If you're looking to build community, save some money and make day-to-day home maintenance a little bit easier, sharing an apartment can offer plenty of pluses.
Whether it's living with roommates, family, a significant other or some combination of the three, most of us have experienced a shared living arrangement before. And for good reason. According to a 2021 study from Smart Asset, renters with roommates saved an average of $493 a month on rent across the 50 largest cities in the United States.
The Benefits of Sharing an Apartment with Others
If you're interested in the experience, living with others can provide plenty of perks. Here are three:
A Sense of Community
As people grapple with the impact of the pandemic on their social lives, creating a sense of community is more important than ever. Whether you're new to the city or just want to beat the loneliness of working from home, living with others is a great way to stay connected with the people around you.
More Affordable Housing Costs
Splitting utilities and rent can save you a lot of money. But there are other ways living with others can save you money, too. By splitting the cost of home furnishings, groceries and other household essentials, you can keep your expenses down.
Help Around the House
Another perk of living with others is the ability to divide up household chores. Plus, if you go out of town, your roommate might be able to water your plants, take care of your pet and collect your mail while you're gone.
If you're interested in exploring the option of living with others but don't have a roommate in mind, try checking out local roommate boards on social media sites or asking people in your network if they know anyone looking for a roommate. And if you are looking for a new roommate because you're relocating, don't forget to check out our blog post on moving to a new city.
To learn more about the renting process, including finding the right home and applying for a lease, visit My Home by Freddie Mac®.