Tiny homes are having a big moment! With their budget-friendly price tags, smaller carbon footprint, and cozy appeal, it’s no surprise that more and more home buyers are looking for tiny homes. But how much can you expect to really spend?
First, it’s important to mention that “tiny homes” can be super diverse! One of the most popular types are 150-500 square feet houses that are built on wheels, like a trailer. Other small styles include “micro apartments” (typically found in major cities), and petite single-family homes, often around 700-900 square feet. There’s no official square footage size for a home to be considered “tiny”, but they’re often under 1000 square feet.
Tiny homes that are built on wheels can vary in price, but many models start around $20,000-$30,000. The more custom and quaint styles (like the ones you see on the popular tv shows) often range from $60,000-$100,000. If you’re interested in doing much of the work yourself, you may be able to build a simple tiny home for under $15,000 – although experts warn that this option may only be feasible for the experienced DIY-er!
While tiny condos and single homes are typically eligible for a mortgage, it’s unlikely that you’ll be able to secure a conventional home loan on a home built on wheels. Some buyers have had luck with personal loans or even a car loan (this option also works for traditional mobile homes), but most tiny homeowners recommend saving up and paying cash if possible. For more information, visit thetinylife.com