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Money Talks

Money Talks: Reducing Housing Costs

Housing costs may be a big portion of your budget. Our expert is going to give his opinion on ways to cut some of your expenses associated with how you live. 


A recent article on the website: https://www.moneycrashers.com/jobs-provide-free-housing/ has a list of ways to save money on housing costs. The suggestions range from easy to drastic. 

  • reduce water and electricity usage
  • make sure your home is insulated and well maintained
  • do your own maintenance and repairs
  • improve your credit before getting a mortgage
  • remove PMI from your mortgage payment
  • House Hack - find a way for someone else to cover your housing expenses (Here's our podcast about Airbnb http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607d95 )
  • Move to a More Affordable Housing Market
  • Buy a multifamily property and move into one unit and rent out the others.
  • Downsize to a Smaller Home
  • Move into an Attached Home
  • Consider Renting
  • Buying a house to flip and living in it until you sell it
  • find a job that provide free housing

Calls:

  • paying off mortgage early
  • ADU
  • how much money to put into a house

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