Single Mom Picks Co-Housing Over Renting, Saving Her $30,000 In A Year
The rising costs of owning a house have made it difficult for many people to break into the housing market.
A single mom has shared her story of how co-housing helped her become a homeowner and save a ton of money!
Meet Holly Harper
Holly Harper is a single mom who was renting a small 750-foot apartment in Washington, DC.
The apartment only had 2 rooms and cost her $2,550 per month when you factored in all of the costs like utilities and parking.
She Has A Daughter
That small apartment was costing her a lot of money and was not nearly enough room for her and her daughter.
The costs was also beginning to become a strain on her financially.
Housing Costs Can Be Expensive
The issue was that she had few other options outside of renting.
The prices of houses made it difficult for her to get into the housing market. Would she have to rent again?
Knew Co-Housing Was The Right Move
Instead of renting, she came across the idea of co-housing.
She became the proud co-owner of a an old home in Washington where her and her daughter would be able to live.
Join Forces With Another Single Mom
She bought the home along with a close friend of hers who was going through a divorce.
The two combined their incomes in order to give their children a house to call their own.
House Is A Paradise
The house features a very large half-acre lot that is great for the children to explore and play in.
Her apartment in the home is 1,100 square feet, features free parking, and is a great place to welcome friends and family.
Trampoline For The Kids
There is also a trampoline in the backyard that has the kids jumping for joy!
Despite all of the added room and amenities, her monthly costs are $1,875. She saves nearly $700 per month!
Now They Rent It Out
The two owners have welcomed two other single moms into the house, renting them other units.
The house is full of kids! This co-housing living arrangement has helped save her $30,000 that she wouldn't have if she was still renting!