Low-Cost Living Options Worth Considering

Given that costs have been on the rise for us all, lately, thanks to inflation and interest rates that have been consistently rising, it should be no surprise that a lot of people are starting to look at where they live and thinking about making a change. Here, we’re going to look at some of the more affordable living options that are out there, their pros and cons, and which might be best suited to you.

Apartment living

The more traditional option and, in some cases, not quite as affordable as one might like, if you’re looking to rent a place, then this is the most common option that you’re going to find. By far, the biggest driver of the price of apartments is the location. Even tiny box apartments can be rather expensive if they’re in a prime location, so you might want to look at choosing a spot a little further out from the action but close to good transport links for more affordable options.

Taking to the road in an RV

Recreational vehicles, or RVs, have soared in popularity as of late. Not only are they a lot cheaper to live in than traditional homes, but with the pandemic, they awoke the wanderlust in a lot of people, a lifestyle that has been made even more sustainable thanks to remote working. Of course, if you’re looking for a place to settle down, then you rent space for them, as well. Their limited space and comparative lack of modern amenities make them more of a stopgap than a long-term solution for many.

Set up in a mobile home

From the name alone, it’s easy to confuse a mobile home with an RV. However, there are, in fact, manufactured or prefabricated buildings that are set stationary on a location. The low cost of manufactured homes for rent is one of the huge benefits, given that they cost less to rent, have lower utility bills, and lower maintenance costs. Unlike apartments, they are single-family constructions, as well, meaning that you can enjoy a little more of your privacy and boundaries.

Living as a guest

If you’re just looking for a room and some space in your home, then more and more people are opening up a guest spot in their homes. This might live in a spare room in the home of a person or couple that lives there already, or in a garage. The cost is, indeed low, but so is the space usually offered to you. If the owner’s plans for their home change, you can be moved out, too, which is much more frequent in these than in places designed to be rentals from the get-go.

Tiny house living

A lot of people have started to look at the tiny house or micro-house trend as a way to remedy many of the issues of modern living. It can be a great option for those who don’t mind the minimalist living offered in less than 600 square feet, and they’re also incredibly easy to buy if they seem viable as a long-term situation.

Every living situation has its own pros and cons, you have to look at your options and think about which are best suited to your own situation. Hopefully, this post helps with that.