Shopping for a home and making a purchasing decision is one of the most challenging decisions and times that a person has. Whether it is finding a home in your price range, finding a home in the area you want to live in, or finding a bank to finance your home, the process can get burdensome, scary, and often frustrating. However, a new trend growing among those shopping for homes has come up and offers another option.
Changing trends make the housing market one that can be unstable and have lots of changes. Those changes can result from interest rates, The availability of homes, and the economy.
However, the rising trend of tiny homes Is on the rise in every demographic shopping for homes.
In comparison to a regular size home, a tiny house is typically between 100 and 400 ft.². Conversely, a single-family home generally is 2500 ft.². If the square footage is hard to understand or visualize, consider 144 tiny houses on one football field. They all fit. If your interest is piqued and a tiny home sounds appealing to you, continue reading for the questions you should get answers to before purchasing a tiny house.
1. How Much Will a Tiny Home Cost?
A tiny house can cost as little as $8000 and as much as $150,000. The gap depends on the size of your tiny house and the amenities included in it.
Typically, building a tiny house is less expensive than buying a pre-built one. Many of the same amenities are included in a tiny house; they are just downsized. For instance, a washer and dryer are typically stackable and made for an apartment.
2. Will Your Tiny Home Have a Foundation or be on Wheels?
If you plan for your tiny home to have a foundation, you must also have the land for it. Young adults fresh out of college often opt to buy a tiny home and put it on their parent's property. A tiny house with a foundation saves money in the long run because it requires less maintenance. A tiny house with a foundation also owns the owner's equity.
Conversely, there are many benefits to having your tiny home on wheels. The main advantage is being able to move about freely. You can move your tiny home from state to state. You can also take your tiny house to a campground to get away with your family. However, keep in mind that traveling causes a lot of wear and tear.
3. Where Will You Park Your Home if it's on Wheels?
As stated above, the benefit of a tiny home on wheels is being able to move it around. With a little research, you will find subdivisions that cater to tiny homes. In addition to parking it in a family's yard, you can park your tiny home in state parks or campgrounds.
4. What are Your Plans for Utilities?
You must know the zoning for where you will put your tiny home. If you buy land that has utilities already installed, it will make a purchase less expensive than having utilities installed.
5. Have you Stayed in a Tiny Home Before?
If you have never stayed in a tiny home but enjoy the idea of living in one, you should consider renting before buying. This new trend is for everyone, especially if you aren't living alone.
6. How Can You Ensure That Your Home is Built to Standards?
Whether you buy a tiny home or build a tiny home, it is vital that you're home safe and well built and complies with building codes and standards. Scour the Internet for online metal supply chains and other building materials. According to buymetal.com, since they have inspectors to answer to, they "Ensure[s] a safe and well-built home that will thrive through many decades of nature's challenges.
7. Have You Taken Your Family Lifestyle and Size Into Consideration?
If you enjoy entertaining, a tiny home is likely not for you. More than four people in the tiny home will become uncomfortable.
8. Should You Buy a Tiny Home or Build a Tiny Home?
Your preference for buying or building a tiny home will depend on how much help you have and their level of construction knowledge. It is safe to say, don't start building a tiny home if you don't have the time and energy to devote to finishing a project of that magnitude.
As you have read, tiny homes are trending among those looking to purchase a home. A tiny home is small, and most people pay cash for them. While this trend may sound like fun, there are eight questions that you should ask yourself before committing to a tiny home. Those questions are above and should be considered if a tiny home is an option for you.
Author Bio.: Tracie Johnson
Tracie Johnson is a New Jersey native and an alum of Penn State University. Tracie is passionate about writing, reading, and living a healthy lifestyle. She feels happiest when around a campfire surrounded by friends, family, and her Dachshund named Rufus.