Owning your own home is one of the surefire signs that you are an independent adult with a strong understanding of property ownership. The problem with buying a home is that it can be incredibly expensive and really hard to achieve for many. There are plenty of obstacles that can get in the way of homeownership, which can hamper your dreams of having a place to truly call your own. An uncertain market, expensive property, lack of options, low funds, outstanding debts, and so forth are potential barriers between you and a place to call your own. But that shouldn’t be the reason why you can’t have your own place.
There are still plenty of ways to have your own place that doesn’t involve homeownership. While many of them are not considered ownership, as the property might be someone else’s, it still gives you somewhere to live that you can make yours in the meantime until you can afford to buy a home or find one that meets your standards. If you are looking for a place to call your own, then here are some really unique alternative ideas to traditional homeownership.
- Convert a Shipping Container
Not every home needs to be the traditional walls and ceiling that you would find in the suburbs, one of the coolest ways people own their own homes is by converting a shipping container into a home. The ability to get custom shipping container conversion is now a reality, and the growing popularity is helping people realize their dreams. A shipping container, when used properly, can be turned into a surprisingly comfortable and spacious place. Plus, you get bragging rights over the most creative home amongst your friends.
- Mobile Homes
Mobile homes get a really bad rep because people believe they are not high-class enough. The reality is that mobile homes, when decorated and taken care of right, represent a really great way to save money on having a living space. The best benefit you can get from a mobile is the ability to go where you like and set up shop. Many mobile home parks allow you to live for a lot cheaper than paying property taxes.
- Live Out of a Camper Van
If you want even more mobility with your living situation, a camper van is another unique option that kicks the normal home living to the curb. From hipsters to hippies, modern nomads, and adventure junkies alike, the idea of living out of a camper van has grown tremendously in popularity to the point where there is a huge community behind the idea. This allows you the ability to live on the road while still retaining modern amenities like internet and electricity but allows for some wicked freedom.
- Buy a House Abroad
The problem might not be that you can’t find a home; it is that you can’t afford it. Homeownership is not a cheap undertaking, it requires a lot of money for furniture, mortgages, financing, purchases, taxes, and fees, so your local market might be pricing you out. Some people have decided to turn to homeownership abroad in countries where your dollar can go further. This is a good option for those that can take their work with them and work remotely or easily find new opportunities overseas. That is probably the biggest hurdle, being able to uproot your life to go live in a foreign country, along with finding work, learning a new language, and fitting into the culture, but the possibilities could be life-changing for the better if you jump in with a positive outlook.
- Rent Abroad Long Term
Maybe you’re not totally comfortable buying a home overseas, so long-term rental could be in the cards for you. Renting overseas is also a cheaper option, and many services allow for month-long stays at reduced rates. It allows you to find a cool new locale to set up shop in, but you are not locked into a long-term commitment if you decide to get cold feet and head home for more familiar territory. Long-term overseas rental might be a short bridge between now and buying a home that you can take advantage of.
- Turn Your Place Into a Rental Spot
Alternatively, you can sublet your place or convert it into a rental space. Some people who have recently bought a house are struggling to cover a lot of the costs, so you can turn a room into your house into a room for rent. Similarly, you can make an on-suite for guests so they, and yourself, have privacy. Rental services like Airbnb allow people to turn their home into a money-making property that allows you to cut down on mortgages costs. This is a good way for people who do buy a home or rent out a space that can fit more bodies to help them manage more easily.
- Create a Tiny Home
Storage container homes are not the only cool and hip ways to become honest to goodness homeowners. Tiny homes have grown in popularity in the past decade or so as well because of the quaint and interesting opportunities they offer to have your own place. Tiny homes are exactly what they sound like and are simply smaller versions of a house. Think of a mobile home but with a similar interior to a full-sized house. Tiny homes are popular among millennials for more reasons than homeownership rights and cost-efficiency; they also offer a more energy and carbon-efficient home, which can satisfy your need to be environmentally-friendly.
Owning a home is one of the biggest accomplishments you can achieve in your life, but it is also not something that comes easily. Homeownership is expensive, and it is really hard to come by if there are factors butting heads against you. Rising costs, volatile market, lack of financial footing, and a difficult time finding the right place to call your own. With all of these barriers, it might feel impossible to truly find a place of your own, but now that you see what kinds of cool alternatives there are, you will see what options you truly have.