Buying A Tiny House

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The tiny home movement really took off when COVID-19 started to disrupt the lifestyles of many, some of whom lost their jobs due to restrictions on movement and the closing down of businesses such as restaurants.

It suddenly became clear that paying rent was an inherently unstable way to ensure a roof over your head. This was even in the face of rent moratoriums - after all those would not last forever.

There is also the fact that in many large cities the costs of property rentals have skyrocketed. this places a rental property out of the reach of many. the result is settling for sub-optimal living conditions, long commutes, or sharing the living space with others. Each of these can lead to sub-standard quality of life.

Would it not be better than to own a property that met all living requirements and boasted a price tag that was affordable to first-time buyers? A bonus would be if the home was mobile.

RV living is not for everyone - but owning that tiny house on land that is also owned has a variety of benefits. And if you want to learn more about the different types of tiny homes, check out this article.

The fact that these homes also allow sustainable and green living (at around 300 to 500 square feet they are energy efficient). Saving on the purchase price means that owners can also opt for luxuries that they might have not been able to afford.

However, even given these attractions is a tiny house the solution for everyone? Let's take a closer look at the pros and cons.

The Pros

Firstly there is cost. A tiny house is far cheaper than any traditional landed property. They also cost far less on a month-to-month basis in terms of household expenditure on rates and services.

Research has shown that building the average tiny house will cost between $30,000 and $75,000. Of course, the more luxurious the house the greater the cost - at the very top (stratospheric) end it is possible to spend around $180,000 - but this is very much the exception.

When many people begin to think about tiny house living they take in for granted that they will have to do without all those appliances and modern conveniences that make life in the 21st century easier and simply more comfortable.

But that is simply not the case. Modern appliances are available in a number of configurations - and many of the standard models of appliances such as dishwashers, washer dryer combos, and refrigerators are ideal for use in a tiny home.

They take up very little space and are frugal when it comes to energy consumption. Clever design can even make it possible to fit a small tub into a tiny house - there simply is no need to go without all those mod-cons.

It's even possible to add luxury features such as underfloor heating, it all depends on efficient interior design and out-of-the-box architectural thinking.

One of the beauties of owning a tiny house is that it can match your individual lifestyle. Many people will opt to set up their tiny house on a concrete slab. They appreciate the permanency of the home.

However, for many others, one of the greatest joys of owning one of these homes is that it can be mounted on wheels and transported to a new locale. this makes travel and exploration fun - and it also means that relocating to another city to take advantage of a job opportunity or as a lifestyle choice is far easier.

It's much more cost-effective and simpler than having to search for new rental accommodation - or possibly having to pay hotel rates while searching for that ideal new home base.

Keeping a tiny house clean and tidy is a far simpler challenge than would be the case with a full-sized home. Sharing a property with others also provides many challenges - there is almost always that one person who will not pull their weight when it comes to ensuring that the property is presentable - and hygienic.

With a tiny house cleaning up is a breeze - and there is also the fact that time is the one asset that simply cannot be replaced. Once it is gone, it is gone forever. Keeping a tiny home tidy and clean allows the owner to enjoy more leisure time.

A tiny house does not have room for all the furnishings that seem to accumulate in larger spaces. Owning one forces you to focus on what really matters - and that can be incredibly liberating.

It's also worth noting that we are today continually lured by the promise of endless consumer goods - and Internet shopping allows us to indulge ourselves almost endlessly. But focusing on what is really important - and realizing that space is at a premium those bad retail habits tend to be kept in check. That means saving money for those things that really matter.

It's worth revisiting the idea of tiny houses being eco-friendly. We all want to reduce our carbon footprint and do our bit to protect the planet.

A tiny house means less power consumption, less use of chemical cleaning agents (which do untold damage to the environment when disposed of incorrectly) - and overall, less consumption. Research has shown that people who live in tiny houses consume (on average) 54% less than the average American.

The simple fact of the matter is that limited cupboard space means less space for goods that may simply sit on a shelf for months. There's also the fact that tiny homes use fewer building materials (which can damage the environment during manufacture) and reduce the impact of building activity.

The Cons

Regulation can throw up hurdles for those who want to own a tiny house. In several states, tiny houses fall into a grey area.

They may not meet safety criteria and zoning requirements. that can make finding an area to establish a tiny house very challenging. They simply do not qualify as residences because they do not meet the legal requirements to be classed as such due to their small footprint.

There are ways around this in many states - those states classify tiny houses as RV's - meaning that you can stay at a campsite. However, is that the sort of lifestyle you want?

The fact that tiny homes are not classed a 'houses' can make getting a standard housing loan difficult. There are other types of loans - but loan periods will not be as generous and interest rates are often not very attractive. Asan investment tiny houses also may not be ideal.

Because of the red tape and regulatory hurdles, they tend not to provide a great return on investment when selling - and the market is simply not as robust as it is for traditional properties.

There is also the fact that if one simply looks at dollars and cents the cost per square foot of a tiny house makes them fairly expensive when compared to a traditional home.

It's almost inevitable that you will lose money when you sell your tiny house. you can do a little offset that loss by doing periodic upgrades and ensuring that appliances and finishes etc are of the best quality. Exceptional or unique design can limit the losses.

Then there's the attraction of the tiny house being mobile. If you are attracted to the idea take note that you are going to have to own a truck - or at least be willing to rent one for that once-off relocation.

Travel is also hard on tiny houses. Changes in climate and rough roads - as well as long journeys, are going to mean that maintenance is an issue when you arrive at the final destination - or constantly if you are continually on the move. Those costs can mount up.

A tiny house is, well, tiny. That means less storage space. You will not be able to save while buying in bulk and you are going to be making increased numbers of trips to the supermarket. That eats into your time and finances. Cooking can also be challenging - and remember you'll almost always have to deal with a composting toilet.

Stop and think.

Living in a tiny house is a lifestyle choice, but making the decision to enjoy that sort of lifestyle needs careful consideration. There are some red flags that may mean that a tiny house isn't for you.

You are going to have to sacrifice some of those worldly goods - that monster flat-screen TV might have to go, as will that huge leather lounge suite (your prized collection of wall art will have to be significantly pared down).

You may not have as much space to clean - but you're going to be cleaning a lot more often. Clutter and dirty dishes can build up incredibly quickly. Finding that ideal location to build your tiny dream home can be incredibly challenging due to building restrictions - you may not find that place in the woods next to that chuckling stream. Large indoor entertaining will become a challenge.

Do your research and think long and hard about what you will be sacrificing. But remember - there are also significant upsides to choosing this way of life. Tiny house living can be a dream come true, or a nightmare. It is what you make of it.