Always keep your seed phrase on paper... but in a single location?

I'm thinking of finally buying a hardware wallet, but I'm skeptical of the classic advice "always keep your seed phrase on paper". I live in a house where I trust it could be safe but a single house could be susceptible to all kinds of problems (fire, theft, etc).

If I currently had millions in funds I would for sure find a second (or third) separate location to keep a paper seed phrase, but what would you suggest for your average Joe who just can't afford a second reliable safe place for a copy of their seed phrase?

I'm moderately fearful of using online methods of storage, but not necessarily as much as having all my funds in a piece of paper in my house and nowhere else. I know I'm going against conventional wisdom here, but those of you who have opted to also use cloud storage in some other way, how have you gone about it? Split it in multiple parts, encrypted it?