10 Cheap Alternative Housing Options

Many people believe that housing consists of buying a house or renting an apartment. But here are a few alternative housing options other people have readily embraced. Sometimes you gotta be weird in order to get ahead!

1. Become a Landlord

If you’re interested in real estate, have you considered buying property and renting it out? If you rent out a couple bedrooms, you can make a decent amount of money each month that will one day overtake what you paid for the property, especially if you live in a city. The best part of becoming a landlord, however, is that you’re building equity.

2. Resident Director in a College Dorm

Did you know that a lot of college dormitories have resident directors? These are generally adults who have been out of college for awhile and oversee the dormitory during the school year. Generally, the room provided is much larger than a typical college dormitory. Of course, the size depends on what college you work for, but the resident director’s room can often be as large as a studio or one bedroom apartment. If you miss college, this may be a great option.

3. Working for a University

Additionally, some universities provide their employees with on-campus housing. This is usually set in a separate area from the undergraduate or graduate dormitories. More often than not, it’s family housing and there are multiple bedroom options. This is a great alternative housing option if you’re not looking to buy a house or rent an apartment that far away from work.

4. Boathouse

You’ve probably heard of people living on a boathouse, right? While this will only work if you live near a large enough body of water, this is another great alternative to buying a house. Most boathouses are now equipped with all the modern day amenities you need, such as internet and tv.

5. Motor-home

A motor-home is another option if you’re not looking to buy a house or rent an apartment. Motor-homes often get a bad reputation as people immediately associate them with trailer parks or low income housing. And while motor-homes can be good if you are looking for a more inexpensive option, they also come in a variety of sizes with a lot of different accommodations. A lot of people enjoy living in motor-homes if they’re travel enthusiasts, as you have the benefit of bringing your home with you wherever you go, and there’s nothing quite like sleeping in your own bed when you’re traveling.

6. Buying Abandoned Buildings

Have you ever noticed the abandoned firehouse in your city or maybe the old warehouse that no one has used for years? Lately, a lot of people in cities and town across the world have taken to buying abandoned buildings and converting them into living spaces. One of the main reasons for this trend is because it’s cheap. One big benefit of renovating an abandoned place is that you have the creativity to do whatever you want with the space.

7. Shipping Containers

It might sound strange to live in a shipping container, but plenty of people have made homes constructed entirely out of shipping containers! Making a home out of a shipping container means you pay significantly less money than you would with a house as you generally only have to pay a one-time cost of $4,500 – $6,000. Did you know you can buy them on Amazon.com?

8. Rent a Hotel Room

Most people assume that renting a hotel room for a long term basis will be expensive. But, if you find a moderately priced one for $50 a night, that’s about $1,500 a month. This is must cheaper than some monthly rent or mortgage rates. Plus, you have most utilities included in the price. And don’t forget about the cleaning service!

9. A Job That Pays for Housing

There are some companies that will actually pay for your living accommodations if you agree to travel or live in a new location every, say, six months. Think traveling nurse, for instance. While uprooting your life may be annoying, it may be worth it – especially before you have a family.

10. Other Unique Options

If the above options aren’t enough for you to consider, here’s a list of other unique housing options, many of which include building your own house from recycled materials. And, here is another list.  There are many different housing options out there. You don’t have to settle for an expensive mortgage. The ‘American Dream’ of a massive house doesn’t have to be your dream.

For more on this check out our articles on 10 Ways Traveling Can Help Your Finances, How I Lived In A Million Dollar Home For Free and Is Putting a 20 Downpayment on a House Realistic? 

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