How to Save Money on Housing

Since you’re gonna be spending a lot of time at home, why not make the best of it? There are ways that you can actually save money on housing for free! Whether you already have a home or are looking to get one, you can save money. Millions of Americans miss out on money they can save because they don’t know how. Lucky for you, you don’t need to be a part of those millions.

1. Never Pay for Repairs Again

Many homeowners understand the stress of unexpected repairs. That unpleasant surprise can cost a lot of money that you just may not have readily available in your budget. From pipes bursting, to faucets breaking, to ceilings leaking, and more, you may never have to pay for those repairs again!

2. Get a Home for $0 Down

Maybe you don’t own a home yet, and that’s okay! Before you consider taking the next step of getting a home, make sure you know the options available. Typically people think that they need at least 20% of the home’s price as a down payment. However, that is not the case and you actually can save thousands of dollars by spending $0 on your down payment!

3. Affordable Housing Options

If you don’t own a home, and traditional housing is too expensive, then you need to look at affordable housing options. The Department of Housing and Urban Development states that any housing expense that is over 30% of a person’s income is considered to be “cost-burdened” and anything below 30% is “affordable. There are homes near you that don’t require more than 30% towards the cost of rent.

There are many options when it comes to saving money with housing whether you already own a home, are looking to buy a home, or are looking for affordable housing. The best way to save money is by knowing the options available!