Deciding to move off-campus is a big decision that requires a lot of thought. While you may save money by moving off-campus, you are sacrificing the convenience of living right on campus. Before making such a big decision, you should analyze all the pros and cons to make sure the move is worth it.
When comparing room and board costs to the average monthly rent, people assume that living off-campus is significantly cheaper. Even though the base price of the rent may be cheaper, it is important to take into account your other costs of living. When living off-campus, there are a lot of extra costs besides rent that you must account for.
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While you can get lucky and move into a fully furnished apartment, most apartments come unfurnished. While you can choose to be minimal and only buy the most necessary pieces, the costs will still add up. Apart from furniture, most apartments do not include utilities in the overall rent price. So you have to take these other costs into account. Depending on how many roommates you have, utilities can get expensive.
Another large expense you have to account for when moving off campus is transportation. Since you no longer have the convenience of living right on campus, you will likely have to spend some money on transportation. If you live farther from campus and do not have a car, you either have to spend money on public transportation or ride-sharing apps. If you’re lucky enough to find an apartment that is still walking distance to campus, then more power to you. Otherwise, you may have to accommodate transportation costs into your budget if you decide to ditch the dorm life.
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Other than transportation, another large expense you have to take into account is food. Since you no longer have a meal plan, you have to spend money on groceries. Depending on what items you buy, the cost of food can add up quickly. They can add up even quicker if you decide to go out to eat instead of making your own meals at home. Either way, the cost of food is something you should take into account when deciding to move off-campus.
Sometimes it might seem cheaper to move off-campus, but the added expenses make it just as costly. You should calculate the cost-benefit analysis before making such a big decision. Sometimes the amount of money you can potentially save is not worth the convenience you are sacrificing. Before you decide to move off-campus, you should take into account all the other expenses that come with living in an apartment. Once you have a more accurate depiction of what the costs will add up to, you will be able to make a more informed decision.
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