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Creative Solutions: How'd they do it?
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Alexandra Zabjek$ v- l7 B/ A8 n# |6 p$ T
The Edmonton Journal0 a9 r4 a- F* i+ B- d! F5 j8 \
0 Y/ b+ i/ i9 A5 p; r p% Y+ OSunday, May 20, 2007
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: h3 h8 H9 K. M) |! d) I+ @" @! LStudent apartments aren't typically luxurious places, but soaring rents in Edmonton are forcing some students to pare down their living arrangements even more than usual.9 d& P+ W" b" q4 n E$ Q2 B! o
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At Steve Li's one-bedroom apartment near NAIT, the living room is a bedroom for his roommate, Bill Chadwick." U9 L7 u! h' n6 l# K b
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Li and Chadwick, both students, split the $600 rent almost evenly -- Li gets the bedroom for $325 per month, while Chadwick pays $275 per month to put his bed in the living room.
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$ b( e1 X' q0 m"I receive approximately $700 per month (in grants) to go to school," says Chadwick, 32. "So when $275 comes into the picture, it works out quite well."# K k) s9 A# h+ ~
' Q8 {6 \% A, T' `- m% c- aAfter spending time couch-surfing with friends, Chadwick says having a "defined space" is great, even if it isn't a proper bedroom.& ^- E% |6 T. r7 H/ U) A, R1 r5 ?
! l- r: H* Q* ?/ \) nSharing a one-bedroom apartment is a common arrangement amongst Chinese students studying in Edmonton, says Li, who has been living in Canada for the past seven years. It's a big change for many of these students, he says.4 [8 \) M3 o& j( ]2 s
1 |) Q/ Q# Q7 q0 o; A1 _& Z7 p"The people who can afford to send their kids to Canada to study are quite rich," he says. "(Their) apartments in China are big."# b9 M z# c+ `, `7 t5 l) g
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Splitting the rent on a one-bedroom apartment, however, make things much easier for students with limited budgets.6 @8 X# g* o' f S/ s+ g) M
! j# e, e* C" g/ a+ p"I wouldn't say (it would be completely) unaffordable, but this way it's much more economical," he says.
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SOMEONE IN THE BASEMENT TO HELP PAY THE MORTGAGE
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When Caitlin Crawshaw and her girlfriend bought a bungalow in Bonnie Doon last summer, it wasn't just the location that sold them on the 1950s era house. It was also the basement suite.7 Y" x* ^6 K: ?1 L
* G/ e8 v X: _! x9 E! Z3 |"It wasn't originally part of our plan," Crawshaw says. "But as soon as we started looking at houses and seeing what the market was, we thought that maybe we should consider it."
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Their tenant pays $500 per month for the 750-square-foot suite. The money helps the couple pay down their mortgage more aggressively and provides a cushion in case either loses their job, says Crawshaw.
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The arrangement has worked out well, especially because the tenant was already living in the house when they moved in and has proved to be a "fantabulous" tenant who often spends time gardening in the yard or raking leaves, says Crawshaw, 25.
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The downside, however, is the lack of space. The couple and their two cats share about 750-square-feet on the upper floor of the house.
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"It would be nice to have more space and to have another bathroom," she says.3 q5 v7 u9 P, @
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"But it does work out quite well. I don't regret it. But I don't want to do it for more than five years -- I don't think that anyone does."/ B" ^* W! V9 r }: T+ G# q
© The Edmonton Journal 2007 |
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