When the economy took a downturn, people began to realize that there is a need to do more with less. Better food on a budget meant the revival of gardening. A reduction in job opportunities meant more home businesses would start up. And, for many, a lower income meant the need to scale back on possessions and big purchases.
Homes are one area where we’re seeing a new movement – a trend towards tiny homes. This movement is exactly what it sounds like, a trend toward living in smaller homes that range in size from 500 square feet all the way down to 80 square feet – the size of many bedrooms. The average tiny home measures in at 186 square feet.
Some of these homes are built on a permanent foundation, and others are built on wheels for easy transport. While you can purchase pre-manufactured tiny homes, there is also a DIY trend towards building your own. Building your own tiny home allows you to customize each nook and cranny to your lifestyle. Most things need to have a dual purpose in tiny homes due to the space constraints, so getting to have a say in those purposes can make life in a small space more enjoyable.
What most tiny homes have in common is affordability. According to The Tiny Life, the average cost to build your own tiny home is $23,000, whereas the average cost of a standard sized home in the US is $272,000! That’s a huge divide.
The affordability factor impacts the debt carried by tiny home owners as well. Of tiny home owners, 68% do not carry a mortgage whereas only 29.3% of standard-size home owners are mortgage free. In addition, 89% of tiny house owners have less credit card debt than the average American – and 65% of tiny house owners have zero credit card debt.
While tiny homes aren’t for everyone, they are a great option for people that are striving to scale back and live more simply. The tiny home movement is sure to see more momentum in the coming years as people continue to re-focus on the simple things in life.
Curious to learn more about life in a tiny home? Blogs are popping up that chronicle the lives of tiny home owners. One of these blogs, Tiny House Giant Journey, follows one couple as they travel the US in their tiny home for a year. You get to see first-hand what life in a tiny home is like through their eyes. They also have a great list of resources for anyone interested in living in a tiny home.
Have you considered joining the tiny house movement?
Feature image courtesy of Tammy Strobel