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