Welcome, visitor! [ Register | Login

The Tiny House: Is Downsizing Really Cheaper?

Tiny House September 13, 2017

The Tiny House Is Downsizing Really Cheape

We have heard so much about the “tiny house movement”, it is an ever evolving subject. Many people choose to move into a tiny house because they feel that they will save money, if not right away, definitely in the long run. Is it cheaper to move to a tiny house and if so, what are the forgotten costs of making this decision?

Buying or Renting?

Does it make more sense to buy or rent a tiny house? It depends on your financial situation. Many older people find it to be a great investment and a worthwhile move, even those still raising one or two children, because they ususally have the savings or a property they already own to use as collateral or sell, in order to make the move easier and cheaper. It can cost anywhere from $10,000 to $40,000 to build a tiny house from the ground up. Many buyers put down a very significant down payment or pay for the entire home at once. Many Millenials (the latest generation) find it simpler and cheaper to rent a tiny home because they haven’t yet built up enough savings or collateral to purchase one.

Renting or Buying Land?

Most Millenials rent land even if they buy or build their homes themselves. It is simply much cheaper to pay a price each month for your land than to buy it outright. Most land is too expensive for that, costing in the tens of thousands of dollars to purchase. Particularly when you rent a tiny home, it is often inside of a community and you pay a fee for the land that is yours. These types of tiny home situations often have a main house for cooking, showers, and the use of computers.

Live in a tiny home or rent it out?

For those who want to own a tiny home as an investment, you have a couple of choices. You can live there for a while to have the tiny house experience or you can rent it out right away. If you are the owner of a tiny house with land that you also own, it can be a good investment. By renting it out you give yourself a monthly paycheck that will be able to pay off the purchasing and/or building of the home or to use as you please if those bills do not exist. Purchasing a tiny home to rent out can be a lucrative project if you’ve already got a home of your own.

Source: Is the Tiny House Movement Worth Investing in?

No Tags

2536 total views, 1 today

  

  • All About the Inexpensive Sears Mail Order Houses

    All About the Inexpensive Sears Mail Order Houses

    by on October 22, 2017 - 0 Comments

    If Sears brought these back (for under $30k), would you consider buying one? Sears sold somewhere between 70,000 and 75,000 inexpensive homes through the mail-order Modern Homes program. 447 styles to chose from! Most people are aware of the Sears company, selling everything from clothing to high power tools. But only a few may know […]

  • Winter Living In A Camper Van

    How To Spend The Winter Living In A Camper Van

    by on October 24, 2017 - 0 Comments

    There are many places in Canada and the U.S. where the winter brings on very cold temperatures and storms. If we live in traditional housing we usually have a heatng system that keeps us warm and cozy. However if your housing is not traditional, such as living in a van, the winter can also bring […]

  • He Bought a Used Ambulance, Turned it into his Home, and Drove South to the Tropics

    He Bought a Used Ambulance, Turned it into his Home, and Drove South to the Tropics

    by on October 23, 2017 - 0 Comments

    He has now entered Costa Rice with his DIY converted home-on-wheels he bought used of eBay. We have heard of many vehicles being turned into homes these last couple of years, from vans to SUV’s to campers. But it is extremely creative to see an ambulance as your next home. Ambulances are often filled with […]

  • Luxury RV Living

    by on October 23, 2017 - 0 Comments

    Living an alternative lifestyle has become a world-wide movement. More and more people want smaller spaces, more simple living, less clutter, and most of all to be mobile, to be able to take their homes on the road. A tiny house on a trailer is one popular way to accomplish this, but no alternative is […]

  • DIY Repairs When Your House is a Van

    DIY Repair When Your House is a Van

    by on October 23, 2017 - 0 Comments

    Van dwelling is getting more popular these days. It saves you from paying rent and mortgage and many other monthly bills that everyone is used to paying. It is also a way to freedom, freedom to move and go whenever you feel the notion. Van dwelling comes with a lot of perks but you must […]