Buying your own home is a life goal and dream for most people, but unfortunately can feel far-fetched. Facing looming debt, low-income and a skyrocketing housing market can make buying a home seem impossible.
The 2009 housing crisis left many Americans facing foreclosure, and brought back the popularity of more modest living. Minimalism has been a theory around forever, but in recent years, this idea of living without limitations has grown in popularity, giving us the “Tiny House Movement.”
Tiny homes continue to increase in popularity along with new architecture focusing on space saving, modern minimalism, and off-grid sustainable living. HGTV even has an entire series focused on tiny house living, continuing to drive the fascination and desire for this new age idea, that really isn't new age at all.
Shipping crates are being converted into dream homes. There are self-build kits being sold making the build-your-own home into an achievable reality. And we are seeing more companies offering to do custom tiny home builds to fit individual needs. Right now is a great time to hop on the Tiny House Movement and buy your tiny home.
Owning A Tiny Home Is A Dream Within Reach
Tiny homes can cost anywhere from $15,000 to $150,000, depending on if it’s pre-built and all the features, but the median cost is around $50,000. Saving up to purchase a tiny home can be much easier to achieve than the traditional down payment required for a home.
Compared to the median cost home in the US at $320,000, the price ticket on a tiny home is much more affordable, and with some added perks you could never get with a traditional family home.
Tiny homes are more commonly new builds, giving you the modern design and style you may not be able to afford in a traditional home buy.
Tiny homes can also be portable. Some are built on wheels, so you can literally park it just about anywhere. This concept is appealing to the nomadic lifestyle seekers, allowing them to own a home without limitations or commitment to a property. The flexibility of being able to relocate it can alleviate some of the commitment issues that can come with choosing a home.
If you end up choosing to sell your tiny home, the resale value of these homes stay high and can even increase, with the popularity continuously increasing.
Tiny homes are a solid investment that can even be a secondary home in the future or a rental property. Tiny homes do well on AirBNB because people get so excited to experience the tiny house lifestyle.
When owning a tiny home, most will agree the change to a minimalist lifestyle is invigorating. Possessions you once thought were necessary, are not. You get a sense of freedom and appreciation for simple things.
People should be able to afford their homes, and having a tiny house loan term that you can achieve in a few years makes more sense than the traditional 30 year.
It’s time to throw the traditions out the window and make your dreams come true.
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