Tiny Homes For Tiny Budgets

The life of living in tiny homes has become a massive trend in recent years. With no particular age limit, many have made the decision to simply reduce the amount of space in which they live, which also means having fewer material things. The homes typically contain less than 500 square feet of space while coming in all shapes and sizes. They may be stationary on a solid foundation or constructed on wheels for portability.

Financial Advantage

Conventional homes have grown larger and larger, which means they cost more to buy and maintain. As millions of people find themselves with less income, owning a traditional home has become more of a challenge. Along with the original purchase price, homeowners are strapped with property taxes, home insurance, potential repairs and improvements plus utilities.

On the other hand, tiny homes are more affordable to build or purchase. Utilities and upkeep are also considerably less. Smaller homes thus give individuals and families the opportunity of owning a home that does not require the majority of their income. Depending on the style and size of the home, tiny versions may cost a few thousand dollars to $50,000 or more.

Tiny Home Options

When desiring to own a tiny home, individuals must decide whether they want to build their own, purchase a prefab kit or have the home constructed for them. Creative people might choose to build a home of their own design. However, some may prefer to build according to existing plans that are readily available. Prefab kits contain all of the outer components of the home. Some do not require the use of power tools. A number of companies design and build tiny homes for people.

Considerations

Many communities have minimum size restrictions concerning the homes allowed within the town’s borders. Thus, potential tiny homeowners must ensure that the structural size conforms to local codes. In addition to the cost of the home’s shell, other costs to consider include windows and doors, insulation, plumbing pipes and wiring.

To overcome potential city limitations, owners often purchase land in a rural location on which to build their new home. However, in addition to the cost of the materials needed to build the home, the availability of electricity, plumbing and water sources must be considered.