For most people, the largest living expense is housing, and in recent years, this cost has been increasing quickly.
The median annual price of homes in the US is expected to increase by 5.4% in 2023. In Canada, this figure is much higher, with home prices expected to rise by 8.5%.
If you’re having trouble making ends meet, looking into alternate housing alternatives may be a good way to save costs while embracing unusual and creative living arrangements. You may discover affordable, cozy homes with a little ingenuity and a willingness to streamline your life.
Here are ten unusual housing alternatives that could help reduce costs:
10 Unusual Housing Alternatives That Could Help Lower Your Expenses
1. Recreational Vehicle (RV)
Having an RV can fulfil more than just your desire to travel; it can also serve as an affordable dwelling choice.
A new RV is not inexpensive, but you can get used ones for around the same price as a used car. Despite their somewhat cramped confines and the ongoing need for parking, the sensation of freedom, both material and financial, may be worthwhile, especially if you enjoy the outdoors.
While it might not be a permanent change, it can give your budget a temporary reprieve.
2. School Bus Homes
Living in a school bus is an unusual way to live on less money for a while, but it’s much cheaper than an RV.
You can pay between $3,000 and $10,000 for a used school bus. The biggest cost factor is renovation. A school bus conversion that includes hookups for water and power can cost about $30,000.
However, finding parking spots can be a challenge, so do your research on everything from national forests to a friend’s big land before you go.
3. Houseboat
Living on a houseboat can be a cheap way to live near the water and avoid the high costs of owning a home on land.
Without the cost of a boat, it can cost between $2,000 and $3,000 a month to live a waterborne lifestyle. But you can save money by spending more time at sea and less time at the port.
Of course, this will be hard if you work in an office Monday through Friday. It could work for people who have flexible plans or who work from home.
4. Living in a Mobile Home
A mobile home can be a lot cheaper to buy or rent than a flat or house.
Sometimes utilities are included, but don’t forget to add in the cost of the lot fee, community fee and any other fees the caravan park owner may charge.
5. Moving into a Tiny Home
Tiny houses have become very famous, and you can see these housing alternatives on TV and on social media.
The term refers to small homes that aren’t much bigger than 600 square feet, and many of them are only 225 square feet.
If you don’t have enough money for a down payment on a regular house, a tiny home is a more affordable choice with cool design options. The average price of a small home in the U.S. is $52,000, which is much less than the price of a full-sized home.
Not ready to live in a small space? A tiny house can cost between $600 and $800 to rent, which is still less than most flat rents. But you might have to pay to put all your big things in storage.
6. Living in a Shipping Container Home
If you can believe it, one of the newest ways to live cheaply is by turning old shipping containers into small houses with an industrial-chic look.
These containers are a lot cheaper than a house and can be set up in different ways. You can even put together more than one container to get more space. Cost-wise, it could cost you up to $45,000 per unit to turn a container into a place to live.
7. Living as a Live-In Caretaker
Being a live-in carer can be a good choice if you want to work and live in a less expensive place.
You could take care of an elderly person or someone with a disability in exchange for a free room and a monthly pay. You could also work as an au pair or nanny, which can be a good choice if you like kids.
8. Being an On-Site Property Manager
If you’re handy, being an on-site property manager could be a good option if you’re looking for a low-cost place to live.
In exchange for free or subsidized housing, you would be expected to perform superintendent-level maintenance tasks like taking out the trash and cleaning common spaces.
9. Earthbag Homes
An earthbag house offers a novel and environmentally friendly housing option.
To build with earthbags, bags are filled with soil or sand and then stacked. Plaster or other natural materials are commonly used to create a completed surface on the walls. The materials used are inexpensive, and construction can often be done by the homeowner, reducing labor costs.
10. Converted Barns or Silos
Converting an old barn or silo into a home can be a creative and appealing way to combine rustic beauty with contemporary conveniences.
There is usually a lot of free space within barns and silos that can be converted into dwelling quarters.
Their spacious windows and doorways let in an abundance of natural light, making the inside feel airy and cheerful. Furthermore, they are constructed to endure severe weather, making for a long-lasting and secure home.
Are You Willing to Try These Housing Alternatives?
It is important to learn about the zoning laws, municipal regulations, and potential difficulties of each housing option before deciding on one.
Think about things like:
- where you would put it
- what kind of utilities you would need
- how sustainable it would be in the long run when making your decision
Some people’s lifestyles or budgets may not be compatible with these innovative housing options.
I built an earth bag home. It is solar powered and I’m glad I spent the up-front money to do solar electric, solar hot water, and solar radiant floor heat. The building itself is cozy now, but cost of build was not nearly as low as it was touted to be, even with mostly volunteer workers. I would not do this type of building again. Threads of plastic from the tubes of bag are still found around the home 5 years after the last earth bag wall was plastered. Adobe blocks, poured adobe, or cob may be more earth friendly and affordable if you have the adobe/clay on your building site.
Thanks for the REALLY helpful and specific advice Kelly! I’ve never met anyone who has lived in an earth bag home, so this feedback is really valuable.