You are certainly no longer a stranger to the 400-500 square foot homes and apartments if you’ve ever been to IKEA or considered moving to the Big Apple. These homes are ingeniously designed to make the most of that little space you’ve got.
Tiny houses are a growing trend which a growing percentage of Americans are starting to turn into permanent living spaces. This type of house is in sharp contrast to the average American house which doubled in size from a generation ago. These new diminutive houses is a growing trend among empty nesters as well as those looking to cut back on their carbon footprint and also save money.
What Are Tiny Houses Exactly?
Tiny houses are small houses measuring no more than 600 square foot. Those living in this type of house embrace compact space and simplified living. Tiny home is a trend that is growing as more people chose to downsize their lives. These houses reflect a lifestyle that is a welcome departure from the typical oversized American house. Additionally, these homes have grown so much in the past years to include a nationwide homeowner’s movement who want to adopt a lifestyle that is not only environmentally conscious but also self-sufficient and financially responsible.
Tiny houses may look small but they still offer great comfort especially if you are single. You can still enjoy these micro-homes if you have a family that is ready to sacrifice space. However, you must ensure that your other priorities are met. The growing popularity of tiny homes across the country has been attributed to the increasing number of people living alone. According to the data from the US Census, there is a 10% increase in the number of people that live alone in recent years. Even as a couple, you can still enjoy your tiny homes; some couples are comfortable to downsize personal items and share small spaces. However, expanding families need to consider whether the rooms will be enough if an additional family member comes along.
What Does the Stat Say? Tiny Homes Stats
Size: Most tiny homes measures 186 square feet on average compared to 2100 square feet for U.S standard homes.
Construction: Assuming the owner does the work, it will still take him about $23,000 to set up a tiny home on average.
Age: Currently, tiny homes are mostly owned by those of 50 years of age or older.
Gender: About 45% of tiny home owners are men while 55% are women.
Education: The owners of this type of home tend to be highly educated and they are twice as likely to hold a master’s degree.
Savings: Over 65% of tiny homes residents don’t have any credit card debt and most of them have average savings of nearly $11,000.
What Are The Reasons Why Tiny Homes May Be Right For You?
Most folks who are ready to downsize find tiny homes highly appealing. Apart from downsizing, there are just as many incredible benefits you will enjoy from owning a tiny house. We will take a brief look below at some of the reasons why you may consider getting your own tiny house very soon:
- Tiny Homes Are Adorable
The “cool” factor is one of the reasons you should get a tiny home today. They range in style from compressed Victorian homes to contemporary tree houses to miniature log cabins to nautical-inspired spaces complete with portholes. Additionally, estate developers and architects around the world are adding their own concept and personal touch to tiny houses making these diminutive abodes a great place to show off your sense of design. You can build tiny houses with variety of designs and materials. In fact, when it comes to design of tiny houses, you are only limited by your idea.
- Tiny Homes Are Mobile
Are you always on the move? Do you want to live in various counties or state while still being a homeowner in your new city? You don’t need to take up new mortgages any time you move. You can easily take your house along with you if you have a tiny home. They are designed to be mobile. In fact, some tiny homes come with the wheels attached; making it very easy for you to move anytime you want. You can move them like RV. However, you should note that most mobile tiny houses don’t have the same look like RVs. They look like normal house, only that they are small.
- Tiny Homes Are Economical
On average, it cost about $20 to $400 per square foot to get a tiny home. You will get the cheapest deal if you go for kit-based tiny homes which are priced under $3,000. Additionally, complex micro homes with fabulous designs don’t usually cost more than $100,000. Perhaps, the price of tiny homes is the reason why over 70% of tiny home owners don’t need a mortgage. Over 80% of residents of tiny homes own them instead of renting them since their price tend to be so affordable.
- Tiny Homes Have Less Environmental Impact
It takes fewer resources to build and maintain a tiny home which means less impact on the environment which benefits all of us.
- Tiny Homes Encourage Family Bonding
Tiny home encourages family to stay close and results in more social interaction among the family members.
- Tiny Homes Result in Less Debt and Less Risk
There are online calculators you can use to determine how much house you can afford. These calculators give you result based on your net income, current debt, savings, and monthly mortgage payments. Additionally, they are also based on the idea that you should spend 28 percent of your net income on your monthly mortgage payments. However, with tiny homes, you can be happier and more financially stable by spending just 15% instead of 28% of your net income.
- Tiny Homes Are Easy To Maintain
Bigger houses are hard to maintain; even if you hire a maid, you will have to pay her per hour to clean the whole house. With tiny homes, you expenses on home maintenance will be significantly reduced. You will spend less time, energy, effort and resources on maintaining your home.
- Tiny Homes Are Mentally Freeing
Have you heard the saying “that the more we own, the more they own us”? In fact, the more stuff we own, the more mental energy is held hostage by them. This saying is true with our largest, most valuable asset. You will be able to free your mind when you buy small.
- Tiny Homes Are DIY-able
You can definitely build your own tiny home; this is not only fun but educating. Even as a novice builder, you can still make your own home. Mostly, the houses arrive as easy-to-assemble kits that include panels or precut pieces, along with shingles, flooring, hardware and comprehensive instructions. You can easily set up your own house following the instruction that comes with it.
It will take professional builders and contractors an average of 3 weeks to assemble a tiny house. On the other hand, DIY enthusiasts can build a tiny house in about 480 hours. What this means is that as a DIY project, you can complete your tiny home in a year if you dedicate part of your time building it or in 3 months if you work full time.
Becoming a homeowner is a big decision; one that you have to make very carefully. You need to consider if owning a tiny home is something that you will be happy with. Your choice will depend on your lifestyle and what you want for yourself in the future. When you’ve finally decided to move into a tiny home, you can get the materials, resources and advice you need from a reliable company that deals on tiny homes.