Is it cheaper to share a house?

Sharing a house is a great idea for some people because it saves some money.

However, it is essential to understand the pros and cons of shared accommodation first.

One big reason is that people decide to share a house because they save money not just on rent, but also money on bills, e.g., water, gas, and electricity. 

Even money on entertainment and communication bills is also shared. When you split the cost of a multi-bedroom property instead of living in a single-bedroom unit, you save up to 15,000 per year depending on the size of the home where you live.

For the majority of the people, the level of savings will change the decision whether to move into shared accommodation.

Since the cost of living in big cities like Adelaide is higher, you should share house in Adelaide. As tenants demand higher rents, shared housing is gaining popularity. The savings will be significant.

Ways of saving more by sharing a house

How much do renters save when they share accommodation inAdelaide? If you go into statistical details, then one can share around 150 to 200 dollars per week. In other cities, such as Perth, Darwin, or Hobart, they can save around 100 to 150 dollars per week.

In places like Canberra, the median rent for a one-bedroom unit is around 500 dollars per week. But saving does not come always without any sacrifice. Renters who opt for cost-saving by sharing may find that they are supposed to broaden their search. And they need to commute longer when they work or study in the heart of the city.

Experts say that across the big cities, one-bedroom rental units are more popular in the inner part of the city. They are also popular in high-density hubs or transport corridors. In geographically dispersed areas and suburban areas, big rental houses are more common. Since the rents are higher, flatmates in Adelaide save money by sharing flats.

The study and analysis by the Reserve Bank of Australia, reveal that that surging rental prices and historically low vacancy rates have resulted in a rise in the average number of people living in each dwelling. Also, the average size of households has increased in capital cities over recent years. It reflects tight rental market conditions.

Large numbers of renters are looking for houses closer to cities at lower rents. Sharing accommodationsis the best in this situation.