What does your dream home look like? Is it a mansion? Well, for many now the dream is to downsize—a lot. Tiny houses are small but have made a big impact in the real estate world. 

 

How “tiny” is a tiny house?  

The average family home in America is about 2,687 square feet, while Tiny homes average about 120 square feet.  

The Movement  

Tiny homes aren’t just part of real estate, they’re a movement that’s all about these core components:  

Versatility 

Majority of tiny homes have the option to be readily moveable. The ability to move your home to different pieces of land, whether for renting or for purchase is great for nomads who want to experience living in multiple locations throughout their lives without purchasing new homes each time.  

Community 

Instead of neighborhoods, tiny house “communities” are popping up all over the country. The communities typically have a few customizable models available for build. Each community usually features some sort of gathering space, amenities like a pool or dog park, and a garden. The closeness is an attractive feature for people who like feeling involved and connected in their area.  

Downsizing debt 

Starting costs of a tiny home are minimal compared to a traditional home. This usually means people have the funds to immediately pay off their house without worrying about a mortgage and debt, which is especially attractive to younger homebuyers.  

Minimalism  

Tiny space means less junk. Most of the movement is about getting rid of clutter and living with the essentials to destress your life and spend more time on activities and memories rather than objects.  

Eco friendly  

A lot of tiny homes are made of reclaimed timber and recycled materials. In addition, some have solar panels with off grid electric and compost toilets (for those willing to live a little more extreme).  

The Cost  

Depending on how decked out your tiny home is, the base price of a simple build is about $23,000. A lot of consumers are choosing to build their own homes, which can save even more money. 

A factor to consider is the cost of renting land if you choose not to purchase a lot. Rental fees can get pricey depending on location.  

Also, remember to add in the cost of furniture, paint, and appliances. It should still be less than an average home or apartment, but it is a factor that can tip people over the edge of their budget.  

Tiny homes are a big solution for affordable housing and sustainability that many are searching for. This is a lifestyle change that not everyone can do right away, but it may be worth the change to let go of clutter and embrace a less hectic, minimalist lifestyle.