When you’re trying to buy your own home, you can often find the process completely draining. Not only are you scrimping and saving to get there, but you may also feel like it’s never going to happen. However, that doesn’t have to be the case. You don’t have to spend your life thinking that you’ll never have your own home. If you’re finding the more traditional routes of homeownership hard, then why not think about doing it in a different way? There are lots of affordable options for owning your own home, including the ones below.
First up, you might want to think about looking into the idea of a Dollar Home. Now, these won’t be for everyone, but it could be a way to finally get your hands on your own home. Although there are many different programs for first time buyers, when you can afford the majority of them, a Dollar Home could work for you. There’s aren’t many that pop up and you have to make sure they’re what you want, but you can get affordable homes that have been foreclosed and made available to the FHA.
But you do also have the option to buy a home in a slightly different way. If you have access to some land, then you may want to think about going for a pre-made home. You have steel buildings like the ones Armstrong Steel produce to consider, alongside traditional wood options as well as self-assembly options or tiny homes that can fit within your budget. This way, you could save thousands on the cost of home ownership.
Or maybe you’d prefer to have a moveable home? If you love the idea of traveling around, it could be a great housing solution that fits both your lifestyle and your housing needs. It may not be for everyone, but you have the option of going for a trailer (and you can get some fancy ones), or even a houseboat. You may even want to consider a park home and keep it stationary in your hometown.
Then there’s also the option to build your own home. Again, this is often affordable if you have the land to build on in the first place, or if you’ve been offered a super cheap plot. When you build a home, you can often do it for a tens of thousands of dollars. So, if you’re able to get a super small mortgage, it could be a cost-effective way for you to own your own home. Plus, if the mortgage amount you’ve been offering only gives you small housing options, it’s another way to get more space for your money.
Then there’s also auction properties to consider. If you like the idea of a Dollar Home, but you always miss out on them, a local action may be better off for you. You may find that the homes cost a bit more, but they will still be affordable. Just know that you may be required to do some work to get them looking like new.