If you have been following the real estate market lately, you have probably seen the recent introduction of “tiny homes” into the market as an alternative to buying or renting a traditional home. You may be asking yourself, what is considered a tiny home, why live in one, who are the tiny home builders and developers in our area, and what can I expect if I go tiny? We are here to answer those questions and help you determine if you could live tiny!
Why purchase a tiny home?
- More affordable home ownership. It should not come as any surprise that tiny homes are most popular in areas with exceedingly high home prices and rents.
- Eliminate or significantly decrease your mortgage. Purchasing a tiny home can free up a large portion of your income for things like retirement, travel, starting a business, etc.
- Decrease your carbon footprint. Environmental sustainability is a major benefit to living tiny.
- Travel with your home. Many tiny home options allow you to mobile in your home.
- Eliminate all the stuff! It’s no secret that tiny homes do not provide you with much storage. If simplifying your life and only having the necessities is appealing, going tiny might be right for you.
Amazon.com recently made headlines when they sold out of a tiny home in minutes. The prefabricated home was sold for $7,250. While that price tag is appealing, keep mind that prime is not delivering your home “move in ready.” So now, what can you expect when you purchase a tiny home?
- You need a place to put your new home. If you intend to leave your home in one place, you will need land. Give us a call and let us help with finding the right piece of land that is zoned to allow tiny homes.
- You need a foundation. Prefabricated homes from Amazon.com and other retailers still require a foundation or base.
- Plumbing accommodations will need to be made.
- Electricity will need to be run through the home. Solar might be a good option for a tiny home owner looking to decrease their carbon footprint, but the home will still need to be wired.
- Insulation will also be needed to ensure that you are able to keep your home temperature controlled.
The average tiny home is around 500 square feet. If you want to downsize, but need a little more space, a tiny home estate or micro estate might be a better solution. This option can provide you with more amenities and storage while still allowing for most of the benefits of a tiny home. There are builders in the Phoenix area that build custom tiny homes. Custom will cost you more, but allow you create the space that is right for you. Let us know if you want to speak to one of these local builders and we will connect you.
Don’t forget to consider going tiny for a vacation home! A traditional vacation home may be out of your price range or you may simply just not want the maintenance. Consider purchasing a tiny home instead for those quick weekend getaways. You can even check out Airbnb.com and VRBO.com to make a reservation at a tiny home and see if it will be right for you.
What are some other uses for a tiny home?
- She-Shed or Man Cave.
- Guest House
- Don’t forget to check with your HOA if you are considering one of these options.
Tiny homes are growing rapidly in popularity. There has been a recent development of tiny homes in Tempe and plans for others.
Would you like to learn about your options for buying a tiny home or a traditional home? Give us a call today: 480-281-3078
And for the full scoop on tiny homes, don’t forget to watch the video.