The housing market often fluctuates when it comes to prices. Regardless — for a number of reasons — it’s incredibly difficult to purchase a house. This is particularly the case for low-income individuals. As such, the recent emergence of tiny homes has become more and more popular.
Aside from more of a feasibility when compared to a normal sized house, there’s a sense of creativity and unique livability when looking at tiny houses.
This piece will tell you everything to know about the new phenomenon that are tiny houses.
Potential Location Flexibility
Due to the size of the houses themselves, most of them can be transported with a trailer. This allows the owner to essentially pick where they live (within reason). A metal trailer strong enough to shuttle the fully built tiny home can cost as low as $1,500.
When researching tiny homes online, a number of companies will offer plans to potential owners. There are even DIY (do it yourself) tiny home kits that involve framing and all of the acoutrements one would want. Of cource, the quality of the homes can differ when it comes to luxury and quality.
In theory, a tiny home can cost someone as low as $8,000. There are a pletora of used tiny homes which can also be purchased for discounted rates. Duly, one can get a highly luxurious tiny home. Those can cost upwards of $150,000. A tiny home (320 sq.-ft.) can be purchased all over the internet. This even includes eBay in some cases. On average, one of these dwellings are estimated to cost between $30,000-$60,000.
A number of insurance companies can be found online. The owner does have to do their due dilligence when seeking insurance. It’s not as simple as securing insurance for a traditional home — or even a car.
When building a small home, a building permit is usually needed. There are also local building codes and zoning regulations to work through. Additionally, these homes (which could have wheels underneath them) will have to secure something called a personal property policy. Some opt for RV insurance — though the homes will likely only be covered in the event that the house was built by an RV builder.
Owners really must be resourceful and informed when seeking insurance. It might depend upon the house itself, as well as the area in which one plans on living.
Due to the small nature of these tiny homes, the owner has the ability to decorate it the way they want without it costing an arm and a leg (aka an expensive renovation). Someone may able to get the house of their dreams without fully losing all of their savings.
Image Source: Tiny Living