Jun 24, 2021
The Financial Benefits of Living in a Tiny Home
The financial benefits of living in a tiny home are often one of the major selling points of said tiny homes. Let’s go over how it manages to do so.
Posted by: Amanda Team
For new homeowners or low-income citizens, the financial benefits of living in a tiny home are often one of the main appeals of modular tiny home kits. The belief that bigger is better is starting to wane as traditional homes only continue to skyrocket in price. The tiny home market is gaining attention by redefining the American Dream of homeownership. Let’s discuss the financial benefits if you’re unaware of them.
Realistic Mortgages
At an average cost of $23,000, tiny homes are built to be modular. They’re easier and cheaper to construct without the expense of the quality and are also just as durable as traditional homes. This makes it far more realistic for homeowners to pay off their mortgage and actually own their homes. Tiny homes aren’t the same as mobile trailers, though, and shouldn’t be confused as such. Tiny homes are—just like traditional ones—designed to last for a long time and can be improved upon to increase their value.
Lower Overhead Expenses
Another one of the financial benefits of living in a tiny home is the tremendously smaller overhead costs necessary for running all of its utilities. You have under 500 square feet to heat and cool as the seasons change, which results in much smaller energy consumption and even smaller property taxes. While the small amount of space may seem like a downside, it’ll actually further encourage better spending practices as you’ll only have enough space to store so much food and material goods. This will help you budget and limit the amount of money you spend at a time, helping you to save up even more money in the long run—a feature many people value more than you’d think.
Impacting the Economy
To further drive home how much money tiny homes save, they’ve become one of the favored methods of relief organizations after disasters wrack an area. They can also be used to combat homelessness! Tiny homes are quickly rising as the ideal method of providing low-income housing. Just like traditional homes, they’re high quality and durable, but unlike them, they’re much easier and cheaper to take care of.
Previous Article Next Article