9 Cheap Housing Alternatives to Renting and Buying

The cost of housing is going up — and up, and up. Whether you’re buying a home or renting an apartment, it’s getting pricier all the time.

But what can you do? You have to live somewhere. Fortunately, there are some alternatives to buying or renting a home.

Elderly people or those with disabilities may need someone to help them with certain daily tasks they cannot do themselves. If having someone live with them means they can continue to age in place and stay in their home, it may be well worth it to them to find someone who will help in exchange for a free place to stay. Depending on how much help is needed, you may get a salary too.

Families with young children will sometimes hire a live-in nanny or au pair who can care for the children while the parents work, and may also be asked to do cooking or light housework. In exchange, the nanny gets free room and board and gets paid as well.

Working as a property manager often comes with a free place to live in the building you’re managing, as well as a salary. You’ll need to be able to do minor repairs yourself and manage contractors who do the major repairs, as well as coordinating cleaning and upkeep of the building.

If you have friends or family with an extra bedroom, moving in with them could be a way to beat the high cost of housing. Rather than pay rent, you could offer to do household chores or childcare on an as-needed basis.

This can be a short-term solution, or a longer term one if you’re flexible. When homeowners will be away for an extended period of time, they may want someone to stay in their home. You will be responsible for taking care of any problems that come up, but other than that, you’d just be living there. You might even get paid, but you may have to hustle to line up the next job when the homeowners return.

Cruise ship employees receive housing as part of their compensation, because they have to live on the ship. Accommodations are less than luxurious, as you’ll probably have a bunk bed in a shared room.

Resorts, especially those located in out-of-the-way places, often provide housing for their employees. This is an option that can be particularly appealing for people who enjoy the activities the resort offers, like skiing or golf.

Colleges and universities hire adults to live in dormitories and oversee the student resident assistants. While it’s a 24/7 job, there may be an extra perk: you may be able to take classes for free.

While these jobs are admittedly few and far between, working lighthouses need to be manned 24/7. Most have living quarters attached to the lighthouse where the lightkeeper and their family live. Your job is to make sure the light stays lit, and, if the lighthouse is historic, you may also give tours.