Cheap Housing - or perhaps just frugal

Whether you call it cheap housing, low cost housing or frugal housing, it all adds up to the same thing - an excellent way to slash your cost of living. If you look at the average household budget in America, you'll see housing at the top of the list at around 30% of family income.

That's nearly double the amount associated with the two categories that consume the next highest percentages of take-home pay - transportation and savings/investment/retirement - both at about 16%.



So, if you can slash the cost of housing, you'll be taking a huge step towards reducing your cost of living. As an individual who is debt free, I can tell you without hesitation, that when you don't have to make a mortgage payment, your income goes much farther. And, you can choose to reduce the amount of time you spend working simply because you no longer have the mortgage hanging over your head.

I've been doing some research lately into homelessness. It's a tough thing to watch. Many individuals are facing it out of necessity. Some appear to be victims of the economy, while others are victims of their own poor decisions. In any event, when you can't make payments for housing, that puts you in a tough situation.

One of my readers asked about "housing" as a topic for discussion, and after giving it some thought, I decided to get some of my ideas out there with respect to cheap housing alternatives. Many of us simply follow in the footsteps of our family, but there are other alternatives that may be better for us in terms of our lifestyle as well as our budget.

Here are some of the cheap housing options that you may want to consider if you're hesitant to get into the real estate market, or you just need to direct a larger portion of your income elsewhere. In no particular order, here they are:

• Find a room to rent - this can be a win-win situation for an individual who is looking for cheap housing, with all the bells and whistles, and homeowners who would like to earn some money on the side. This is an especially attractive alternative if you'd like to live in a residential neighborhood and get out of the high density apartment lifestyle.

• Rent an efficiency apartment - the smaller you go, the less you'll likely have to pay. Efficiency apartments put everything into one living space, except for the bathroom, but they can be comfortable enough. This is an especially attractive form of cheap housing for singles and those who do quite a bit of traveling for a living.

• Live with roommates - with the right roommates, this can be a good alternative that allows you to rent (or buy) more house, yet pay out less each month than you normally would. The challenge here is getting together with individuals who can live under the same roof and coordinate their lifestyles and schedules harmoniously.

• Move in with family - a little less desirable in some respects, but it could be very similar to living with roommates. It seems that two siblings that are without family could live quite well together. As an alternative, a son or daughter could live at home to help elderly parents, especially if one were in failing health. Or, simply create an immediate or extended family living under one roof.

• An unimproved lot and a tiny house - something that is very different for many of us. You've probably seen these tiny homes that are around one hundred square feet, with a small sleeping loft above. It's a bit like living in a very large dollhouse, but if you're a minimalist, and you can spend much of your time outside or away from the house, these can provide a cheap housing alternative that is also mobile.

• Land with a simple cabin - an alternative for those of us with unimproved land and a desire to put some distance between us and our neighbors. Depending on how "distant" the land is, and what is allowed, there may be expenses like septic system, phone and power, and water that will add to the expenses. But, if you already have the land and a source of potable water, you're well on your way.
  
  
  
  
• Live on a boat - my experience doesn't include living on a boat for more than a few days at a time, but there are people who use a boat (and I don't mean a house boat) as their primary residence. A CEO of a former company of mine lived on a boat, and probably still does today.

• Modular home - an old standby and something that is popular by necessity here in Wyoming. They are relatively inexpensive, easy to move into place, and can be settled into a mobile home park or placed on your own unimproved land.

• Travel trailer - it's something that I've done out of necessity, but you might choose a travel trailer as a form of cheap housing that allows you to live on less. Read about my experience living in a travel trailer, and see if it appeals to you.

• Cooperative living arrangement - a cheap housing alternative that is closely related to having roommates. I can see this possibly as being a viable alternative for families that want to pool resources to help one another. Think of it as a smaller version of a commune. Such an arrangement could be conducive to homeschooling, saving money, and living a lifestyle that is much more simple and removed from the rat race that many of us know today.

• Living arrangements associated with work - think of an apartment superintendent who gets his/her apartment as part of the compensation package. Talk about cheap housing! How is it that you get less expensive than free?

• Small business living arrangement - in some cases, you may be able to incorporate your work life with your place of residence. The idea of a laundry service, restaurant and motel come to mind. Business is conducted on the ground floor while the owners live in the apartment directly above or adjacent to the office.

• Funeral home - saving the most unusual for last. The idea of living at a funeral home might give you the creeps, but it's almost as common as funeral homes. Being traditionally a family owned business, the "homes" on the upper level are sometimes available for rent - often at rock bottom prices. State laws often require the "home" to be occupied so the deceased are never left "unattended." This is a preventive measure to help deter necrophiliacs and their unusual proclivities. I've heard of some apartments above funeral homes being offered rent free. Certainly, this form of cheap housing isn't for everyone.

So, there you have it, a dozen ideas of how to create cheap housing for yourself. Any one of these ideas could be combined with others to create a unique solution to your need for housing that meets your budget. The key to success often lies in being creative and willing to think outside of that "box" we often place ourselves in.

I've lived in several forms of cheap housing, including forms that I haven't suggested here. I've also been homeless for more than a year, so in my mind, any form of cheap housing is often much better than any form of homelessness.

Good fortune to you as you attempt to whittle down the single largest part of a typical household budget - housing.

Done with Cheap Housing, take me Home