Why People Are Opting To Flat Share

There could be a number of different explanations as to why people prefer to house share over renting an entire flat by themselves. With fewer first time buyers getting into the market whilst the economy is in a state of flux, sharing houses is a more popular solution than previously. One of the primary explanations as to why people prefer to flat share/house share is to reduce their cost of living. Sharing costs between flat mates/house mates can usually make them more affordable. Some things like rent and council tax can be decreased dramatically simply by choosing to live with others, since the cost can be shared between you, whilst other bills might actually increase, they will often do so proportionately to the number of people using the property.

There is one bill though that will not be reduced by increasing the number of people you live with, and that is your home insurance. Sharing occupancy of a house with people besides your own immediate family usually constitutes a non-standard insurance risk. This means that you could be required to pay extremely high monthly premiums for shared tenants insurance cover or you will not be given cover at all. This is not always the case although; a specialist non-standard insurance provider can give you a competitive online quote for shared home insurance, regardless of who you are sharing your property with. Knowing this leaves you free to concentrate on the other benefits of sharing your house with others.

If you work within the city but live full-time in the country or vice-versa, it is likely that the travel might be getting you down. Perhaps you have been posted to another office on a temporary basis and are choosing between staying in a hotel and taking the long train journey home, or maybe you are waiting for the right opportunity to buy and move, in either case there is a better way. Countless professional individuals are today searching for Monday to Friday rentals, which often turn out to be less expensive than a long commute and can be considerably less stressful. Several do it for the additional convenience alone, but there can also be more social/lifestyle benefits too.

Moving into a flat share/house share could be a means of improving your lifestyle, perhaps enabling you to take on a house that you would be unable to afford alone. This might imply either living in a more convenient/better location or having higher quality accommodation. The social aspect of house sharing/flat sharing is a big draw for many individuals, particularly when your work has led you to move to a city you aren’t familiar with. Having a flat mate doesn’t guarantee you a new best friend, however it will increase the chances of you discovering one. You may even benefit from your house mates/flat mates experience of the local area (should they have it) since, typically, most people who decide to house share/flat share are seeking to enhance their social life. In case you don’t like meeting new people or even making new mates, there is a fair chance that you won’t like flat sharing/house sharing either.

Sometimes people might decide to open up their house to tenants by leasing out rooms. This is often a means of making it easier to pay bills, or to subsidise an income for any other reason. The government operates a Rent-a-Room plan that allows home owners to earn a certain amount by letting out rooms in their home before they have to pay tax on the earnings.

Be Sociable, Share!
homeowners insurance quote