New Kids on the Block – How to Make Housing More Affordable

Our top 3 ideas were income based rent, alternative construction methods and home utility efficiency. Income based rent is a good idea because it helps those of lower salary afford adequate housing, and gives them the opportunity for socioeconomic growth. This way residents are not spending the majo12285772_10101232187114341_1177953525_nrity of their income on housing, but for furthering themselves in society. Alternative construction methods keep building costs low, and in turn, allows for the homes to cost less. An example of this is straw-bale. Straw-bale is very affordable and a great insulation source; keeping people warm for less. Methods such as grey water lets residents reuse water, decreasing their total water consumption on their monthly bill. Composting toilets help eliminate waste and users receive fertilizer at no cost. By prioritizing home efficiency, residents can save money monthly. This can be through the use of energy-saver light bulbs, proper insulation and high-efficiency appliances. In the long-run, these products show their value on the utility bill.

We would consider the best idea for making housing more affordable is alternative construction methods. We think this because it decreases the cost of a home upfront. This makes home-owning easier for those who don’t have the financial capability of depositing large sums of money at once for a down-payment. Since the homes cost less it also decreases the monthly mortgage payment, allowing home-owners to spend less of their monthly income on housing.