Buying and owning your own house has never been so difficult to do. With money becoming increasingly tight and the economy showing no real signs of recovery, the prospects for young people that want to get onto the housing ladder are bleak. However, everybody needs somewhere to live – it is a basic requirement and we all need to do our best to make sure we have decent living accommodation. If you are low on funds but you’re still interested in finding the best accommodation that you can possibly afford, then read on for our great suggestions to help you along your way:
Rent a Room and Save
Renting a room isn’t exactly the most luxurious way to live, but if you are single then it can be a great way of finding your own independence, and saving a little money in the meantime. Renting a room in a shared house is relatively inexpensive, so it means that you can put by any extra money you are left with. This means that your room share days will not last forever as pretty soon you can start thinking about upgrading thanks to your savings. Live on the smallest budget possible while you save so that you can make sure that as much money as possible makes it into your savings account every month.
Move Back In With Your Parents
Young people relish the day that they finally gain their independence, however, sometimes there is nothing else for it but to move back in. It is not the perfect option by any means, but you will probably find that your parents find it easier to give you a lot more of your own space now that they are used to living without you. Take the opportunity to save loads of money while you live there, and you should find that in no time at all you have a lump sum which can be enough to put down as a deposit on a house to rent, or even to buy.
Buy a Very Small House
If you have gathered together enough money to put down a deposit on your very own house, then it’s best that you find the smallest house possible while you are just starting out. If you take on too much, you may well find that you are unable to meet the mortgage repayments every month. You could even consider having your very own house built – speak to an architect who is a specialist in drawing up small house plans, and they should be able to come up with some pretty creative ways of making the most of small areas.
If you appreciate your quality of life, then it is well worth spending as much effort as possible finding the perfect place for you. Even if this means saving up for a few years first, it is totally worth working hard to get the best place you can afford. The place in which you live is so important, so pick a location that you really love and find the best accommodation possible for your budget.