- Ben Chun
The tiny home movement does not seem to be losing any steam, despite the many obstacles including city zoning, health regulations and so on. It's been a while since I've addressed this issue and a recent article that came to my attention had some interesting information to share for those interested in tiny homes.
The primary advantages of tiny homes are financial and environmental. Most tiny homeowners have little or no mortgage and lower utility costs. Additionally, because of the smaller square footage, tiny homeowners can often splurge on higher-end finishes and features whose cost would be prohibitive in a traditional home. Some of the smaller home features such as specialized appliances, composting toilets or solar panels can be more costly upfront, but the lower total cost still greatly outweighs a traditional home.
According to The Tiny Life, the average cost to build your own tiny home is $23,000, but this does not include land. People have also built some for as little as $8,000, and the typical cost of buying a move-in ready tiny home is $60,000. According to the article, 68 percent of tiny home dwellers do not have a mortgage as compared to 29.3 percent of traditional homeowners.
The main challenge is still the classification of tiny homes when it comes to zoning laws and where they can be placed. They're definitely an attractive alternative to our current high cost rentals and rising home prices.