Flatsharing VS Private Renting

Can’t decide between flatsharing or renting your own place? Choosing between the two can be extremely difficult as they both offer pros and cons. In this post we will uncover the why and why not for both of these options. At the end of the day, you have to choose the one that fits your likes, needs and budget.

Flatsharing

The upsides to living in a flatshare are obvious, living with another person reduces rental costs, and bills significantly. Roommates can also make your life significantly easier by sharing costs such as general living expenses and help to keep the place clean, a good roommate may also potentially become a close friend. The downside of having a roommate can be subtle or blatant, they may end up being messy or irresponsible, because of this it is essential that you need to be sure to find the right roommate. Take your time and interview potential roommates to find the right fit for your personality and financial position.

Private Renting

Living on your own also has inherent perks. Privately renting a home, condo or apartment gives you privacy and control over your own space. You will never have to worry about someone else’s mess or late bill payments.

On the other hand, not having a roommate leaves you with much larger bills to pay on your own. Living on your own also leaves you more susceptible to burglary because your place is left vacant more often. If you live on your own, you may want to consider tenants insurance to protect your financial well being in case of fire or theft.

Choosing to live on your own or with a roommate is a big decision. Weigh the pros and cons of your options. Do you like living on your own or do you prefer the security of living with other people?