3 tips to move into a studio in the center of Luxembourg!

Rudolphe ABENRudolphe ABEN - NEXTIMMO.LU

Rudolphe ABEN

3 tips to move into a studio in the center of Luxembourg!

Are you starting a new phase in your life by attending a different school, moving out of state to find a job, or moving to be with your spouse? To avoid falling into the red, you need to practice careful financial management. Learn how to save money on everything from renting a studio apartment in the heart of Luxembourg City with these handy tips!

Preserve your purchasing power by planning for all your living expenses

If the rent in Luxembourg is too high for your monthly budget, you can always go hunting for a more reasonably priced place to live. Look for "empty" housing, i.e. rented without furniture, if you can afford it. These units are a more economical option than fully furnished apartments.

If you are looking for a studio apartment in the center of Luxembourg and are only interested in the cheapest rents, you may end up in a decades-old building. Reduce the amount of money you spend on heating by developing a few helpful routines, such as opening windows and doors at regular intervals to let in fresh air and closing them to conserve heat.

Be careful when choosing your home insurance

The landlord of your downtown Luxembourg studio will probably ask you for proof of insurance before you sign the lease. You should budget for this every month, again.

If you are renting in Luxembourg without the help of an agency, you should still take precautions to protect yourself from the most serious threats (water damage and fire, for example). Don't hesitate to shop around to find the best deal for this expense by comparing offers from different providers.

Think twice before buying if you need to protect expensive electronics and delicate furniture. If you want more protection in case something goes wrong, it may be worth spending a little more.

Now is the time to start saving for the future

You may be considering renting a small studio apartment in Luxembourg City today. In a few years, however, you'll almost certainly begin to consider your financial assets, such as the possibility of replacing your monthly rent payments with a mortgage payment that will actually put your money to good use.

Start cutting back immediately. If you have quick reflexes, make smart purchases, and minimize unnecessary waste, you can dramatically reduce your water and electric bills (buy used, resell excess, reuse unused items, etc.).

By doing this, you can save money each month that you don't spend. You can either put this money in a down payment on a house or use it as a down payment on a rental property in Luxembourg.