As the prices of traditional homes are rising yearly, the need for an affordable dwelling has made tiny homes a popular choice in the U.S. Not only are tiny homes an affordable investment but there are several other perks associated with tiny living that has given them such a huge fanbase. Tiny homes may continue to thrive as the builders focus on architectural space-saving, off-grid sustainable living, and contemporary minimalism. Even the T.V. production houses have a series on tiny homes, making this lifestyle a fascinating idea motivating Americans to take a step toward minimalism. “Minimalism” is not a recent idea, but many now consider tiny homes “living without limitations.” Although tiny homes might be more cost-effective than traditional homes, many financial challenges must be considered.
Buying a tiny home from any random manufacturer is detrimental as tiny homes do not qualify for a traditional mortgage. Instead, trust a certified and established tiny home builder who can offer you in-house financing or connect you with a lender. You will find many tiny home builders at TinyHouseMe. We showcase different tiny home models and connect you with hundreds of tiny home builders under one platform.
Fact Alert – Tiny Homes are mortgage free
Buying a home with cash is a dream for most people, which is why a mortgage loan is a common choice. However, committing to a mortgage loan can leave you with a huge monthly payment, which has made many homeowners choose a tiny home to lead a mortgage-free lifestyle. As per Comfy Living, 68% of people living in a tiny home lead a mortgage-free life. Tiny homes are small structures of less than 400 square feet; and when the size gets smaller, it costs less to buy or build. Moreover, the housing expenses are as low as $600 per month when you live in a tiny home, as per Comfy Living reports. This is a good reason why 55% of tiny homeowners have more savings than traditional home dwellers. By scaling down the size of the tiny home, the homeowners enjoy an affordable lifestyle without compromising on comfort. However, if you need a loan for a tiny home, connect with TinyHouseMe to get helpful resources in planning and financing the tiny home.
Tiny homes are great for 1st time home buyers
The tiny home is an affordable housing solution for starters. The pandemic caused many renters to get evicted from their homes. These people needed an affordable housing solution, and the demand for tiny homes increased from then. Even millennial buyers prefer buying a tiny home as their 1st house because of their affordability. Similarly, the baby boomers seek out tiny homes as they want to retire with less and without the hassles of paying monthly mortgages.
Additionally, natural disasters have lowered the number of homes available in the U.S., making tiny homes a sought-after option for many. Beyond the benefits of living in a tiny home, the spaces make for a good rental income. However, tiny homes are not permitted in all areas of the U.S. Some cities are tiny home friendly, while others are yet to legalize tiny home dwelling.
Tiny homes are a great investment for property owners
The customized and highly functional ADU kits revive the multigenerational family staying on one property. You don’t have to pay for assisted living and can have your old parents and in-laws stay in the backyard. Additionally, an ADU kit installed in the backyard can help homeowners reduce mortgages as one can now generate a rental income through its source. However, the return on investment depends on the sale price and other factors. The tiny home is a good investment for any property owner, and they are doing well as Airbnb rentals. Get the perfect tiny home customized by a trusted tiny home builder. Searching online for tiny home builders is a huge challenge. Many customers prefer to look at different home models, choose depending on aesthetics and functionality and then connect with the builder. At TinyHouseMe, we showcase divergent tiny home models and help you connect faster with the builders. Our online directory makes the purchase easier by providing multiple quotations from different builders and fixing an appointment with your local builder at the earliest.
Millennials are the biggest tiny home buyers
Amid the pandemic, the demand for tiny homes and ADU kits has seen an upsurge, and millennials are the biggest buyers in the market. It’s because the millennials are investment-savvy and are aware that tiny homes are mortgage-free investments and can also become a potential source of rental income. Tiny homes cost a fraction of an average single-family house, but before purchasing one, you must do the legwork to ensure the house is legit.
Final Words
If you are looking for a tiny home built as per the local jurisdiction rules and regulations, then connecting with a professional tiny home builder is imperative. TinyHouseMe channelizes different home builders under one platform and helps you connect with them. Join today to be in the front line for your matched builder.
