We should all be aware of how difficult it is for millennials to afford accommodation in this day and age. This is not just because of the fact that they have delved into the workforce during the worst financial crisis besides the Great Depression. There have been several research works that have proven that millennials are having it tougher than their parents on the topic of real estate. Renting is now common but it does not come cheap either. Here are some groundbreaking millennials that somehow make it work…
79% Of Income On Rent
The rent you have to pay for most apartments in New York City is $4,350. Yes, THAT much. Cities like San Francisco, college graduates now have to shell out 79% of their monthly salary just to have a roof over their precious heads. This tremendous rise in the price of rents has made millennials quite innovative so that they can avoid moving back home to their parents’ house.
Making It Work
You will see in this article that some millennials truly live by the saying ‘If life gives you lemons, make lemonade’. The millennials from big cities featured in this article have found a clever solution so as to do away with their housing crisis. Some of them even have to rent a box in a living room for $1,000 a month. Can you believe?
Living On A Sailboat
The Bay Area in Northern California has a long stretch of some of the most expensive apartments that comes with a scenic view of the shoreline. So what couls possibly cheaper than an apartment space on a place like this? Well, have you ever considered marina space? Sarah Patterson is a 24-year-old from the Bay Area, who decided that apartments just would not do….
She got to purchase her first ever dwelling space from the one and only, Craigslist. However this was not what she had in mind. She then decided to get herself a sailboat.It costed her $250 and $1,111 to dock it at the marina and some fees for living in it. In San Francisco, a decent apartment would go up to $3,000 so that’s how Patterson saves her money.
Living In A Shipping Container
Heather Steward and Luke Iseman had to give away $2,200 every month just to live in their San Francisco apartment. Since they stay in the Bay Area this great value was actually the norm so there was nothing they could do. You would not be able to find apartments that are not wildly expensive like this in cities such as New York and Boston. Or would you?
Not Another Tiny House
In the end their rent proved to be a little too much. So what did Stewart and Iseman decide on doing? Well they joined the tiny house movement like the other millennials on this list. Steward and Iseman were not one of those people who bough tiny homes. They actually went ahead and bought a shipping container and made it their home.