It just doesn’t go away so we came up with a top 10 list of ways to reduce your housing expenses.
This list is not exhaustive and not every option is applicable to everyone. What else can you come up with?
10) House sitting: There are a number of websites (E.g. Aussie House Sitters, Trusted House Sitters and House Sit World)
It would be a challenge to make this work but it’s not impossible. It also may be particularly difficult to find a place near your work
9) Moving away:
You may save significantly moving to a new suburb, state or country as many other places are cheaper than Sydney. There are amazingly cheap houses around Australia if you are willing to be away from the city centres: http://www.news.com.au/finance/real-estate/where-are-australias-cheapest-houses/story-fndban6l-1226845542025
This would be an option for some with generous contacts. Have a think who has an extra room…
This has become popular – there are a few options e.g domain has a shared accommodation search see http://www.domain.com.au/?mode=share but there is also https://flatmates.com.au/
Such an arrangement may be possible where services as an au pair or live in carer is provided in exchange for accommodation and a salary
5) Renting out extra rooms: (e.g. AirBNB) or your parking spots (e.g. https://www.divvy.com.au/ or https://www.parkhound.com.au/ ) are options too.
This can help reduce costs if you’re a home owner and your place is located in a popular area
If you’re travelling, or your need for housing is more short term, “coachsurfing” is very common- see https://www.couchsurfing.org/.
In addition to being an au pair/live in carer, there are other ways to use your skills for cheaper housing. There are websites allowing you to score short term housing around the word by trading your skills (http://skillstay.com/)
2) Buy a house!
Perhaps you have a few thousand dollars and you’d like to buy a place outright. There are some very innovative ideas which may become available in the not too distant future including: shipping containers see http://thenewdaily.com.au/money/2013/11/28/shipping-containers-new-affordable-housing-2/ 3D printed houses http://mashable.com/2014/04/28/3d-printing-houses-china/ or small houses/containers http://www.nomadmicrohomes.com/. Who knows what they’ll come up with next?
1) Nanny flats:
These are available too which are well located and available for longer periods of time. See https://flatmates.com.au/granny-flats/sydney