If you’re looking for a room for rent in Singapore, then obviously you are here new or moving your apartment. And if you're new it means you a student for study purposes or probably just for traveling. Both ways you need find out a room for rent in Singapore and that too within your budget. Singapore can be really expensive especially for those who come here from the south-east Asian countries. Apart from all this, living in Singapore is expensive anyway. So here are some extremely thorough tips that you can consider while looking up for a room and save up a small chunk of money and effort.

The first suggestion we have to save on the flat is to get different flats. Resale flats are much more expensive than other flats, for good reasons that you can get the keys quick. From our observation, opting for a new flat instead of getting a similar resale flat in the area could save you about 25%.

1. Take home pay & plan ahead

Your salary is not your take-home pay! Yes, you heard me right. Your salary is not your take-home pay. Once you know your monthly take-home pay which is excluding all things like taxes, health insurances etc. form your salary, you can pay exactly three times of salary for your house rent. Now why this calculation? Because planning ahead can help you save 25% compared to resale flats.

2. Choose a non-mature estate

Of course, you know it well too. Flats in non-mature estates cost less than those in mature estates. We all have expectations for our first house. We want it to be at a good location – preferably near an MRT station, a good primary school, and hawker centers. We dream that the house will be spacious and look like one of those in an IKEA booklet. We also want to get the house fast. However, when we balance these expectations against our budget, there are many practical constraints.

3. Flat-size

Choosing the right flat size for you or for your family can help you to save more. While you search for rooms for rent in Singapore, you need to research beforehand what would be the suitable flat size for you, and also according to your requirements.

4. Save on interest

Larger flats may result in higher interest payments due to higher loan amounts. A room for 4 requires about $250,000 of the loan and the monthly repayment becomes $1337. So, with the loan amount, your monthly payment amounts go down too.

5. Avoid overspending on the renovation

Go for loose furniture instead of built-in cabinets to reduce renovation costs. Don't think of painting your flat unless it is not in an unlivable situation. Don't go for new furniture either if you're not in dire need of them. Try to spend less on your utility bills. Do spend more on maintenance. Keep things clean, and airy, and you will see your consumer appliances will be more durable along with flat.

Content Source: https://travelaccommodation.travel.blog/2018/11/08/5-ways-to-save-when-rooms-for-rent-in-singapore/

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