How to Get Affordable Housing

Affordable housing is available through home sales, private landlords, government housing programs, caretaker positions and shared housing, among other possibilities.

Whether coping with income loss, trying to live frugally or simply saving money, finding a room, apartment or home that's affordable can save you hundreds of dollars every month.

Follow these steps and tips to find affordable housing in your area.

Difficulty: Moderately Easy

Instructions

1. 
    

   Consider whether purchasing a home is financially feasible or advisable in your situation. Sometimes, the lowest per-month cost will be to own a home and pay the mortgage, and you can find first-time homeowner programs at the state and federal level to help defray the initial purchase costs.
   
   Be sure you have a good emergency fund saved up, and that you intend to stay in the home for at least five years before making this step.

2. Contact a real estate agent to locate bargain-priced homes in your area. You might be surprised at what affordable housing options are available for for purchase. Be sure to look at town homes, which are generally less costly than detached homes.

3. 
    

   Ask your real estate agent about rental listings for homes, apartments and suites where you want to live. Renting may still be cheaper than a monthly mortgage, and it's a more flexible situation.
   
   Look for "For Rent" signs as you drive through different neighborhoods and around apartment complexes. Some private landlords have very affordable housing units due to low mortgages.

4. Be creative in your search for a cheap living situation. Have you seen ads for a caretaker, groundskeeper, nanny, or farm hand that include housing? Depending on your talents, experience and availability, a situation like this could be beneficial. Often, the job duties are part time and utilities are included with your apartment or room.
   
   My sister got a well-paying job on a horse farm that included a house for her residence, and my friend and her husband do yard work and housecleaning part time for a family in exchange for their above-garage apartment. Both situations yielded very affordable housing -- it was free.

5. Look into low income housing through the government Housing and Urban Development department if no other options will work with your budget. You can apply locally for a housing voucher or for subsidized apartments, both of which are affordable housing options for those who qualify.

Tips & Warnings

• Collect and keep on hand your income information, employer contact numbers, references and previous rental history.
• Avoid getting into a bad roommate situation or unsafe housing arrangement just to save money -- it's not worth it.

[smartguy386]

on 12/19/2009 Nice tips! 5*

[jaicard]

on 10/23/2009 Good information and well written article!

[alexagape]

on 7/19/2009 Great ideas!

[xrayness]

on 7/18/2009 Thanks so much for sharing this information. I really enjoyed reading your article.