Tiny homes are a growing trend for young adults who are trying to save up their money while trying to advance in their careers. If you haven't heard the news yet and are scratching your head about tiny homes, these small buildings are 200 square feet or less in size. They can cost around $20,000 or less as they have the very basic necessities of living. Most of these tiny homes have kitchenettes, bathrooms, and loft areas that provides a bed. The simplistic design also allows the homes to be placed on wheels as they can be parked like RVs at designated camping spots or occupy a lot that someone owns.
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What Makes Tiny Homes So Appealing?
Tiny homes offer simplistic living. This arrangement appeals to people who don't require much in their lives at the present time as they enjoy spending more time out-and-about and only need a place to rest their heads or cook meals. People who are concerned with their carbon footprint may find tiny homes appealing because it uses less materials and resources. So they are using up less natural resources. Since tiny homes have wheels, they can be moved about as people enjoy road adventures.
Another factor to consider is that tiny homes cost less than a traditional home. Many people own their homes outright, eliminating the need for a mortgage as they have less debt to carry for years. In addition, tiny homes require less maintenance and lower utility bills, saving more money for the homeowner.
The Downsides of Owning Tiny Homes
Tiny homes aren't for everybody. You have to feel comfortable coming home to a tiny space that is about the size of an outdoor shed or small garage. Since the space is so tiny, it doesn't leave room for you to entertain guests or host parties. Also, you don't have much storage space, keeping the possessions you own to a bare minimum.
Another downside is that you may own the tiny home, but you may not have a place to park it unless you also buy property somewhere. So you have to consider paying property taxes every year. If you don't want to own the land, you have to find an acceptable place to park, and oftentimes engage in communal living arrangements with other people.
Lastly, if you decide to get married and have children, a tiny home will never provide the right amount of space for your growing family. You also eliminate the ability to have elderly parents move in with you if they can no longer live in their own homes. Due to these factors, people may continue to save up their funds to purchase a bigger home as they can later downsize to a small house or cottage.