| There are many ways to find cheap homes of all | | | | $250,000, but get only $500 monthly rent per unit. It |
| sorts. Sometimes, though, looking outside the | | | | would be cheaper to buy a little $160,000 house for |
| traditional homes can save you the most money. | | | | yourself. On the other hand, when we were in |
| Looking for a cheap home? You may want to | | | | Michigan a few years ago, good four-plexes brought |
| consider the options below. Keep in mind that they | | | | in enough income from three units to make living in |
| may be just temporary. Years ago I used my own | | | | the fourth almost free. |
| home as a boarding house, for example, in order to | | | | Living In An RV |
| quickly pay off the mortgage. On the other hand, | | | | This is an option many retirees are taking now. A |
| maybe you have no interest in living with others, or | | | | couple years ago we met several older couples who |
| building a home. That's okay - you may still find some | | | | lived in their recreational vehicles for free, by being |
| clues here as to how to save on your next home | | | | hosts at campgrounds. Their duties were few, and |
| anyhow. | | | | included checking in new arrivals a few times a day. |
| Building Your Own Home | | | | Another way to live in an RV is to buy a lot and park |
| There are several large companies that sell house | | | | it there. The idea here is that you can live cheaply (if |
| kits. These come with the complete plans and | | | | you buy a used RV) until you can finance the |
| materials delivered to your site. You could build it | | | | construction of your new home.In Arizona, the |
| yourself, but the general idea is to be your own | | | | Bureau of Land Management, or BLM now charges to |
| general contractor. You might get a nice house for | | | | park your RV on some public lands that were |
| 30% less this way. | | | | previously free. The upside is that the fee is only |
| Build In Stages | | | | around $100, you can now stay for six months, and |
| A friend of mine grew up in a basement as his father | | | | there are pump-out stations and water available. |
| slowly built the house overhead through the years. | | | | That's cheaper than property taxes! |
| Paying cash as you go to build your own home | | | | Buying A Motel |
| sounds like a way to save a lot of interest, certainly, | | | | Most small motels come with living quarters. Buy a |
| but it has it's problems too. In this case, it mean no | | | | motel and you get a home and a job all in one. Just |
| windows for years. The biggest problem now, is that | | | | be sure that the numbers work, and that you want |
| regulations won't allow you to do this in most towns. | | | | to work. |
| The idea has more merit if you don't take it to | | | | Houseboats |
| extremes, though. How about buying a smaller house | | | | In some areas of the south, you can see hundreds |
| that you can afford now, and adding on later? Be | | | | of houseboats in the larger lakes. There is the allure |
| sure that it is possible according to local codes. | | | | of living on the water, but there are also financial |
| Buying Land To Build On | | | | advantages. Used houseboats can cost much less |
| If you can't afford to buy a house where you want | | | | than houses on land, you can find places to park |
| to live, maybe you can buy a lot on payments while | | | | them cheap or free, and you don't pay property |
| you are renting or living elsewhere. If values are rising | | | | taxes. |
| rapidly, you'll quickly gain equity in your land, which will | | | | Even More Cheap Home Options |
| make it easier to obtain financing to build a home in | | | | There are still other possibilities for cheap homes, if |
| the future. | | | | you really want to live creatively. Buying a home with |
| Living In Your Rental Property | | | | an extra lot that can be split off and sold might save |
| Buying a duplex and living in one of the units has | | | | you thousands, for example. Then there are the |
| been popular for many decades now. Of course, the | | | | lifestyle options that are beyond the scope of this |
| idea is that the rent from the other unit lowers your | | | | article, like living in a school bus, converting office |
| net housing cost. This isn't always the case, though. | | | | space into living space, and building a log cabin in the |
| Look closely at the numbers. | | | | woods. |
| Some of the duplexes around here sell for over | | | | |