Money Talks: Reducing Housing Costs
Jan 25, 2022•49 min
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Episode description
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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