I’ve almost always had roommates, and while some of them were great to be around, others were quite difficult. With some, we would cook dinner together or go out, but with others, we wouldn’t speak for months. Clearly, the former is pleasant, while the latter is not ideal.
When I moved to the UK in 2007, I ended up sharing a house with five other people. The landlord rented to anyone who could pay, so the housemates didn’t know each other, barely talked, and didn’t get along well. I was stuck in a six-month contract and couldn’t wait to move out.
Living alone was out of my budget and would delay my financial independence. So, when it was time to move, I chose a two-bedroom flat and shared it with my boyfriend and another couple. Surprisingly, it cost about the same as sharing that big house with six people, but it was a much nicer situation.
I could have lived alone or just with my boyfriend. But a one-bedroom flat was around $700, while the two-bedroom flat was $900. Splitting the cost between two couples meant we each paid $450 and enjoyed a bigger living room, a nice kitchen, and shared utilities and other household bills. Overall, we paid about $600 monthly, whereas living alone would have cost us $1000.
So, was saving $400 a month by having roommates worth it? For us, definitely. We were young, my boyfriend didn’t have a stable job, and I was just starting an entry-level position and wanted to save for a house deposit. Sharing the flat with another couple was a small sacrifice to save more quickly.
If you prefer living alone for your space or to work from home, you’re missing out on $400 a month or $4800 a year—tax-free. While some might find it worth the cost for the freedom it provides, for me, the trade-off was minimal to achieve my savings goal faster.