is not easy, particularly for students who are moving out of the dorms for the first time. But with a few guidelines, budgeting can be a less stressful chore.
Tip 1: Know your limits
How much rent are you able to pay per month, realistically? Discuss this with your parents. Will they be able to help you out, or will you need to pay for rent yourself? Try to pinpoint a maximum rent level to help you estimate a target rent, and narrow down your housing options. Remember that even though you may be able to pay, for example, $500 a month, it is always better to make your target rent lower, to maybe $400. You will have other expenses, and flexibility is important.
Tip 2: Consider all of your options, and know their conditions
Do your research. Look into all options you have, not only the apartments and houses you have already heard of. Often the best deals are the hardest to find. Be flexible.
“I knew I would be living with three other people, and originally we wanted a house, but there were just more expenses to consider. For example, the apartment we chose comes furnished, but a house would not,” said Cari Miranda, a University freshman from Idaho.
Once you have found potentials, know what is included and excluded in rent. What utilities are covered? Is the lease 12 months, or are shorter terms offered? Ask as many questions as you can think of.
Tip 3: Find roommates
Usually, this brings down costs. Plus, having roommates gives a great opportunity to make new friendships or strengthen existing ones. Roommates can support each other and can make agreements to chip in together on certain costs, such as furniture.
Tip 4: Estimate your costs for utilities
If your rent does not include all utilities, budget your costs for them. How much will electricity, gas, water, trash, sewage, cable and Internet cost?
Make sure you take into account the billing cycle for each one, and split the cost between you and your roommates. Ask people who currently live in the house or apartment to get an idea of the average costs. Research different companies you could receive these services from to compare prices and pick the best deal.
Tip 5: Estimate your costs for food and entertainment
Groceries are a must, so try to estimate how much money you need per week. See if you and your roommates can chip in on groceries you can share, especially if they are perishables that could easily go bad if you were to buy and consume them on your own.
“My roommate and I are planning to buy lots of Costco products and stock our apartment with food and supplies,” said Ashley Ehmig, a University sophomore from Tigard. “That way we won’t have to spend money on eating out.”
Entertainment, such as shopping and movies, are also large factors of your expenses. How much will it cost to do these activities, and how often do you plan to engage in them?
Tip 6: Evaluate those extra costs, and plan how you will cut down on them
If you have estimated high costs for utilities, food and entertainment, you should revise them. Some cost-reducing strategies include:
• Choosing energy-efficient light bulbs and turning off lights and appliances when they are not in use. (A trick that works for me is that I imagine a siren going off every time I leave a room with the lights left on. The imaginary sound is so annoying that it makes me turn off the lights.)
• Going out for meals and movies only a certain number of times a month. Whenever possible, find free events that you can attend. Many campus events are free and provide free food; one can also cook meals at home whenever possible, and always save leftovers.
“I like to make groceries last, and I always buy the cheaper generic brands whenever I can,” Miranda said. “A few dollars here and there will really add up.”
• Borrowing movies and having movie nights with your roommates and friends instead of going to the movie theaters
• Buying clothes and unnecessary items sparsely. Always look around for clearance sales, and if you shop online, most stores offer free shipping once in a while. Take advantage of good deals, but remember to only buy items that will actually be used.
• Eliminating unnecessary costs
“I don’t watch a lot of television, so I will not be having cable,” Miranda said. Watch shows online on Hulu and Netflix instead.
• Adjusting your costs accordingly
“I spend less on personal expenses when I’m expecting to pay more for utilities during specific times of the year — for example during the winter — because I need to pay for heating,” Bargo said.
Tip 7: Find additional ways to compensate your budgeted expenses, particularly through a job
Jobs provide income, which can go toward paying rent and other expenses.
“I try to keep my two jobs and work between 12-15 hours per week no matter how busy my class schedule is,” Bargo said.
Jobs are a great way to develop your time management, people, technology and communication skills. They build resumes, and teach you how to take care of yourself. If you can only spare a few hours every day, look for jobs on campus or close to where you live.
“I knew that I would have to pay my way through college near the beginning of high school. I started saving up my money by working during the school year and summertime and not spending any of it,” Ehmig said. “Balancing my job and school was a little tough at first, but I’ve gotten used to the busy days. It’s all about being
on top of your game and not slacking in school. I don’t spend a lot of my spare time with friends (because I spend it on) studying and catching up with schoolwork.”
Budgeting can be time-consuming, but be patient. It will be worth it in the long run. Budget with a friend, roommate or parent to make the task less of a chore.
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