Whether you buy or rent a home, both mortgage and rent can be expensive. This is especially true if you live in an area where the cost of living is atrocious. Even with good-paying, stable jobs, homeowners or renters may find paying for their home a big financial burden.
In response, homeowners and renters have to quickly decide a course of action whether it be getting a second job, switching homes, moving elsewhere where the cost of living is cheaper, the options go on and on. Nevertheless, making a decision like this is never a walk in the park.
Married couple Brian and Starla Sullivan certainly had a big financial decision that they had to make when it came to the barbaric rent they were paying for their current home. Wanting to start a family, the Sullivans knew that they would have difficulty making ends meet with both the cost for their rent on top of raising children.
Then came a time when the couple had a child, and soon enough, another. With Brian working longer hours but the expenses only piling up higher, the Sullivans decided to look for a new home. The main issue? The closest home that they could afford was about an hour away from Brian’s place of work. However, to stay in their current living situation meant struggling to pay rent, buy necessities, and ensure Brian had more rest and time to spend with his family.
Fortunately, the Sullivans devised a plan: tiny house living would allow them to save a significant amount of money each month. Seeing that other families were hopping on the bandwagon, they too decided to try renovating an old bus to turn into their dream home, and they did after buying a used school bus for just $2,800.
In the beginning, the children thought that living in an old bus would be a crazy idea. However, little did they know that their parents would be turning the old, rusty bus into a gorgeous, comfortable family home with wood flooring, large sofas, full-sized beds, a fully-functioning kitchen, and the rest of the works.
The family ended up spending about $30,000 on the bus renovation. Although that’s a lot of money, that’s the equivalent of some people’s down payment when buying a new house, sometimes even cheaper. The difference, however, is that the Sullivans won’t have to pay a mortgage over the next few decades, but rather, more affordable rent than they’ve ever had before. If the family is lucky enough to know someone with extra land, they may be able to live in their bus completely rent-free on their property!
Although tiny house living isn’t for everyone, Brian and Starla Sullivan currently found the home perfect for their family and financial situation. In the long-run, they will be able to save more money thanks to lower rent.
(Source: https://www.metaspoon.com)
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