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What Else Can Your Home Do For You?

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By : M Shane    99 or more times read
ďWhat do you mean, what *else* can my home do for me?Ē you say.† ďA home is to live in and build equity; isnít that enough?Ē† Well, yes and no.†

If you just want a straightforward home with a straightforward mortgage, you donít have to bother answering this question.† Most people donít and do fine.† But if youíre wondering how you can buy a home that provides the maximum amount of income and/or the minimum amount of expense, read on!

Ways your home can be used to make money or minimize expenditure:

  • Multifamily homes

    • Everything from duplexes to apartment units can be shared with other people to save money on maintenance, repairs and electricity.† Consider teaming up with friends or family members to buy a home that will provide both parties with the benefits of a private single-family home for a smaller price.

  • Gardens

    • 1 acre or even several pots on a balcony can add fresh fruit, vegetables and herbs to your diet.† Many plants can also be raised indoors, making the air fresher.

  • Livestock

    • Even some suburban homes support a few chickens or rabbits grown for eggs and meat.

  • Home business

    • Save on overhead by working at home.† Whether you do office work or childcare, you can save on transportation, food and clothing.

  • Space for repairs and construction

    • A home with the space to create and repair appliances, tools and clothing can save you a lot of money in the long run.

  • Cheap or free heating

    • Does the home have heating that you can fuel yourself for cheap, like a fireplace wood stove, pellet stove or some other kind of heating appliance that doesnít require connection to the electric grid?† Wood stoves can double as cooking appliances, so donít discount their value for cooking meals and making hot drinks.

  • Energy-efficiency

    • Is the home energy-efficient?† Today, such programs as EnergyStar certify homes and appliances for their efficiency in conserving resources like electricity and water. Can you add more systems to take your home further off the grid, like wind turbines and/or solar paneling?

  • Environmental friendliness

    • A home that is eco-friendly is also easier on your health and your wallet in the long run.† There are many healthy alternatives to standard chemical-laden building materials, dťcor and protectants.† Look for sustainable natural materials and low or no VOC (volatile organic compounds) paints, treatments and stains.

  • Walkability

    • Buying a home that is close to amenities you visit often can save you money on gas and improve your health.

When you want to live frugally and use your home as a way to maintain an economical lifestyle, itís a smart idea to buy with these things in mind.† A home that provides some or all of these options can save you money and put a little in your pocket.

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