Is It Cheaper for Students to Rent an Apartment or Live on Campus?

Many students want to know whether they should live on campus or rent an apartment. They need to know where they can save money. It is difficult to tell anything accurately. Many factors can affect the total price, including transportation, college expenses, rental for 12 months, and much more. You need to sum up the entire amount and determine whether it is cheap to stay on or off-campus.

You can visit the website to find off-campus housing. Like this website, you can explore other online platforms to get an apartment or find any place on campus. In the following write-up, we will discuss various factors that can affect the cost of living on and off-campus. In the end, you can compare the rates and decide what to do. You can go for any option that looks suitable and affordable to you.

Off-Campus Housing Costs

Undoubtedly, you will find an apartment or hostel outside the college campus. You may look at ads and check the monthly rental costs and confirm the deal that looks suitable to you. Having your own house gives you freedom, and you can study there according to your timings. There are no regulations that you need to follow. Let us discuss off-campus housing costs that you must consider.

1. Rent for 12 Months

Before you rent an apartment, you have to pay the 12 months rent in advance. You have to sign the lease that you will be renting the property for a specific period. In that time, you cannot leave it and relocate to another place. You have to decide whether it is okay to pay the 12 months rent in advance or not. If you can afford it, then you can go for this deal.

2. Security Deposit

Many landlords may ask you to give a security deposit, i.e., equivalent to one month’s rent. In the beginning, you have to pay a massive amount, and you must be ready for it. You must have enough money to pay the security deposit and advance renting amount. The landlord will return the security deposit amount when you leave his apartment in a better condition. It is like giving an interest-free loan to your landlord.

3. Maintenance and Utilities

You have to spend additional money on utilities, like, gas, internet, pick-up, internet, etc. The expenses of utilities depend on the landlord whether he will include them or not. Some landlords maintain their apartments every year, and they do not charge anything. But in some cases, you have to take care of maintenance.

4. Meals

You have to buy meals for a day separately. In some cases, you can get homecooked food from the landlords if you buy an extra package. When you have to take a meal, you have to come back to the apartment and go back. It will consume your time. You can also rent a property which includes a kitchen, and you can prepare food yourself. But you have to spend money on groceries and other things.

5. Transportation

The property you rent may not be near your college. You require transportation to go to your university. If you own any vehicle, then you can drive yourself to your college, or you have to take public transport. You have to take care of insurance, parking, gas, and other expenses.

6. Roommate

You can share the apartment rent by allowing other students to stay with you. If you accommodate more students, then you can save a lot of money. But it is hard to share your space with others as you can feel uncomfortable.

On-Campus Housing Costs

Undoubtedly, it is a less expensive option than renting an apartment and living on campus. But decide immediately before considering the expenses included in it. Let us explore all the expenses in on-campus housing.

1. Housing Expense

Even if you live in a college dorm, you have to pay some amount. It is not free at all. It is possible to reduce your college fees by winning scholarships. The overall money you spend on your studies will be comparatively less.

2. Meals

You can get three meals in a day in on-campus housing by paying additional money with your college fees. But if you are unable to reach the cafeteria for the meal, it will get skipped, and you will not get any compensation. Even if you do not like the taste of the food, also you have to manage there.

3. Academic Schedules

If you do not want to stay in college dorms during holidays, you must find short-term housing. If you prefer long-term housing, then you will end up wasting a lot of money. It will be an expensive way to stay for studies.

What Option is Cheap?

Every person has a situation and budget. You can count all the expenses mentioned above regarding the on and off-campus. You need to sum up all the expenses and decide which one you can afford. Undoubtedly, living on campus is comparatively cheap, but you do not get enough freedom and facilities.

If you want to study in an independent atmosphere, then you must rent an apartment. But if you cannot afford much, then you should stay in the college dorm. The choice is yours. Take time before you take any decision. Make sure that you consider your budget before deciding anything.

The Bottom Line

Every year, many students are concerned about whether to choose on or off-campus housing. They look for the cheap and better option that makes them stay comfortably. They need a place where they can focus on their studies and do well.

But in the end, the budget is the only thing that one must consider. After going through all the costs, you can calculate the total amount you need to spend on your housing. As per your preference, you can choose anyone that looks suitable to you. Make sure that you consider the option that comes in your budget.