“Tiny home” and “luxury” are not words that normally go together, they seem more like an oxymoron. Yet that is indeed what American Living has named it a “hot, new trend” in lifestyle and in real estate.
Utah-based Wheelhaus is building luxurious prefab tiny homes on wheels starting at around $150,000 and that market is booming.
Here are the top five reasons that living in a tiny house has caught on in such a big way:
- Lower cost. Tiny homes cost significantly less than a traditional home. Prices vary by size and feature, but the media cost of a tiny home is between $30,000- $60,000 according to Business Insider. That low sticker price gives tiny home owners the financial freedom to own their home, avoid large mortgages, and build up their savings.
- More sustainable. Because of their size, tiny homes require fewer materials to build and less energy to maintain, significantly lowering their owner’s carbon footprint. Take it a step further with solar-powered energy and compostable sewage.
- Less cleaning. It’s simple—less stuff means less clutter. Cutting down space means fewer rooms to vacuum, fewer surfaces to dust, and more time to do what you love.
- Reduced stress. The simplicity and freedom of tiny living has several psychological benefits. Too much clutter has been proven to diminish mental well-being. That’s right, less stuff can actually make you happier! Plus, the low cost of living in a tiny home significantly lowers stress levels.
- More time outdoors. There may not be a ton of space for exercise and activities in a tiny home, and that’s the point! Tiny home living drives owners outside to enjoy the great outdoors and get active.
A tiny home generally refers to a single dwelling unit of less than 400 square feet in area, built on a permanent or movable foundation. Those five advantages to tiny-house-living make it ideal for those who can afford less and for those who may be committed to the environment and are looking to reduce their carbon footprint: retirees, starter home-seeking couples, and minimalist young people, among others.
Today they have come a long way since first being introduced and come in many styles and designs.
At a time when housing shortages are the norm rather than the exception in many areas, tiny homes are timely and politically correct. In 2022, North America is expected to dominate the market due to changing lifestyles and the rise in investments and initiatives towards the construction of tiny homes for both commercial and residential.
Many people who commit to a tiny home do so because they plan to travel in it. While this sounds awesome– imagine taking your house with you wherever you visit—in reality this resents challenges.
For starters, you need to have access to a U-Haul or a bigger truck to attach your home to, which can get costly. You also have to tie down most of your belongings in the home so that they don’t fall and break while moving. The tiny house may also be damaged when driving down highways because of the intense wind speeds.
Having said this, freedom always comes at a price, even when it’s the freedom to take your house with you on vacation.
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