Purchasing a tiny house and living in one doesn't follow the same, predictable path as purchasing a traditional home. There are some crucial things to consider before purchasing a tiny house. The additional work that it may take to buy and live in a tiny house will be well-worth it once you're living tiny and affordably!
Here are 5 things to consider before taking the tiny house plunge.
1.) What Are My Tiny House Needs?
Just because tiny houses are all...tiny, doesn't mean they are a one-size-fits-all solution.
Remember, there are many housing situations and circumstances that a tiny house can resolve. Family of four? Single? Couple? Have pets? Need to tow it frequently or just here and there? Off grid? On grid?
What if you can't go without a hot bath that you're so accustomed to taking? Perhaps your living area means very little to you and you've prefer to allot more square feet to the kitchen which is where you spend most of your time?
Do you prefer to allot square feet to a downstairs sleeping area, or is putting your sleeping area in the loft ok?
Before you start shopping for a tiny house, think carefully about what your specific must-haves are. If you do, when you purchase your tiny house, chances are you'll be happy with your purchase.
2.) How Will I Pay For It?
In recent years, banks and lending institutions have taken note of the popularity of tiny houses and have implemented lending programs catered to their growing demand.
Another option is to pay cash for your new tiny house. This may mean making some sacrifices for an extended amount of time, but the payoff once you own your tiny house can be tremendous.
On average we see household related expenses go from 40% of household take home pay to about 10% (once the house is paid off). What would you do with the remaining 30% of your income that you get to keep?
3.) Where Will I Put It?
You've made the decision that tiny house living is the right housing choice for you. The next question becomes "where do I put it?"
There are many options for parking your tiny house. Enough of them in fact that just about anyone that wants to live tiny can do so. Here is a quick roundup of ways you can park a tiny house that I prepared for you in this video.
4.) When Do I Plan To Purchase My Tiny House?
If you're fully committed to your plan to purchase a tiny house, deciding when you want to purchase yours is a big factor.
If you plan to have a builder build one for you, many of them have a build schedule or take several months to build a custom one for you. If you plan to purchase a tiny house listed with us, the inventory is always coming and going, so it's a bit of a "hitting a moving target" scenario.
If you plan to purchase a tiny house, it's best to give yourself some time before actually needing it. We can assist you with finding the perfect tiny house that suites your needs.
5.) How Can I Tie All Of This Together?
If you've made it this far into the post, you're probably thinking to yourself "this is going to require some homework." And you'd be right.
Fortunately, Tiny House Listings helps people go tiny every day. We have an entire staff dedicated to helping you find the right tiny house, securing financing, parking, insurance, schedulding delivery and even negotiating price.
If you need help purchasing a tiny house, click here to schedule a 5-minute tiny house consultation.
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