Tiny Home vs. Regular Home: Which is a Better Investment?
Have you heard about Tiny House Living? It’s a new trend that’s all the rage for people on a budget, students, and young professionals just starting out on their careers. While tiny homes are admittedly cheap to maintain, very cute, and easy to build, are they actually worth the effort? Here are 3 comparisons between having a tiny home and investing on a small, albeit regular home:
Most Tiny Home owners have good people letting them live on a small plot in their backyard. While that’s cool and cheap for the next 2-3 years, such an arrangement cannot guarantee you permanence. What if the owners of the lot you are living in decide to move out or they end up hating you for your blaring music? If you are hell-bent on living on a tiny home, you still have to purchase a lot to put it on to secure your shelter for the long-term. Wouldn’t it be better to buy a lot with a (small) house in it after all?
Renewable energy sources and efficient water tanks can make you live a simple, comfortable life in a tiny home, but that means bothering the neighbors every few days or so to replenish your supplies. And let’s not mention how you’ll dispose of human waste. While these can be easily addressed every few days, the demands of a steadily-rising career and growing family may make it harder to take care of these in the long run. Plus, we don’t know until when your “landlord” will play Good Samaritan, right?
Sure it’s fun to build a DIY Tiny Home and the difference in cost between building a Tiny Home and Regular Home is astronomical, but are you spending money for the long-term? Building your own tiny home may satisfy the worker in you, but it doesn’t mean you are actually investing well for your long-term future. After all, even current tiny homeowners don’t expect to live in a tiny home for five decades, let alone see their tiny home survive storms, tornadoes, and other acts of nature.
Living in a tiny home may suffice for some people, but it is difficult to see your self living in a tiny home when you’re 70, with the owner of the lot you are living in shooing you out, and with the day-to-day task of replenishing your supplies and climbing up and down a steep ladder to you bed space. Tiny homes may just be a stepping stone for eventual regular home ownership.
Owning a home may be a fearful task, but it need not be difficult if you start with small, affordable homes. They may cost more initially, but at least you are guaranteed to have a place to live in when you're old without worrying about a landlord, utilities, and a human waste pot you have to clear every few days. Plus, buying a home early means you end up paying for the home entirely before you retire.
If you are on a strict budget but would like to secure your own and/or your families future, talk with Cain Realty Group today. We will help you find a home you can afford that you can truly call your own.