Hi Jenn, Thanks for the thoughtful post. Glad to see you back on this project.
I am in more or less the conventional kind of housing - single-family house in a residential neighborhood. However, there are ways to make that option more affordable.
One option, as you mention, is picking a cheap location. What we paid for our house wouldn't make a down payment in some of the hotter real estate markets. Generally smaller towns, out of commuting range of the big cities are what you are looking at here. Another trick is to consider the houses that everybody else overlooks. Ours did not have any parking on the lot when we bought it, which pretty much made it inconceivable for anybody else in town. Older buildings and very small houses can fall into that category, too.
Once you are in a house or other living arrangement, there are lots of things you can do to save money. I believe in spending money while I have it, so I don't have to later. I drew up a spreadsheet analysis of our household expenses, and ordered them from greatest to least. Then, for each line, I tried to come up with at least one idea for how to reduce monthly/annual expenses. For electricity, it might be replacing all the light bulbs with LEDs. For water, it could be rainwater capture or greywater recycling. Insulation and weatherproofing are great for reducing fuel and/or electricity bills. I figure that if the resultant savings will pay for a project within ten years, it is definitely worth doing.
As you say, houses are generally money-losers, not money-makers. One of the advantages of having a relatively larger space, though, is that you can do more work there. Canning and other food processing can save a lot of money over buying the same things. Having tools handy to fix things helps to reduce purchases, too. A home can be a place to work and be productive, not just to sit and stare at the TV.
On a different note, a book I read at the library a while back recommended renting a storefront and living in it. You can run a business in the front, sleep in the back, and only pay one rent.
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timeasmymeasure
no subject
Date: 2021-12-06 02:35 am (UTC)Thanks for the thoughtful post. Glad to see you back on this project.
I am in more or less the conventional kind of housing - single-family house in a residential neighborhood. However, there are ways to make that option more affordable.
One option, as you mention, is picking a cheap location. What we paid for our house wouldn't make a down payment in some of the hotter real estate markets. Generally smaller towns, out of commuting range of the big cities are what you are looking at here. Another trick is to consider the houses that everybody else overlooks. Ours did not have any parking on the lot when we bought it, which pretty much made it inconceivable for anybody else in town. Older buildings and very small houses can fall into that category, too.
Once you are in a house or other living arrangement, there are lots of things you can do to save money. I believe in spending money while I have it, so I don't have to later. I drew up a spreadsheet analysis of our household expenses, and ordered them from greatest to least. Then, for each line, I tried to come up with at least one idea for how to reduce monthly/annual expenses. For electricity, it might be replacing all the light bulbs with LEDs. For water, it could be rainwater capture or greywater recycling. Insulation and weatherproofing are great for reducing fuel and/or electricity bills. I figure that if the resultant savings will pay for a project within ten years, it is definitely worth doing.
As you say, houses are generally money-losers, not money-makers. One of the advantages of having a relatively larger space, though, is that you can do more work there. Canning and other food processing can save a lot of money over buying the same things. Having tools handy to fix things helps to reduce purchases, too. A home can be a place to work and be productive, not just to sit and stare at the TV.
On a different note, a book I read at the library a while back recommended renting a storefront and living in it. You can run a business in the front, sleep in the back, and only pay one rent.