In Step 2 of The Guide, you learned why separating your wants from needs in a competitive housing market is important. You were asked to use the Housing Wants vs. Needs Form to help define your housing and, or accessibility must-haves. Now it is time to revisit the form. It helps to have your housing search criteria, wants, options, and needs written on the form.
Also, use the Income Tracker Form in Step 2 and Household Budget Form in Step 4 to determine what you can afford to pay monthly.
If you have already estimated what you can afford, still create a household budget. It is a good practice to track your money to see, in black and white, what is coming in (income) and what is going out (expenses). You will be surprised to learn how much you can save by eliminating unnecessary spending habits.
To assess if you need a rent subsidy or subsidized housing, ask a housing professional, or use a real estate website to search for rentals based on your "wants and needs". If your income cannot afford your basic needs, you will need a rent subsidy or subsidized housing to live independently in D.C.
Revisit your Housing Wants vs. Needs Form to think about:
1) How many bedrooms do you want vs basic need?
2) Will you consider a smaller unit, efficiency, or roommates if your income cannot afford your dream home?
3) Would you consider living in a Ward or neighborhood you are unfamiliar with but is more affordable than your desired neighborhoods?
4) What are your accessibility requirements?
5) If needed, do you have money saved to pay for reasonable modifications?
6) If you need an accessible parking space?
7) Additional must-haves you need in your home.
When searching for an affordable and, or accessible unit to meet your housing needs, there are also different types of properties to consider:
1) Apartment in a multifamily building
2) House
3) Condominium (Condo) or Cooperative (Coop)
4) Rooming House, Shared Housing, Boarding Home, or SRO (Single Room Occupancy)
Remember, HUD-certified housing counselors provide free rental counseling and can help you develop a household budget, apply for rent subsidies, and search for affordable or accessible rentals. For a list of HUD-certified housing counselors, see the Resource Section.