A new trend that has been slowly growing in popularity is building and living in a tiny home. Some of the reasons why more people are living in tiny homes include living debt-free, avoiding a mortgage, living more mobile, becoming more energy-efficient, or just want to meet the desire to live a more minimalist life with less material things.
Whatever the reason, there are a lot of costs that come with living in a tiny home. If you are considering going this route, you should be aware of these expenses that are often overlooked by new tiny homeowners.
Quality for durability
According to the Zillow article “What It Really Costs To Live Tiny,” one of the most surprising price tags is how much it really costs to build a tiny home. In the article, Johanna Elsner, co-owner and co-founder of the tiny home company called Perch &Nest, stated that a tiny home can run anywhere between “$40,000 and 60,000.” The reason for this is the necessity to make a quality tiny home. Often, these homes are mobile, and they have to sustain the wear and tear of being on the road, as well as the normal wear and tear a home that isn’t mobile needs to handle.
Limited utilities mean other costs
If you build a tiny home that cannot accommodate a washer and dryer, you have to factor in the costs of driving to a laundromat to wash your clothes. Other things that a normal house would have, like fresh running water, will also be something you have to consider. If you need the Internet, and you are mobile, you have to determine how much that will cost. All of these things can add up, taking a chunk out of the money that you had intended to save by living tiny.
Being mobile or buying land
Most tiny homes are mobile, but some are built on purchased land, which comes with their own headaches. In the article “5 Unexpected Costs of Living in a Tiny House,” zoning laws become a hurdle. “The jurisdiction in charge of the land you want to put your tiny house on will likely have laws on zoning, land use, building, and other red-tape headaches. None of these are cheap.”
There are also some caveats when it comes to being mobile. Your home has to meet certain road requirements, such as its measurements. On top of this, you have to pay for a truck and feel comfortable handling it with a trailer on the road. If you do not have the means or the desire to maintain a truck yourself, then you will have to pay someone else to tow it for you.
Get Informed Before Buying
It is not our intention to deter you from your decision. In fact, living in a tiny home could be one of the greatest decisions you make. However, before you throw down the cash to build one, it is important to follow up on some these financial considerations to figure out how you are going to handle them. The best thing you can do is interact with the tiny home community to learn from those who have already taken the plunge. To learn how people have adapted to their new lifestyle, you can watch this video posted by Zillow at the end of their article here.