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What is a Tiny House?

by | Nov 6, 2018 | Real Estate Glossary

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It’s no surprise that tiny homes are growing in popularity. So what’s the big, er small deal? What is a tiny house anyway? Why are they growing more and more popular? Are they a good investment?

On the downsize

Put simply, people all over are choosing to downsize, declutter, and generally simplify their material possessions, and in turn maybe their lives. The tiny home trend has evolved into a social and ecological movement. So what classifies as a tiny house? On average, tiny homes range from 100-400 square feet, whereas a typical single family home averages approximately 2,400 square feet. There is no keeper of tiny homes, or defined lines on what can classify – but most tiny livers reside in 400 square feet or less. Tiny house are both purchased and rented, and can be set to a foundation or mobile and on wheels. The owners often construct the homes from scratch, or purchased online already assembled and shipped directly to you! Tiny homes come in all colors, shapes, sizes, and floor plans allowing their occupants to customize their efficient space.  

Tiny house financial freedom

But – bigger is better, right? Not necessarily. Many tiny house owners claim they’ve gained more time, financial freedom, and have significantly decreased their carbon footprint by downsizing. If you’re curious about your residential carbon footprint you can learn more here. The biggest reasons for most however, are a lower cost of living and a smaller impact on the environment.

Am I making a good investment?

In an article posted by The Tiny Life, “68% of tiny home owners have no mortgage (compared to 29.3% of all U.S. homeowners). It’s no surprise then, that more tiny house owners (78%) own their own home—plus, 55% of tiny house owners have more savings than the average American. 32% of tiny home owners have more than $10,000 tucked away for retirement.” Some would argue that’s a good investment. No mortgage means more financial freedom, and fewer strings attached. However, others would argue the opposite. According to Forbes, the tiny house trend is a fad that will pass. They spout that there’s little difference between a tiny house and a trailer home, and that we don’t see a significant amount of the population living in them long term currently. They also claim the supply for tiny house is much larger than the demand, so selling your tiny house may be difficult later on. What do you think? A solution for the environment and mentally material population, or a passing fad?

Looking to buy a Tiny House?

Trelora can help you find the tiny house of your dreams. When you hire Trelora, you pay just 1% to sell your home. You’ll also get best-in-class customer service, and a team of expert agents who close hundreds of deals per year. And keep in mind, especially if you’re moving or you have friends in other states, that Trelora can help you in Atlanta, Charleston, Charlotte, Denver, Los Angeles, Phoenix, Raleigh, Sacramento, Seattle and Tucson. In the meantime, please stay healthy and safe.

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The information contained in this blog is for general information purposes only, and while believed to be accurate, Trelora assumes no legal responsibility for accuracy. Information provided within should not relied upon as legal advice. Please consult with your local advisors for independent information regarding availability and applicability in your market.