Staying with friends or family
The first alternative to renting an apartment is a marmite option, and may not be possible for some. For some, the idea of waking up to a parent or good friend cooking you breakfast and asking about your plans for the day sounds like heaven, but for others, sounds like hell on earth.
Although this is a potentially cheap option, there are many potential pitfalls involved; your privacy and ability to come and go as you please are bound to be impacted. Even worse, what if you overstay your welcome and start getting in the way of your loved ones? Staying with friends or family should only be considered as a short-term option!
Although difficult to come by, some jobs require you to be onsite all times and so give you a place to stay as part of the role. This can be an excellent alternative to renting an apartment, as you’ll either be paying no or heavily-reduced rents, allowing you to either collect savings or free up spare cash.
Positions that often come with housing include caretakers, hotel staff or live-in carers, or for something slightly different, house-sitting is a temporary option.
However, nothing comes for free. Remember that the role comes with the housing because you’ll be expected to be on call 24/7 - the housing is a necessity, not a perk. If you’re happy to devote every hour of the day to your work, then this could be a good option, but it’s not suited to everyone.
Flatshares come in all shapes and sizes and are by far the most popular alternative to renting an apartment by yourself. Different options include either renting a room as a lodger, splitting all costs in half with a roommate or going for a purpose-built flatshare.
The latter is by far the most straightforward option. By choosing to rent a room in a purpose-built shared apartment, you’ll be guaranteed a space suitable for more than one person (no more queuing up to share the bathroom!) and be renting from a specialist who knows precisely what it is you need to make your stay stress-free.
Extra added benefits of going down the purpose-built flatshare alternative to renting an apartment are that many of the rooms come with all bills included, so you don’t have to think about when the next bill is due.
Which alternative to renting an apartment is right for me?
Everyone has different reasons for looking at an alternative, and other solutions might be the perfect fit for them. At Ocasa Homes, we believe that the best solution is the most cost-effective, the one that gives you the time and freedom to pursue your lifestyle, and the one that gives you the option to socialise with your roommate on your terms.
Want to see how ready you are to rent your own property? Read our free guide on how to rent for the first time, and learn everything you need to do to prepare.