Advertising
Advertising

Six Unconventional Ways to Become a Homeowner

Six Unconventional Ways to Become a Homeowner

Each month as you write your rent check, you dream of the day when you’ll be able to write a check for your mortgage instead. No one likes throwing money away to a home you’ll never own, which is why home ownership is considered the American Dream, but has that dream seemed like it’s always just been out of reach for you? It actually might be closer than you think. Here are six options you may not have considered that could transform you from a renter to a homeowner:

  1. Buy a Mobile Home.

Mobile homes may not be something you dream of, but the truth is they can be great starter homes to get you out of renting. At about $41 per square foot for a mobile home versus about $83 per square foot for a new house, these manufactured homes are a lot more affordable than your average house.

Advertising

An advantage of buying a mobile home over a new house is that you can walk through the exact house you’ll be getting, and you won’t have to worry about building delays and new development headaches. Mobile homes can also be customized to feel more like a traditional home with garages, decks, and vaulted ceilings.

  1. Buy a Modular Home.

A modular home is similar to a mobile home in that they are manufactured in a factory. They differ slightly from mobile homes because they are assembled in pieces and moved to a permanent location. They are insured and appraised the same way that a traditional home is, and you can even purchase a warranty just as you would with a traditional  house. Modular homes can be customized and take less time to build than a traditional home. You can also expect to pay 10 to 20 percent less for your modular home than if you had the same thing stick-built.

Advertising

  1. Build Your Own Home.

If you have the budget for a new home, you might consider building your own. The good thing about new construction is that you know exactly what you are getting and aren’t as likely to experience those little “surprises” that often develop in an older home. Choose a reputable builder and ask about your customization options to make sure you get a home you love. You can even talk with your builder to see if you are able to work on some of the building yourself to reduce costs. Remember that you’ll need to own the land to start building a new home, so shop around to find a good deal on a piece of land you’ll enjoy for years to come.

  1. Go to an Auction.

Auctions are a good choice if you have a large amount of money saved in the bank. You will have to pay the full amount you win the house for at the auction, but if you can afford it you can get a great deal.

Advertising

If you watch any of the home flipping TV shows, you’ve probably seen people buying homes at an auction and were impressed with the deal they got. One thing you don’t want to do, though, is be like them and buy the house mostly unseen. Do your homework and evaluate the home before you spend the cash. Understand that if you purchase a home at an auction, it’s likely going to take time and money to get it to the condition you want.

  1. Obtain Special Financing.

Look into what options you have when it comes to financing. Rural areas have the U.S. Department of Agriculture’s Rural Development Single Family Housing Guaranteed Loan Program that offers zero-down financing. However, don’t assume rural means “country” and isolated. Homes can be found around major cities. You just need to check if the address is eligible for the loan. If you don’t qualify for this option, do look into other down payment assistance programs and financing that are available to first time home buyers.

Advertising

  1. Get a Co-Buyer.

What’s a co-buyer? It sounds just like what it is. Someone buys the home with you. This is often done with a younger and older generation, such as parents buying a home with their adult children. You can find a property that has separate living areas so it doesn’t feel like you’re back home living with mom and dad.

If you’d rather not move in with your parents again no matter the space on the property, maybe you can get your parents to cosign the mortgage to get a more affordable interest rate if they have good credit. Another option is asking mom and dad to purchase the home for you in their name and let you pay the mortgage as rent.

You could also buy a home together with friends or even your siblings.

There you have it- six ways you can say goodbye to renting and hello to home ownership. Think outside of the box, and you might just be one step closer to home ownership.

More by this author

Anum Yoon

Writer & Journalist

Taxes: 10 Terms You Should Know If You Want to File By Yourself This Year Weird Laws Around the World That You’ve Never Heard Of Six Unconventional Ways to Become a Homeowner 10 Underrated Netflix Movies And Shows To Binge Watch During The Cold Weather Can Self-Driving Cars Be Ethical?

Trending in Home

1 10 Small Changes To Make Your House Feel Like A Home 2 30 Awesome DIY Projects that You’ve Never Heard of 3 5 Reasons Why Tidying Your Room Can Change Your Life 4 25 Really Cool Cat Furniture Design Ideas Every Cat Owner Needs 5 Scientists Discover Why You Should Take Off Your Shoes Before Entering Your Home

Read Next

Advertising
Advertising
Advertising

Last Updated on July 18, 2019

10 Small Changes To Make Your House Feel Like A Home

10 Small Changes To Make Your House Feel Like A Home

Your house is more than just a building that you live in. It should be a home that makes you feel welcome as soon as you open the front door.

Making your house feel like a home is not something that simply happens on its own. You need to make some changes to a house when you move in, to give it that cozy, warm feeling that turns it into a true home. To help you speed the process, follow this guide to 10 small changes to make your house feel like a home.

1. Make the Windows Your Own

When you move into a home, they often come with boring Venetian blinds or less than attractive curtains.

One of the best ways you can instantly warm your home and make it showcase your style is to add some new window dressing. Adding beautiful curtains not only improves your home’s appearance, but it can also help to control the temperature.

2. Put up Some Art

If you have a lot of bare walls in your home, it will seem sterile no matter how beautiful your paint or wallpaper is.

Advertising

Hanging art on the walls will instantly give it personality and make it feel like home.

3. Improve the Aroma

A house that is not filled with inviting smells will never feel like a home. There are loads of ways you can make your home smell nice. There are tons of air fresheners on the market you can use.

Incense and scented candles are a nice option as well. Don’t forget that baking in a home is also a great way to fill it with an aroma that instantly smells like home as soon as you open the front door.

4. Put out Lots of Pillows and Throws

A great way to make your home look warm and inviting is to place lots of pillows and throws out on the furniture. It is much better to have too many pillows than not enough.

There is nothing like the feeling of sinking into a cushiony pillow that feels like a cloud to make you feel like you are at home.

Advertising

5. Instantly Class up Your Closet

If your closet is filled with wire or plastic hangers, it will never truly feel homey. To instantly make your closet feel classy, change out your old hangers for wooden ones.

Not only do they look great, but they are better for hanging your clothes as well.

6. Improve Your Air Quality

One of the most overlooked ways to make your house feel more like a home is to improve its air quality.

The easiest and best way to upgrade the air quality in your home is to change the old, dirty filters in your furnace regularly. Get some air filters delivered to your home so that you always have some on hand.

7. Fill it with Plants

Another way to improve the air quality in your home is to fill it with plants. You should have plants in every room of your home.

Advertising

They help to improve the air quality and they look beautiful. As well as making your home appear homier, plants also help to boost your mood and lower your stress levels.

8. Change the Doorknobs

Most people don’t really give their doorknobs a second thought unless they are broken. That is a shame because changing your doorknobs is an easy way to add personality to your home.

Changing your old, boring doorknobs to new ones that are works of art will instantly brighten your home.

9. Upgrade Your Tub or Shower

There is nothing like luxuriating in a whirlpool bath or steam shower to make the cares of the day melt away. Your family deserves a bit of luxury when they are in their bathroom.

Install a new shower or tub today to make your bathroom worthy of a place in your home.

Advertising

10. Fresh Cut Flowers

You can make any room in your house feel homier by placing a vase full of beautiful flowers in it. The gorgeous look and intoxicating aroma of fresh cut flowers will immediately brighten your day when you encounter them.

You don’t have to make all these changes at once. Try one or two a day though, and your house will feel like a home before you know it. The trick is to constantly keep adding these homey touches to make your home a place worthy of its name.

Featured photo credit: https://www.pexels.com/photo/black-wooden-round-analog-wall-clock-on-brown-wooden-wall-121537/ via unsplash.com

Read Next