One of the biggest investments you'll make in your life is in your home. Not only is this a place where you take refuge from the outside elements, but it's also where you'll make lasting memories and establish your own unique sense of style.
If you're preparing to buy a home, an increasingly popular option is the tiny home. This option allows for unique situations that could be just what you're looking for.
What Is a Tiny Home? A tiny home is exactly what it sounds like. It's a very small home that allows you to avoid many of the large costs of buying real estate. Although far smaller than an average house, its size allows you to reduce your monthly bills and maximize the use of every square inch of your living space. Despite the miniscule size, they are designed to provide all of the crucial elements of a home within the small space. Tiny homes are becoming more popular, especially for women and consumers over age 50. With the continual features being added, it's expected the hype will continue to grow and more people will turn to the tiny home to avoid expensive mortgages and financial commitments they could otherwise avoid.
How small is a tiny home? The average home in the United States is 2,700 square feet. However, when it comes to the tiny home, this number is cut down to just around 168 square feet. This is just around six percent the size of an average home. Although it may sound impossible to make do in a living space so small, it's more attainable than you may realize. A large number of homeowners have space they don't use. Others fill these spaces with things they don't need. By reducing living space, it allows you to make the most of every square inch and keep clutter minimal.
How expensive are they? One of the biggest incentives to invest in a tiny home is the unique ability to keep costs low. While the average cost of a new home in the United States is right around $290,000, you can have a brand new tiny home built for as little as just $8,000. This is less than many pay for a new car and includes all the necessities like plumbing, electricity, and kitchen accommodations. Since the cost is so low, this more easily allows you to move into your new home without the excess debt mortgage carries have to face for an average of 15 years following the purchase.
How to get one. If the idea of the investment in a tiny home sounds good to you, there are a couple avenues you can follow to get one for yourself. If you choose to build one from scratch, you'll first need land to put it on. You can save money on labor building your tiny home yourself. However, if you don't have confidence in your abilities, it can be well worth the added investment to have it built by a professional. You also have the option to invest in a tiny home that's already built. This can be easier, but you miss the opportunity to add unique features that express your personal style.
Benefits of living in a tiny home. At the end of the day, is a tiny house right for you? There are numerous benefits that could make it a good fit. For starters, you can get excellent quality for a very low cost, so it's great for anyone on a tight budget. You're also not dedicating yourself to a particular geographic area since you can relocate with ease. It helps you keep your carbon footprint low through the large use of recycled, repurposed, and salvaged materials in construction. It doesn't cost much to heat and cool a 200 square foot space. For many people, the benefits of the tiny home can prove a great fit to their ideas and lifestyle.