Living in a costly city also comes with numerous problems, and one such issue is paying the rent for our stay. Many people have their hometowns in places outside the city, and they still come to the city to work. In that case, they have to pay the rent and stay in a place. In popular cities like Bangalore, rental costs are very high and they eat up a major chunk of the Salary. Not just in India, but the same happens in many countries. People also say that it is not affordable to purchase their own house.
Paying EMI instead of Rent
Another idea would be to pay the money to EMI instead of rent. Staying in a rented apartment can be a costly solution, but instead, they can buy a house and if the EMI is 50% less than the rental amount, then it is a win win. But it is very, very hard to find such an opportunity. In some places, the rental rates will be high, but purchasing a property may not be very costly. In places like that, this idea will work out.
Staying away from the City zone
Usually, the property cost will be very high if we live near the City or inside the City. If cab facilities are provided by the company, it would be wise to have our homes outside the City Zone where we will be able to get properties for a minimum rent which can be reasonable. The only thing that can be disturbing in this option would be traveling from the location to the office. If the company is providing cab facilities, then this shouldn't be a problem at all. I would even say that this will be the best option available.
Staying with friends and family
During the pandemic, many people found out how much money they could save if they stayed with friends or family instead of doing all the expenses alone. If we stay with the family, we will be able to share the expenses, and it is also not huge. Nowadays, people are looking for jobs that gives a permanent work-from-home option so that this becomes easier to implement.
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