Author Topic: Alternatives to Buying or Renting?  (Read 985 times)

Alchemisst

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Alternatives to Buying or Renting?
« on: March 23, 2019, 08:29:54 AM »
Any good alternatives for low cost of living housing? I have looked into yachts as a live aboard but maintenance seems be a factor and may not end up being that much cheaper, anyone doing something similiar or know of any other good alternatives?

waltworks

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Re: Alternatives to Buying or Renting?
« Reply #1 on: March 23, 2019, 08:40:23 AM »
Roommates, dude. Your yacht idea is maybe the worst I've heard...

That, or move somewhere cheaper. Or live in a box/camp in the park.

-W

Alchemisst

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Re: Alternatives to Buying or Renting?
« Reply #2 on: March 23, 2019, 09:32:11 PM »
haha yeah the yacht idea isn't the greatest. Room mates is fine if you are single or a couple, a bit harder if you have kids though.

waltworks

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Re: Alternatives to Buying or Renting?
« Reply #3 on: March 23, 2019, 09:37:59 PM »
So you have kids and you were considering living on a yacht?

I'm confused.

-W

Alchemisst

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Re: Alternatives to Buying or Renting?
« Reply #4 on: March 23, 2019, 10:22:38 PM »
Don't have kids yet, am currently renting/ sharing, looking for future options, i looked into a yacht, decided it wasn't worth it unless I wanted to do a lot of travel etc.

calimom

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Re: Alternatives to Buying or Renting?
« Reply #5 on: March 24, 2019, 08:43:09 PM »
OK then, since a yacht seems out of the running, there's always the option of moving into your mom's basement. Your mom doesn't have a basement/or is not receptive to the idea? Well, how about becoming the manager of an apartment complex? Moving into a college dormitory as an RA? Working for a campground in exchange for free space rent for your RV? Or tent? Working for a rich family as groundskeeper or nanny so you can live in the pool house?

Other than that, I'm stumped.

Archipelago

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Re: Alternatives to Buying or Renting?
« Reply #6 on: March 24, 2019, 08:55:51 PM »
Again, I'll give a mention to buying a multi family property with 3.5% down, living in one unit and renting the other(s). It's a pretty solid option. More information in my journal :)

ilsy

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Re: Alternatives to Buying or Renting?
« Reply #7 on: March 24, 2019, 11:44:41 PM »
First, find a spouse.
Second, once you've found her and it's serious, she will decide where you will be living and having kids. In any case, whatever you decide now, might not work for her, thus, for both of you.

So, one thing at a time, find a girl.

Tom Severston

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Re: Alternatives to Buying or Renting?
« Reply #8 on: March 26, 2019, 03:15:32 AM »
Better search for other renting opportunities. Or, if you don't have much fund, consider property crowdfunding platform, that has renting properties in its portfolio.

Linea_Norway

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Re: Alternatives to Buying or Renting?
« Reply #9 on: March 26, 2019, 03:57:47 AM »
Camping in the forest.
Eastern European beggars and some junkies are doing that around Oslo.
Be aware that your stuff can be searched, robbed or removed at any time. You should be able to shower somewhere, either at your job or in a training center.

Budgie

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Re: Alternatives to Buying or Renting?
« Reply #10 on: March 26, 2019, 08:19:08 PM »
My niece lives rent free in Miami in exchange for being responsible for the homeowner's dogs. Homeowner is someone who travels a lot (maybe a pilot?) so she lives in the apartment over the garage and takes care of the dogs. I think but am not sure that she also does the grocery shopping.

Two friends from undergrad saved a ton of money after college but before kids by living with an elderly couple who wanted some assistance around the house but did not need to go to a nursing home. The friends (married couple) lived upstairs and the older couple lived downstairs. Friends did shopping and heavy chores, worked full time jobs but were home at night to make sure everyone was safe and sound. Paid zero rent until they moved out when they had their first child, had a huge downpayment saved up because they'd had years rent-free while they both worked.

My friend's brother lives in a well funded area in CA and has been house-sitting various properties there for years. Lives in his van in between gigs but honestly there have been years at a stretch where he's been in someone's poolhouse rent free. He's the Kaeto Kaelin of his day, I guess.

In other words, find well to do folks who need something watched, cared for, or lifted in exchange for rent. There are probably 100 elderly people living alone in four bedroom houses in my neighborhood alone.

less4success

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Re: Alternatives to Buying or Renting?
« Reply #11 on: March 26, 2019, 09:18:56 PM »
Convert the downstairs of an elderly relative's home into a mini-apartment and then you can live for cheap and help an old person at the same time. This is only a reasonable idea if you could get along with the relative in question, and they are reasonably independent (i.e. you don't become a caretaker).