A lot of preppers think it isn’t possible given housing prices. However, with a little money saving and some searching, it CAN be done, but you’re going to have to make sacrifices to do it.
Doing a quick search on Realtor dot ca for 2+ bedroom houses at $50 000 gave me well over a thousand results from coast to coast. Believe me, they do exist, but don’t expect luxurious stone mansions with granite counter tops and gold plated faucets!
What you will mostly find in this price range are mobile homes or family cottages that are no longer used. You can also expect to have to make some repairs, some paint at the very least! You may not like the flooring, perhaps the layout isn’t what you want, maybe it doesn’t have that ideal curb appeal. As I mentioned in the subtitle, there will be sacrifices to be made. It boils down to accepting what you need versus what you want.
Another sacrifice to be made is location. Make no mistake, you will have to commute to town for work or find a way to start a home based business. Using your prepper skills can be really helpful with that. Even doing some side work as a handy man for the locals could help a lot…remember, you will have no mortgage so income can be cut significantly.
Saaving the money to do this will take some time, make no mistake about it, but it’s a goal worth looking forward to. Just look around at what’s going on these days with all the job loss due to the Covid-19 pandemic. Wouldn’t it be great not to have to worry about your mortgage or rent right now?
Cutting expenses is a great way to start those savings. Let’s face it, most of us have utilities to pay for services we really don’t “need”. Look at your entertainment budget for starters. Do you need that all inclusive cable package? How about trading down your smart phone for an old fashioned flip style? Can you save some money by downgrading your internet package?
Picking up some extra work is another great way to boost savings. Don’t be too proud to get a weekend job packing groceries at the local supermarket. Your local social services office might be able to hook you up with a senior that needs some odd jobs done for cash. Is this going to cut into your leisure or family relaxation time? Likely, but the long term benefits are worth it. After all, you’re working at this to help ensure your family’s security and well being.
If you’re already a home owner, you may have all the money you need right now to live your mortgage free dream! Don’t be afraid to at least check in with a realtor and your mortgage holder to see if selling your home right now could get you the money you need. At the very least, you will find out what kind of budget you could have if you decided to take that plunge.
Happy mortgage free home hunting.
