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When the real estate market took off, the prices of homes became a little overwhelming. It seemed like homes with 3 or more bedrooms turned into gold in a matter of months. And look out if you had your eye on a brand new home in a spectacular new neighborhood. The prices of those homes tripled in record time! But before you despair, there are several alternatives to all the big, bad,shiny new homes which are selling for hundreds of thousands of dollars.

Condominiums, like apartments, now have many of the most desirable features that were formerly exclusive to homes. You just don't own the yard. But if you can give up your garden, you'll find some enticing trade offs.
Many new "condos" are in gated communities with pools and fitness centers. Most have the washer and dryer and are cable and computer ready. They can have a fireplace, a balcony or patio, master bathrooms and huge walk-in closets. You can still have a pet. They just can't roam freely. So what if you have to walk them! You wanted the exercise anyhow.
Another great alternative is the small fixer upper home. The right home in the right neighborhood can qualify you for some nice tax breaks. You can always fix up the home at your own pace to make it right for you. And later on, you can even add on if you so choose. This allows you to personally create the home of your dreams at an affordable pace. Roll up your sleeves and pitch in and you can save even more.
Maybe the thought of a fixer upper is too scary for you. Well, another option is looking around some older neighborhoods. The homes may be a little smaller than your dream home in that brand new neighborhood. But you may get a bigger yard. And most of the neighbors know each other so it's often like you just married into a big family.
My grandparents bought land and built their own house. They got the home they wanted for an affordable price and never moved.
Other options include town-homes, lofts, rental homes and apartments. Manufactured homes and log homes can be delivered and set up for a very reasonable price. You just buy the land.
Remember, our salaries haven't increased at the same rate as the cost of homes. It doesn't pay to gamble on whether or not that mortgage is going to throw you into bankruptcy. Be open-minded. Search the classifieds, get on line and drive around town a little. If you can think small, you may find you aren't sacrificing at all.

Learn more about this author, Sherri Clark.
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