Finding the Cheapest Housing for Retirees

Retirees looking for cheapest housing may look into several options to find low-cost housing.

At the time of life when you are most likely looking at living on a fixed income, it is important to find not only the right locale but also the right style of living to keep you happy.

 

Not everyone will want to live on a Florida beach. Some may be happy settling in the Minnesota wilderness. In either case, you need to know what to expect as far as costs of living for your retirement years.

Many spots considered great places for retirement actually have median home prices within the $100,000 to $200,000 price range. This is not usually within the typical budget.

However, for those who can afford to retire to such areas, they tend to offer a lot of activities and educational opportunities at low cost. For those that are not able to afford homes within this price range, there are ways to stretch your budget so that you can still have all the necessary amenities and a few extras to enjoy this time of your life.

Finding a planned retirement community may not only be affordable but also gives you the chance to experience life with others in the same stage. These communities promote active lifestyles and some even offer assisted living services.

If you have your heart set on having your own home, you can look into housing assistance from local, state and federal programs such as HUD that have programs geared toward helping seniors find the cheapest housing.

You can even look into shared housing as a low-cost option. This type of arrangement offers both the privacy of your own room and the chance to create an extended family. You can look into various non-profit organizations that offer this kind of cheap housing for senior citizens in the form of cottages, in-law units, single family homes and studio apartments.

Co-housing is similar in that it provides private homes with common areas to help promote community. The truly adventurous may even want to consider mobile home communities.

It is possible to retire on less than $100,000, even less than $50,000.

In some cases, retirees can live on about $700 per month and still have all the necessary amenities such as utilities and bus service to stay comfortable and enjoy life.

The golden years can be just that — a rich and rewarding experience after years of hard work.

 

 

 

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