Tiny houses are an affordable option for many people, including seniors and millennials. Downsizing has become a new trend in vacation rentals and much more. This trend promises to overcome housing shortages and inspire HGTV shows that make tiny homes look like ideal living situations. However, eal estate agents know better. Continue reading to find out about the pros and cons of buying tiny houses.
Pros of Buying a Tiny House
Many people who are for tiny homes will talk your ear off about all the many ways their life has changed for the better after getting rid of their material possessions. Here are some pros to living in a tiny house.
- More affordable. Tiny homes can be quite costly if you go all out, including high-end building materials and amenities. Overall, they are more affordable. Tiny homes, on average, cost about $60,000. Traditional homes on average cost $243,400.
- Mobility. Many tiny homeowners see a tiny portable home as a big plus. Many people that want to move around before setting down their roots will look for a tiny home that is more livable for them compared to an Airstream.
- Smaller eco-footprint. Those who are all for the environment can really appreciate knowing that living in a tiny living space equals a smaller eco-footprint.
- Quick to build. Due to the scaled-down size of a tiny home, it can be built a lot faster than a conventional home. You will even be able to find builders that offer prefab designs that can be customized to your liking, which can be built in several weeks.
Cons of Buying a Tiny House
According to a recently published survey on Trulia, many people regret buying their tiny homes. Another survey from the National Association of Home Builders discovered that at least 47% of people are not open to the idea of living in a tiny home. No matter how much money you save and how much you can reduce your eco-footprint, sometimes living in a space under 600 sq feet is not what it seems to be. Here are some cons of living in a tiny home:
- Not much personal space. Making the transition to a tiny home in places that are big, such as Texas, may not come so easily. Living with another person will cut down significantly on personal space.
- Less storage space. The number one thing many homeowners wish they had more of is storage space. This is something that you will not likely get with a tiny house.
- Hidden costs. While tiny houses can be more affordable, there are also hidden costs that you must consider. Several of these include renting a lot of RVs for space, costs to transport, lower resale value, and connecting utilities.
- May not abide by local codes and zoning laws. Before you jump the gun and purchase or build a tiny home, you should check your local zoning laws. Many cities have updated their laws and codes to include tiny homes.
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