What happens to my home if I don't pay for another month of premium?

[SamaraRose Arashi]

I've been looking for a really cheap or free home in SL, and I can't find anything. I dont have much currency in SL.
So I seen that if you buy a premium account that you get a home. But what I want to know is, if I decide I dont want to pay for another month, what happens to my home and everything in it?  I dont want to pay and then end up looseing everything if i decide Im not gonna play for awhile and not pay for another month. 
I can't seem to get any straight answers, please help. :matte-motes-shocked:

[Rolig Loon]

The best way to get a straight answer is to ask a straight question.  You just did.  :smileywink:

If you are no longer a Premium member, you lose your Linden Home.  Anything that is still in it when it's abandoned should be returned to your inventory.  The way to be sure, though, is to take your stuff back yourself.

You'll have to decide whether a Linden Home is a bargain for you or not.  It's not truly "free".  After all, you pay a Premium membership fee to get it.  You'll have to balance that against the cost of paying rent on a parcel somewhere to decide when you'll come out ahead.  There's a lot more to a Premium membership than access to a Linden Home, of course, so your fee is getting you more than you'd get by just renting a parcel as a Basic member.

Do your homework.  Read

http://community.secondlife.com/t5/English-Knowledge-Base/Premium-membership/ta-p/1054477

http://community.secondlife.com/t5/English-Knowledge-Base/Linden-Homes/ta-p/700103

Be double sure that you read the sections in both sites that deal with abandoning a Linden Home and downgrading from a Premium membership to a Basic one.  If you do them the wrong way, you can end up paying for things you hadn't counted on.

[Lucretia Brandenburg]

You won't lose everything, the contents of the house get sent back to your inventory in your lost and found, the house stays where it is, Linden homes are not owned by the parcel owner.

While the initial outlay is greater, it's cheaper month to month if you can pay for a premium once a year. That works out to 6 USD per month. If you don't log in for a while, your home will still be there and the weekly stipend from LL will have built up to something you can actually use to buy something nice.

If you decide you don't want a premium account, don't make the mistake of just not paying the premium fee, that will get your account suspended. Make sure you downgrade to basic properly.

If you don't want to spend that much, you might consider a cheap skybox rental instead of owning land. A relatively nice one would work out to be less than 50 cents USD per week.

[Chic Aeon]

Aside from the answers you have (good ones), I think you haven't done all that much looking. If you go through search carefully you will likely find many very cheap ($25-$50 lindens a week and I have seen free too) apartments and tiny houses for rent. It takes time to look through all the listings but each time I have done so (and that is many times) I have found them.

Another alternative to going premium (a very good deal if you pay yearly as it is close to free) is to rent something and then spend some time over at the realms collecting crystals. You can easily pay for your rent by spending an hour or a few (depending on your rent and your skills) running through colorful pillars. And its fun.

If you do go premium and then decide not to keep it up be SURE and downgrade your account before stopping payment. Not only can your account be suspended -- it can actually be canceled. Gone. Kaput. Finito. Not a fun thing.