Tiny homes have begun to gain a lot of popularity in recent years. People are tired of living in the sedentary life and have decided to go small. Just think about it, being able to get up and travel to a new part of a country, and still being able to sleep in your home once you get there. The pains from moving to a new place are a thing of the past. But, how much do you actually save living in a tiny home?
Believe it or not, living in a tiny home is expensive. When you look at it on paper buying a tiny house is fairly painless. According to Tiny House Giant, the typical tiny home can cost anywhere between $30,000 to $80,000 depending on your amenities. Adversely, when you are looking to buy a regular home it could end up costing around $295,000 after closing.
How much does a living in a tiny home cost?
Looking at the numbers side by side, choosing a tiny home over a traditional home seems to be a cheap option, but there are many factors that you have to take into consideration. Take square footage, for instance, a tiny home is usually a fraction of the size of a traditional home, but the cost of square feet can be equal. According to Forbes, the average cost per square feet in a tiny home can be close to $200 to $400. It may be cheaper that many larger homes, but at prices that high you could have a larger home paying the same price.
Square footage is important when looking for a tiny home. Since you have less space to work with planning accordingly is important. Based on the amenities you want, you may need to build higher up or out to accommodate them. Some things you will need to sacrifice, like a lot of storage. Some tiny homeowners, opt to use a small storage unit to keep all their excess belongings. Experts only advise this if you plan on staying in one place for an extended period of time.
If you decide not to stay in one place, you may have to purchase a new vehicle. If your home is built for mobility it will most likely have a tow hitch attached to it. While your old 2003 Honda Civic gets you around easily it may not be able to tow your 1,500-pound home. Not to mention all your stuff in it.
So, how do you save money living in a tiny home?
The location is a very important part of living in a tiny home. Above everything else, location is a top priority if you decide to live in a tiny home. If you are planning on staying in one place you have to find a dedicated lot that will accommodate your lifestyle. For some people, this may be an RV park; while others choose to live in a community that has lots for many tiny homes. Where ever you decide to park, your home make sure you have the right permits.
Most lots require a monthly fee that can range between $200 and $500; with a national average of about $400. Your best bet is to find land that you already own or that a relative owns. Make sure you follow all of your city’s zoning laws. You could face hefty fines if you miss a step.
If you plan on being on the move, you should opt for solar panels mounted on your roof. There will be more work, such as figuring out how much electricity you actually use on a daily basis. It could potentially end up saving more money. You want to make sure the tiny home you are living in can handle the panels structurally. The best way to do this is my letting a certified tiny home builder construct your new home. Usually pre-built tiny homes are more expensive, but in the long run, they save you money.
Tiny homes are the way of the future
So, is living in a tiny home and saving money possible? Yes, if you do it correctly. It may be tempting to try building your home, but you could do more damage trying to save a couple dollars. If you plan on condensing your lifestyle while saving money, living in a tiny home may be an option for you.