How to cut your housing costs by adding roommates

Hard times and tightening budgets are moving many to downsize their home life, an endeavor which may include adding a roommate to help share expenses and cut housing costs.

USA Today reports that many homeowners and even apartment renters are seeking housemates to help cover their shelter costs. For some, surrendering a bedroom to a boarder is a way to afford rising mortgage payments or cover costs after a job loss.

If you need to make room for a renter or returning family member, or are planning a move to a smaller home, you can ease the transition with a less-is-more approach using the following downsizing principles.