Lisa Corr, Olde Town Realty | Haverhill, MA Real Estate


Renting a studio apartment is a great way to save for a down payment on a new house. Studio apartment living has additional benefits that you might want to take advantage of. But, first you may have to get accustomed to living in a smaller space.

Making the shift

If you’re transitioning from living in a college dorm to a studio apartment, the size adjustment should be simple. In fact, you may hardly notice the change. Moving into a studio apartment from a full size house is another story.

The average size of a studio apartment depends on where the apartment is located. In New York, the average size of a studio apartment is about 550 square feet. In Chicago, a studio apartment runs between 400 to 500 square feet. A studio apartment can be less than 400 square feet in other cities. Location also has a significant impact on the monthly rent that you’d pay for a studio apartment.

Ways that you can save by living in a studio apartment

Using New York as an example, you could pay more than $2,300 for a 550 square foot studio apartment in a hot spot like Manhattan. Shop around. Don’t assume that because the unit is small that the rent will also be small. Wherever you rent, you should pay less than you would pay for a standard one or two bedroom apartment.

Although a studio apartment is small, there’s enough room to fit a sofa bed, one tall dresser, a television stand and a television and a stereo. The apartment probably won’t have a kitchen. Pay attention to the layout. You’ll get more for your money if the layout is completely open except for the bathroom. More ways to save while renting a studio apartment include:

  • Buy food that doesn’t require cooking.Fortunately, a lot of healthy foods do not have to be cooked, so this could motivate you to develop a more healthy diet. Avoid eating out to save on food expenses.
  • Wear clothes that are a part of your current wardrobe. To save on space, you won’t be able to buy lots of clothes and shoes,another motive to save money for a down payment on a new house.
  • Get outdoors. Hang out with family and friends at great outdoor spots like free outdoor concerts, sports competitions and outdoor festivals and cultural events. Being outdoors can keep you from feeling like you’re confined to a small space.
  • Take advantage of living in a smaller space to focus on your career. You could use the time that you spend at your studio apartment, to start a business. Put a portion of these earnings toward your down payment.
  • Get exercise. Instead of taking the bus or train to work, if you live close enough, bike or walk to and from work. Deposit the money that you save on transportation toward your down payment.

Starting small could yield big results, especially as it relates to buying a house. If you rent a studio apartment at a reasonable price, you could use the money that you save on the difference in the rent versus what you would pay for a one or two bedroom apartment or a condo as a down payment on a new house. Rent a studio apartment and you could also adjust to living on your own for the first time, especially if you’re a recent high school or college graduate.


This Single-Family in Haverhill, MA recently sold for $325,888. This Victorian style home was sold by Lisa M. Corr - Olde Town Realty.


11 Summit Ave, Haverhill, MA 01830

Single-Family

$319,900
Price
$325,888
Sale Price

9
Rooms
4
Beds
1/1
Full/Half Baths
When you walk into this house you will feel the grandeur of this home. The front staircase is elegant. The marble statue in the front hall is a gift from the sellers. French doors lead into the formal living room with hardwood floors. The living room is quite large and also has hardwood woods. There is a smaller room off the hallway. Great use for an office, storage playroom, what ever your needs are. Large dinning room that leads out to the kitchen and half bath. Laundry is located in the 1st floor in the half bath. This house has double staircase. The gas grill is also a gift to the buyer. It is plumbed in to the deck with propane. So much more to see. Easy to show.

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It's easy to dream about the ideal house, harder to describe that home to a realtor. But, you've got to know the details that make up your dream home if you expect to find that perfect place. Identifying the details of your dream home may take a bit of work, but you don't have to do it alone. If you have a partner and children, definitely get their input. Work to ensure that everyone who's going to live in the house gets amenities and style elements that they want. Also, factor in your favorite colors, textures and personal aspirations when thinking about your dream home, including where the house is located. If you love surfing, swimming and fishing, a country home near the beach might be the right choice. Ask yourself questions to find out what you really want Do  you want to live in a small town, the type of place where traffic jams rarely, if ever, form? Is access to reliable public transportation important to you, especially if you prefer not to drive? Are older homes more to your liking than modern, contemporary houses? And what about arts and entertainment? How important is it for you to be near major sports and concert venues? You can gain clues about your dream home when you visit extended family and friends. You may love the open living room, dining room and kitchen concept at a friend's single family home. The round, marble tub at your grandparents' house might give you a warm feeling every time you soak in it. Don't rule out how carefree, courageous and happy you felt as you ran across the back lawn at your aunt and uncle's three story bungalow. After you narrow down the location, size and type of house that you want, start to create a wish list of amenities that you want your dream home to have. Sample items that you could add to your wish list include whether you want a front and back porch, small or large yards and whether you want a home office and, if so, how big do you want the home office to be. Other wish list items are window styles, how much street noise you'll tolerate, numbers and sizes of bedrooms, whether you want a finished basement and how many cars you want to fit in the driveway and garage. You may also want a dream home that's only a 10 minute drive to work. If you identify features that you want in your dream home before you consider how much you can afford to pay for a house, you might be surprised at your options. By focusing on features or amenities, you could also help your realtor to look for a house that fits your wish list instead of zoning in on a house based mainly on price. Stay open. Finding eight out of ten things that you want on your dream home list could prove to be very rewarding.


19 Lexington Ave, Haverhill, MA 01835

Single-Family

$329,900
Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Quiet tree lined street home in Bradford. Nice kitchen, fenced in yard, walk up attic which is semi finish, 3 bedrooms, 1 1/4 bath, 24 hour notice is needed.
Open House
No scheduled Open Houses

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The deck at your home is your outdoor oasis. It’s your place to party. It’s the place where guests gather. What can you do to ensure that your deck is ready for entertaining and comfortable enough for the whole family? We have some tips to help you through the sometimes tedious process of getting your outdoor space ready for entertaining. Buy Quality Outdoor Furniture The higher the quality of the outdoor furniture that you buy is, the longer it will last. Your outdoor furniture will look great and last more than one season when you make purchasing this furniture an investment. Create An Enclosure You can easily create a defined enclosure for a deck by using objects like large planters or ferns. If you stay away from boring lattice board, your deck will certainly be stylish! Also, you’ll create some natural privacy for your next outing on the deck. Don’t Fall Off The Edge If the edges of your deck aren’t clearly defined, you’ll definitely need to complete this task. Not having the edge of the deck defined with railings or planters is a safety hazard in the first place. Even a piece of cloth or drapery, hanging can help to define the edge of a deck. Just be sure that there’s railings on the other side of those cloth pieces to help keep everyone safe! Natural Transitions It’s important to create a natural sort of transition between your deck and your yard. The deck is an extension of the home, yet the beginning of your yard. Try creating a small garden near the end of the deck to make a clear transition into the yard area. A swing, statue, or a cute yard ornament can also do the trick for creating a transition in this case. Conversations Work Best In Circles The same principles that interior designers use in living rooms work when it comes to arranging outdoor seating. Putting your seating in a circle allows for all of your guests to feel included in a conversation when you’re hosting. This arrangement allows for an intimate gathering with guests. Cook Near The Action If you keep a grill on your deck, it’s a great idea to keep the grill near the action. This way, you can stay near your guests while you’re cooking without being pulled away from the fun or missing out on conversations that your friends are having. Light It Up One of the most important things you can do to improve your deck is that of placing lighting around the deck. Lighting allows you and your guests to use your deck into the night hours. Lighting is also an important safety feature for your deck. It’s important that deck lighting isn’t very bright though. You don’t want the entire neighborhood to be aware that you’re hanging out on your deck with a spotlight on you! These tips should help you to create a better deck and outdoor entertaining environment.



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