Not Enough Money to Afford a House? Consider Some Low-Cost Alternatives

Who does not want to own a house of his own? Everyone nourishes that American dream. But what if you don’t have enough nest eggs to afford a new house or have earned loss on a recent sale? I guess you will be looking for some low-cost alternative housing options. Here are those for your consideration.

Earn from Extra Space

Do you already own a house? If yes, then a good option is to rent your house if it has extra space. This is a good way to successfully meet your financial obligations like mortgage payments. You may not like opening the doors to a stranger but after a few days, he/she will be just like a member of your family. Moreover, if it is rented to a good person, such arrangement works fine. Students studying abroad or new pass-outs scouting for jobs often look for such option as they need a low-cost living arrangement and don’t want a long lease.

Co-Ops

Co-ops are enjoying popularity. It’s a way to share maintenance expenses with your co-owners. This is an ideal option for those who want to enjoy house ownership rights but are not in a position to cover entire purchase expenses. However, whether co-ops will pay you dividend in terms of mental satisfaction depends much on the partner you will choose.

Tiny Houses

I have recently seen an advertisement that says anyone could have his own home spending only $10,000-$15,000. If you search on the internet, you will have several websites on architecture and sale of “tiny houses”. Most of these houses are innovatively designed, chic and make the best use of every square foot. These apartments offer spacious interiors. This ‘in trend’ option is gaining popularity as the intending house owners are now willing to live more simply.

RV Living

Many retired persons are frustrated at costly housing options and instead like to be in their leisure vehicles. However, this option is not for everyone. Only those retirees who have not lost their passion in adventure even at this age will find it an ideal option. It allows you to choose to go anywhere you want. In addition to initial investment on buying an RV as well as its regular maintenance, you will have to bear RV parking fees which are, however, not expensive. At some places, parking will be at free of cost! Won’t it be a great option to live rest of your life on road and pick up new experiences at anywhere you want to be at?

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