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Different Ways to Buy Property Without a Mortgage

If you want to buy a house, the first thing you’ll think about is getting a mortgage. It’s the most common route for people to purchase a house, but it requires you to first qualify for a mortgage, which can be challenging if you have poor credit or have had financial problems in the past. A hefty down payment is also required for a mortgage, which is often what prohibits people from securing such a loan.

It is, nevertheless, possible to purchase a home without the requirement for a mortgage. Here are some examples of how you can go about it.

Live Simply

If you can pay for an entire house in one payment rather than applying for a mortgage and taking out a hefty loan that will last for decades, you may save a significant amount of money, and your credit score will have no bearing on whether or not you can have the home of your dreams.

Saving hundreds of thousands of dollars is difficult, but it is doable if there are two of you in the family. If you can survive on one person’s salary and if you can live very simply, the second partner’s income might be deposited entirely into a savings account. It will take time, but it will be worthwhile if you can pay cash for a home and then live mortgage-free for the rest of your life.


Downsizing is another excellent approach to purchasing a home without the need for a mortgage. If you have enough equity in the property, you could sell it and buy a smaller, less costly one entirely. There may even be money left over to put into a savings account or invest in home improvements. Or perhaps you could buy a second property which you then rent out with the help of a company such as Costas Constructions.

There are a number of ways to do this. If you can manage with fewer bedrooms or a smaller yard, you could locate a less expensive property in the same area you’re in now. You might also search for a home that is comparable in size to your existing one but in a different, less costly neighborhood.


Real estate crowdfunding platforms might be the solution if you’re not trying to purchase a home to live in but rather as an investment and don’t want to take on a second mortgage. Obtaining a mortgage for an investment property requires a higher credit score than that required for a home, and the checks are far more thorough. Crowdfunding allows you to invest in a portion of a property with other investors and get a part of the earnings when it is leased or sold.

If you’re looking for a less expensive and simpler way to get on the property ladder, these specialist crowdfunding sites might be your best solution.


Purchasing a house at an auction might be a great way to find a place to live for a low cost. It will take less time to save up for a cheaper house, allowing you to purchase sooner and without having to borrow anything.

The only things to be aware of are that you will need to have the money ready as soon as you sign the documents for the property. Plus, there will be other people who want the same house, so you’ll need to be prepared to bid against them and stop bidding when you reach your limit.

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