What are the most Affordable Housing Solutions?
Cities like New York and San Francisco are becoming increasingly popular destinations for people looking for affordable houses for sale. However, the cost of living rises in tandem with population growth, leading to fewer affordable housing options for those on looking for low income housing.
Fig 1: A sustainable home
Courtesy: Sense & Sustainability
Several innovative housing alternatives, including microfinance, earth-cement building solutions, and collective social housing, are being developed to meet this demand. These days, low income housing aims to provide more than just comfortable quarters. Instead, new affordable housing models include sustainable features that lower the cost of building maintenance, technologies that give residents more power and connect them to outside resources, and greater respect for human scale and connection to the street. This article will discuss all the affordable options that you can adopt to live a carefree life.
Options to Choose From
Let’s have a look at some creative and inexpensive alternatives to traditional housing.
- Container Homes
Steel shipping containers are stacked and organized to meet your specific housing requirements to create this type of habitation. The outside shell of a container home is made from commercially available shipping containers. Instead of erecting a structure and adding cladding, the shipping container’s weather-tight shell serves as your home’s roof and external walls.
A typical small house has about the same inside area as a 40-foot shipping container. For as little as $2,000 secondhand, you may get a container that withstands any natural disaster. When building a container home, you’ll need the support of a professional who can help you visualize and plan the finished product. It is also possible to build multi-story residences out of shipping containers in various styles.
- Mobile Homes
In many cases, a mobile home payment is less than the rent for an apartment of comparable size. In order to save money on housing, you can buy an older mobile home in cash and avoid the monthly mortgage payment.
Families who don’t want to be tied down to a specific place will find these homes suitable. Homeowners who own mobile homes have the freedom to relocate for a better job or to explore a new place whenever the mood strikes them. This type of social housing can be towed anywhere with the help of an appropriate vehicle when the time comes to relocate.
Mobile homes can be kept in authorized mobile home parks or on land with wheel blocks to keep mobile homes from rolling. Before you hook your house to a moving truck, double-check that you have all the necessary licenses.
- Manufactured Home
In comparison to other possibilities, purchasing new or used manufactured homes may not be as affordable, but it is still less expensive than purchasing a typical home. Also, if you have a large family, this could be a fantastic alternative.
For those who don’t need as much room as a little house, a manufactured home is a good option. On the day that your new prefabricated home arrives at your property, you have the option of putting it in place on either a permanent or temporary foundation. The finished sections of a multi-section manufactured home are transported and assembled on site. Existing utilities will be connected to the house when it is put together, so you must first get them set up.
- Tiny House
The trend of downsizing to a tiny dwelling has exploded in recent months regarding social housing. With all the conveniences of a normal-sized home but in a smaller space, many people are flocking to it. It’s for someone with a partner to buy a new compact home for $10,000. A 500-square-foot home is all that separates this type of residence from the rest of the pack.
Conclusion
There are a growing number of fantastic possibilities for people looking for affordable houses for sale and begin their lives. The investor in low income housing must find and modify properties that fit the criteria for rental subsidies offered by local housing authorities.
References
- “24 Realistic and Inexpensive Alternative Housing Ideas.” MorningChores, morningchores.com, 20 July 2016, https://morningchores.com/alternative-housing/.
- “40 Cheap Housing Options To Put A Roof Over Your Head.” Frugal For Less, www.frugalforless.com, 4 July 2017, https://www.frugalforless.com/cheap-housing-options/.
- “A Guide to the Most Affordable Types of Homes.” Rise, www.buildwithrise.com, 30 May 2020, https://www.buildwithrise.com/stories/guide-to-the-most-affordable-types-of-homes.
- “10 Innovative Affordable Housing Designs For Sustainable Living.” Journal, architizer.com, 4 Feb. 2019, https://architizer.com/blog/inspiration/collections/affordable-housing/.
- “5 Insanely Affordable Housing Solutions For People Looking To Save | Tiny Living Life.” Tiny Living Life, tinylivinglife.com, 5 Oct. 2019, https://tinylivinglife.com/2019/10/how-much-house-can-i-afford-5-insanely-affordable-housing-ideas-for-people-looking-to-save/.
- “Affordable Housing: Investing for Profit.” Investopedia, www.investopedia.com, 31 Jan. 2022, https://www.investopedia.com/articles/mortgages-real-estate/10/affordable-housing.asp.
