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CEOWORLD magazine - Latest - CEO Advisory - Worried Over Student Accommodation? Here are 5 Tips That Can Help

CEO Advisory

Worried Over Student Accommodation? Here are 5 Tips That Can Help

Student's modern bedroom

It does not matter where you are; accommodation can be a real pain in the neck for students. You have to factor in various considerations to ensure you get the right deal. Things become more complicated when you want to study outside your native place. Whether in a different city in your home country or abroad, finding the right place will need more than just money. You have to be strategic, smart, and patient because the task will test you in more ways than you can imagine.
What I will write here might help you in the right direction. To ensure that house-hunting does not wreck your mind and bank accounts, a few tips must be taken into account. Note all of them, and you should have a good plan.

  1. Decide how much you can spend
    Yes, we will have to start with the basics. The first thing you have to do is ascertain your budget. Unless you are sure how much you can ably spend on accommodation, you cannot move forward. Make a general estimate of the annual expenses and determine how much it will be feasible for you to spend on rent. This activity is essential to determine, for example, whether you should prefer on-campus over off-campus and the type of accommodation in the latter category. Hence, make a budget and then move ahead.

  2. On-campus accommodation
    The question is, when should one opt for on-campus accommodation? There can be many factors, but the primary ones include the non-availability of affordable and suitable housing nearby, the location of the campus, transportation costs, and low budget (on-campus accommodation can be more expensive than off-campus at times, too!). It is advised that on-campus accommodation should only be opted for if all the factors are combined; you will end up spending more on off-campus also, only when you are okay with restricted independence because you will most likely end up sharing spaces and be subject to institutional rules.

  3. The type of off-campus accommodation
    There are many types of off-campus accommodation you can avail of, subject to factors such as availability, location, and budget. Those who want to save a substantial chunk should go for dorms. However, if what you are looking for is an independent living, then consider flats as better alternatives. While you have the option to stay alone, it is always better to find a flatmate. Having a flatmate can cut down your overall expenses considerably. Other than these, you can also stay as a paying guest. Many countries, such as Japan, run this system where overseas students can stay with native families, with the latter being called the host families.

  4. Location of the accommodation
    Many students do not take the location of the accommodation seriously. In fact, your budget can be considerably affected by poorly located accommodation. Many countries have a good, cheap transportation network, but there are also those with not-so-cheap ones. In case your accommodation is far away from the campus, you will inevitably end up spending a good chunk on commute. Unless there is no other way, you should stick closer to the campus. If you stay far away, you should consider carpooling and public transportation to save money.

  5. Know your rights
    Before coming to the new place, make sure you have researched enough to apprise yourself of your rights. Every country has laws on leases etc, and there may be local variations. For example, in India, the capital New Delhi has its own local rules on rent and accommodation which often differ from those in other places in the country. Things you should ensure include a written contract, whether rent is as per local rules and regulations, and provision on deposits among others. You can get easily fooled unless you know how things go around legally in the place.

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CEOWORLD magazine - Latest - CEO Advisory - Worried Over Student Accommodation? Here are 5 Tips That Can Help
Sophie Ireland
Sophie is currently serving as a Senior Economist at CEOWORLD magazine's Global Unit. She started her career as a Young Professional at CEOWORLD magazine in 2010 and has since worked as an economist in three different regions, namely Latin America and the Caribbean, Africa, East Asia, and the Pacific. Her research interests primarily revolve around the topics of economic growth, labor policy, migration, inequality, and demographics. In her current role, she is responsible for monitoring macroeconomic conditions and working on subjects related to macroeconomics, fiscal policy, international trade, and finance. Prior to this, she worked with multiple local and global financial institutions, gaining extensive experience in the fields of economic research and financial analysis.


Follow her on Twitter, Facebook, Instagram, or connect on LinkedIn. Email her at sophie@ceoworld.biz.