Tiny House, Giant Trend

Last Updated on January 22, 2020

They say good things come in small packages. Buying a tiny house is becoming one of today’s latest trends among younger home buyers across America, as they are opting to live in considerably smaller spaces to reduce housing costs, enjoy more financial freedom, and live a more productive life (according to them).

Tiny houses are typically between 400 and 1,000 square feet and can be designed either for traveling on a tow behind a trailer, or for being built on a foundation (similar to traditional housing). They are not for everyone. It takes a certain type of person to adjust to living in such a small space. But at the same time, it’s the small size and smaller cost to run that are the reasons this type of home is becoming increasingly popular.

According to the online resource TheTinyLife.com, the average cost to build one of these micro homes is about $23,000. However, this price tag can get as high as $100,000 if the homeowner chooses to upgrade it with luxury amenities like quartz countertops and state-of-the-art appliances. This most often defeats the purpose of purchasing a small house, since the goal is to have little to no mortgage – which appeals to those who are looking to downsize, or for retirees seeking a turn-key lifestyle.

These self-contained living spaces can still have the comfort of a traditional home, but obviously on a much smaller scale. Kitchens will typically have only a two-burner stove with limited cabinet and counter space, and the bathroom consists simply of a commode and shower. The bedroom may be in a loft to free up living space downstairs, or in some cases the bed hides away. Having less space to maintain has great appeal for those who want to enjoy their free time and not be tied down with weekend chores and home projects.

Those wanting to live an urban lifestyle have come to realize that it is difficult to find affordable housing in a large city, which makes considering tiny houses more appealing. With rental costs increasing across the country, tiny houses are becoming a great alternative to high-rent apartments and high-priced homes. The city of Dallas, TX, for example, has the tenth highest number of tiny houses for sale in the country (and is tied with Irving, TX and Nashville, TN). Other places that include Aurora and Denver (in CO), San Antonio and Austin (in TX), Oakland, CA, and Seattle, WA are seeing a surge in the sale of tiny homes. Coined as one of the most expensive cities to live in the country (with the median home priced at around $1 million), San Francisco, CA has seen an increase in the sale of tiny homes. Portland, OR is considered the hotbed for tiny houses, since the median rent in the city is among the top 20 highest in the nation.

For some people, larger living spaces and creature comforts are a great trade-off to saving money and freeing up personal time to enjoy life. As we see the tiny house trend continue, don’t be surprised if you see them popping up in your city.

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