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Buying a house is one of most people’s most significant financial decisions. And there are a lot of factors involved in purchasing a home. But what if I told you that you don’t have to buy a house right now?
What if I told you that there are plenty of homes out there that you can afford right now? That’s precisely what I’m going to tell you in this article.
So let me ask you something first…
Why do you think everyone should buy their dream house right now? Let me know in the comments below. Now let’s talk about the houses that you can afford right now. There are two types of homes that you can purchase right now.
Investment properties often come with a mortgage payment that requires monthly payments over several years. However, these homes are worth much more than the initial down payment. In fact, the average return on investment property is 10%.
So if you invest $100,000 into an investment property, you could potentially earn $10,000 per year.
But here’s the thing…
These houses aren’t always located where you want them to be. For example, many starter homes are in areas that are considered undesirable. Or they may be too expensive for your budget.
So what does that mean? It means that you need to find a way to get a home without breaking the bank. Well, I’ve got some ideas for you.
Here are five ways you can get a home without spending a fortune.
Renting
This option is probably the cheapest way to get home. You need to rent a room in someone else’s house.
The catch is that you need to live somewhere that has a roommate. Otherwise, you won’t save any money.
Moving In With Friends Or Family
Moving in with friends or family is another way to get a home for free. When you move in with someone, you share expenses such as utilities, groceries, and bills. Plus, you’ll have access to a spare bedroom.
Living At A Campus Housing Community
Campus housing communities offer affordable living options for students. Many college campuses have dorms that are available for rent. You can choose between private rooms or shared rooms. Shared rooms are typically cheaper than private rooms.
Buying An Older Home
Older homes are generally cheaper than newer ones. That’s because older homes tend to require fewer repairs. They’re already established, so they have a higher resale value.
Selling Your Current Home
Selling your current home is another way to get cash for a down payment. Most real estate agents will give you a cash bonus for selling your home quickly. So if you sell your home before it goes up in price, you can use the extra money to pay off your debts or put it towards a down payment. What do you think?
Looking to Buy or Sell Call (973)678-1985
