Understanding Affordability: Living Costs Vs Rent
By now, we all know the rule of thumb when it comes to determining how much rent you can afford; 30% should be the standard.
By now, we all know the rule of thumb when it comes to determining how much rent you can afford; 30% should be the standard. However, realistically there have been a few factors affecting affordability, making the 30% blanket statement slightly untrue and uncomfortable for a lot of city-living renters. However, you can still tailor your rental budget and living expenses to not be too heavy a burden when you understand affordability, budgeting and choosing the right accommodation. In this article, we will take you through how you can lower your rental living arrangement to afford city living.
First, Lower Your Logistics
To be able to make the most out of living in a flat, you will need to lower a few things. Unfortunately, you cannot negotiate a lower rental rate, so you will need to look at other avenues you can save on. Take transport for example; if you are moving to a flat in order to be close to work, how close can you get? Check the housing around your workplace or varsity if you are a student and see if you can afford it. Say you work at Parktown or Rosebank, which are the more office park-esque areas; you would want to live in Hillbrow or Newtown, where you can easily access transport from as little as R30 a day. If you are studying in Braamfontein, you may even indulge in a walk every now and then if you live in those suburbs. Johannesburg Housing Company has affordable flats to rent in those areas, which help many Jozi residents live their city life with ease.
We also have flats to rent in Jeppestown, Cosmo City, Troyeville, and Joubert Park, ensuring you never have to worry about access to taxi ranks, bus stations, the Gautrain, affordable e-hailing, and malls.
Then, Consider Local Buying and Eating
Johannesburg is rich with entrepreneurs as it is one of the most profitable business districts in the world. People come here from all parts of the world to grow their businesses and careers, making the ecosystem a solid functioning one. If you live in one of the suburbs of the city, you may be spoiled by vegetable and fruit stands all over, coffee shops and supermarkets at every corner, and meat? There are plenty of butcheries to choose from. Offering affordable prices, packages and promotions, as well as specials, they tend to be a favourite among the residents of the city. However, even franchise stores and restaurants seem to be well-received in cities, probably due to the affordability of other amenities giving people extra money to indulge. For example, Maboneng is known as the art side of Johannesburg, where you can treat yourself to amazing arts and crafts, restaurants as well as bars. The restaurants range in cuisine and offer flavours of the world. Maboneng is easy to get to from any part of Jozi, making it the weekend spot for many, and potentially you too.
Don’t Forget To Save
Saving can ideally help you pay for months of rent in advance to relieve yourself for a bit. When you are budgeting well and paying an affordable rental rate, you are most likely able to save money on a regular basis for anything you want; a car, rent, a holiday, clothes, schooling for your kid(s), and so much more. Another advantage of choosing to rent with Johannesburg Housing Company is that you are able to budget better due to affordable apartments to rent in Johannesburg CBD and surrounding areas. Challenge yourself to some financial goals and see what you can achieve.
At Johannesburg Housing Company, we know that people’s applications sometimes get hindered and disqualified due to certain processes, expectations and procedures. We have broken down what you need to qualify for a flat to rent with us below:
- Certified copy of original ID document or valid passport and permit
- Original or certified copy of latest payslip
- Original or certified copy of 3 months’ recent bank statements if you are employed
- Original or certified copy of 6 months’ recent bank statements if you are self-employed
- Certified copy of company or close corporation registration forms, if applicable
- Minimum salary of R10000
There are lots of buildings under the JHC umbrella to fulfil every accommodation need. Follow us on social media to see our buildings, suburbs, and why we love where we live.
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