The tiny house movement is big and getting bigger! From Facebook to Pinterest to TV tiny homes are the launch pad for many people choosing to declutter and live a more simple life. They’re holding on to essentials and ditching all of the things they don’t need like too much square footage. On average tiny houses are less than 1,000 square feet compared to the average American home of about 2,300 square feet. The trend is becoming a new way of American life for Millennials as well as Seniors.
Most Millennials are not interested in following in their parent’s footsteps when it comes to struggling to pay the mortgage or acquiring lots of “stuff” which adds clutter and more responsibilities to their lives. Likewise today’s Seniors are ready to retire, relax and let go of all the commitments involved in maintaining a large home. Their kids are gone and they want to enjoy their grandchildren which makes living in a tiny house a way to go.
Tiny houses cost less to build and maintain which is especially appealing to Baby Boomers (ages 55-64). Studies show 1 out of 5 have not saved enough, or any, money for retirement. Selling their current large home gives these Baby Boomers savings for retirement, money to travel and a chance to pursue other goals that they’ve put off for years.
Along with less clutter tiny houses give the wallet a break with lower costs in taxes, energy bills, repairs and insurance rates. In some states you can build your tiny dream house starting as low as $10,000 and up to $35,000. If there’s a mortgage the interest may be under $10,000.
Minimal living doesn’t mean minimal style. There are a variety of tiny house designs and floor plans, from Ranch, to English Cottage, to Contemporary Modern that maximize function and style. Some have a bedroom on the first floor with a loft. Some have automated Murphy beds that hideaway. A multi purpose kitchen island can also serve as a desk and have drawers and cabinets for additional storage. Likewise storage can also be designed into the walls of your tiny house. Making the bathroom a “wet room,” covered entirely in tile, eliminates the need for specific shower space. Builders often have a variety of ideas to combine space such as a bedroom/office with a convertible bed/desk. Many tiny homes are on wheels which gives the owner freedom to travel with their home.
Innovative floorplans, bright colors, and bold designs make it very appealing to live large for less in a tiny house. In fact my husband and I are considering going tiny ourselves. If living in a tiny house lets me pay off my mortgage, buy more property and travel then sign me up! Are you interested? For more information on tiny houses and any real estate questions call Gail Crosby at 323.428.2864.