You may be aware of the latest infatuation with tiny houses. Admittedly, when I first saw “tiny homes” on the Home & Garden channel I thought they were the dumbest thing I have ever seen but more and more people seem to be attracted to tiny houses.
For most tiny house buyers the attraction comes from being able to move the home with ease. Young buyers are especially turned on by this idea because no matter where their career lands them the house can come. Although they are wildly popular (and super cute), what is the cost of a tiny house?
What is the Cost of a Tiny House?
As with any large purpose, there are many separate expenses that come along with buying a tiny house. You have to factor in the cost of the home (almost all tiny houses are custom built), purchasing land to put it on as well as a number of other expenses. So, what is the overall cost of a tiny house?
The Cost of a Tiny House
One of the perks of buying a tiny home is that you can pretty much control the cost. You can purchase a tiny house for as little as $10,000 or as much as $80,000. Of course, like with a traditional home, the less money you spend the less likely you are to be in love with your tiny home. You have complete control over the cost of your tiny house though. If you want to splurge in some areas (like appliances) you can skimp in others. Each tiny home is made for you specifically.
This is much cheaper than a traditional home (average cost of $188,000 in the United States). You can also cut the cost of your tiny home by buying an already-made (or pre-owned) tiny house. These go for less than building your own tiny house and you can always add/take things away to personalize it down the road.
Additional Costs of a Tiny House
The cost of a tiny house isn’t the only thing you’ll need to factor in though. You’ll also need to purchase a trailer if you plan to move it around (which is why most people buy a tiny house).Trailers like this usually cost about $5,000. If you don’t drive a truck and a vehicle with the ability to tow you will also need to plan to hire help to move your home, which can be costly depending on the distance and the movers.
Tiny Houses Save Money
The overall cost of a tiny house seems a bit crazy. You’re getting less square footage for not that much less money but you are saving cash in a lot of other ways. Because you’re space is so small you spend less heating and cooling it. You also don’t spend as much on water or electricity and you have a home that you own that can move around with you (if you’re not settled in one spot).
All in all, tiny houses are cheaper than a standard home in America but you are giving up a few things (including a tremendous amount of space). If you’re looking to relocate, like not having a ton of space to keep up with or simply want a tiny house it’ll take a bit of money but you can always sell it like you would a regular home. So, why not try out a tiny house if it interests you? It could become your home.
If you liked this article you may also enjoy reading about Living in a Camper.
Photo: Tumbleweed Houses