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Is It Worth Living in a Tiny House? The Benefits of Downsizing

Tiny houses are an excellent idea for anymore who aspires to live debt-free. They are also proven to be environmentally friendly since they do not have a major impact on it. The small spaces are just large enough to let you have everything that you need to survive.

The International Code Council stipulates that tiny houses must be around 400 square feet or less. Notably, they could be as small as 60 square feet in size. A tiny house could be on wheels, some kind of a trailer, enabling the owner to drive it around and park in various places. It may also be a freestanding structure with or without a foundation.

More and more people are moving into small homes for various reasons. Some move since the small spaces are more affordable compared to the larger one while others move to try conserving the environment. The tiny houses make the owners embrace their impact on the environment and eliminate unnecessary possessions.

Types of Tiny Homes

Many types of tiny homes exist. At the higher end, there are the traditional stick-built or modular homes that are set up on permanent foundations. On the other hand, the common style tiny houses are built on a mobile trailer using conventional construction materials.

In most cases, it is possible to change a shed or storage container into a tiny house by making use of the structure as the home’s shell. However, no matter how one constructs their tiny home, they might encounter common problems with it.

Even though every tiny home is as unique as the fingerprints that set it up, building the tiny houses on wheels has also become a major theme in the minimalist world. Not only does this type of home offer the ability to have any vantage point from the front porch that any road can lead to, but the homeowner can also avoid complex building regulations.

Since these homes on wheels are typically set on trailers, the owner’s registration comes from the Motor Vehicle Department. Therefore, the zoning and building needs and standards that are set with traditional home building do not apply. But, the owner must consider the amount of weight the trailer can hold when designing their home even though building the tiny homes on wheels involve less paperwork than the traditional homes.

It is possible for the weight of the trailer, the home itself, and all belongings in it can add up rapidly. For that reason, most homeowners of tiny these houses on wheels choose to use a double-axle trailer. This type of trailer distributes the weight of the tiny home between two axles which doubles the total weight that the trailer can support.

Major Benefits of Tiny Homes

The primary benefit associated with downsizing into a small space is the cost savings. Since the space is considerably small, the owner contends with small monthly payments, lower electricity bills, and lower maintenance costs. Moreover, the house costs less when purchased upfront and the rental payments are also considerably low.

A tiny house needs fewer materials to construct and occupies less land. Also, it needs less electricity to run, in turn, producing less emission. The small space is much easier to clean, organize, tidy-up, and maintain. If the tiny home is on wheels, the owner can relocate to a new neighbourhood without moving all their stuff.

Are Tiny Houses Worth It?

Several factors must be considered when thinking about downsizing to the tiny home life. These tiny houses are worth it for people who enjoy getting creative with their space and those who want to minimize their environmental impact. Also, it works perfectly for people searching for an affordable housing situation and those who want to live in areas where tiny homes can be parked or are available.

Those seeking to get more intimate or interactive with their families will find the small spaces worth it. People will spend more times together as opposed to the big houses where family members spend a lot of times away from each other in their separate rooms.

Nonetheless, the biggest factor to consider is the fact that the owner will be living in a house the size of a studio apartment. The space will feel smaller if the owner has a partner, children, and pets. If one is the type of person who thrives while living in close quarters, then they will probably enjoy living in the tiny houses.

Here is the owner of the tiny house sharing her pros and cons about living in a tiny house. We recommend to hear what she have to say.

How Much Do Tiny Homes Cost?

Data from previous studies show that the tiny houses are normally quite affordable compared to the regular houses. The average regular-sized house has a purchase price set at around $290,000. However, the purchase spans over 30 years which includes a down payment, maintenance, and mortgage. Thus, a $290,000 house may end up costing up to $1 million.

On the flip side, the tiny houses available in the current market may averagely cost between $10,000 and $60,000 over the same period. Generally, the tiny houses are cheaper than the average homes. Nevertheless, a small apartment in an affordable town could be comparable in cost.

Another major determining factor in the price of a tiny house is whether you decide to build it yourself or buy a ‘prefab’ tiny house. Some of the prefabs can easily make your small space worth more than the $40,000 threshold. Some of the luxury tiny houses can cost a lot more going for up to $150,000.

Strangely enough, the small size does not make these tiny houses necessarily cheaper to build. Studies show that the typical tiny house comes more per square foot to build compared to the larger houses. The reason partially is that the larger constructions make for more efficient use of resources.

According to HomeAdvisor, the normal 2,000-square-foot home costs roughly $150 per square foot to build. On the other hand, most of the companies that build the tiny homes charge more than $300 per square foot.

To prove you that tiny houses can be breathtaking just take a look at his tremendous home the couple has built:

“This ultra-modern tiny house on wheels is truly something to behold. With its jet black exterior, super clever design and incredibly high quality of craftsmanship, this tiny home are sure to blow your mind.”

Benefits of Downsizing

It is becoming common for many people to downsize their living arrangements. Downsizing comes with many advantages that are responsible for attracting many people to go that way. This arrangement is proven to reduce expenses, increase cash flows, and enable the owner to add more to their retirement assets.

All these benefits paired with other lifestyle benefits such as flexibility and freedom make downsizing more prominent.

Reduced Costs

Reducing the size of one’s living space has several financial advantages like:

  • less maintenance costs;
  • reduced mortgage payments;
  • lower insurance costs;
  • lower utility costs;
  • less real estate taxes;

All these reductions in expenses enable the homeowner to save significant amounts. It is now up to the homeowner on what they do with their extra cash. One can invest for retirement, reduce loans or credit cards debts, or use the money for travel and enjoy life’s rewards.

Reduced Clutter

Choosing a downsized lifestyle is a major motivational factor that enables a person to embrace simplicity by getting rid of the things that they do not absolutely need or value. De-cluttering should not be thought of as parting with memories. Instead, it should be thought as moving into a new phase of life that is less stressful and more fun or relaxing.

The process of de-cluttering can be overwhelming. It is advisable to start as early as possible to determine the important belongings and those that can be eliminated. Some of the items are easy to get rid of while others have sentimental value which makes them hard to dispose. To make the process easier, it is advisable to categorize the items as those that one should:

  • donate;
  • keep;
  • trash;
  • give to relatives;
  • recycle;
  • sell;

The items that the owner cherishes or those that have sentimental value should be kept. Those include the items that have fondest memories. The items of value that one does not need should be given to family members so that they can also enjoy them.

The valuable items that one does not want to keep can be sold at a yard sale or on any other available marketplace. They can also be donated to charities. Finally, recycle all the items that are recyclable and throw away the trash.

Simplified Lifestyle

Even though it is not the primary focus of downsizing, a significant positive side-effect of getting a small space is a simpler lifestyle. The tiny house reduces stress and routine tasks. Moving into a townhouse or a smaller space does away with many tasks that keep people away from doing things that they can only dream about.

Particularly, fewer belongings and a smaller home:

  • cost less to maintain;
  • need less routine yard work;
  • take less time to clean;

That means more time and money is spared to enjoy activities that one wants to do and it also enables the homeowner to live a more balanced lifestyle. Downsizing enables people to be more focused on goals and spend more time doing other important things.

Despite everything sound amazing, please make sure to watch this quite old but very important documentaries about living LEGALLY in a tiny house,

The Takeaway

Small spaces help people keep on a budget by minimizing shopping sprees since there is inadequate space to keep too many additions. Whenever one is trying to save money and maintain their credit green, downsizing the home is a practical solution. Thus, it is worth living in a tiny house since the benefits of downsizing are many.

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