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Low Income Housing For Single Moms Article
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Low Income Single Mother Housing Options
from: Karlie BestlerWhen looking for low-income single mother housing options, there are the conventional routes and the unconventional. If you are a single mother in need of low-income housing, make sure you look into all your options to determine what is best for your family.
Public Housing, Subsidized Housing, Housing Vouchers
These are the conventional routes to obtain low income housing for single moms by going to an agency that provides some sort of housing assistance. The Department of Housing and Urban Development (HUD) has information on many conventional manners of obtaining low-income single mother housing.
The Extended Family
It used to be the extended family was conventional and the nuclear family was an oddity. Times have changed, but the situation for many low-income families hasn't. It's still more economical for single mothers to have some sort of built-in support system at home than relying on public assistance. Whether the support system is a live-in relative or sharing a home with relatives, it reduces housing costs and increases potential support for a single mother. It may not be a popular low-income single mother housing option, but it still is the most stable family situation.
Owning Your Home
A single mother may think owning her own home is out of her reach. The fact is that owning a home has many added tax advantages that increase her take home pay. In addition, there are a variety of low-income single mother housing programs geared towards matching or granting down payments for a new home. The the single mother must have a good income to support the mortgage payments and if her credit has been damaged, that also needs to be repaired.
If a single mother has the conventional option to own her own home, the choice really is a clear. Owning a home establishes better credit for her and builds equity as she continues to raise her children. It is a wise financial move for a single mother to jump on the home buying bandwagon.
Co-Housing
If there are problems with owning a home on your own, there are services to match single mothers together for co-housing. In this case, there would be two signers on the housing note, there would be two incomes to pay the mortgage, and both mothers would own the home. There would have to be a contingency plan in case one mother lost a job or became ill. This option for low-income single mother housing is fairly new and would need to be investigated fully, but it might not be much different than today's middle-class traditional families.
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