Tiny house hunting, living, and buying it has been a trend for the last few years but is the fad really all that it’s cracked up to be? I know a lot of people are considering either selling their existing home and moving into a tiny house or just downsizing because they think it’s less expensive but is it really? Here we talk about 10 reasons you may not want one of those tiny houses.
10 Reasons You May Not Want a Tiny House
#1. The price can be deceptive.
Obviously, the goal is to save money and when the average cost of a tiny house is just $75,000 when it’s already built, that sounds like great savings but is it really saving you money overall? Remember, you’re leaving out a lot of things that an average house would happen including a yard, and of course, space.
#2. Cost per square foot can be higher.
Tiny houses on average cost about $300 a square foot but a regular size home cost about $100 per square foot. Most contractors have to maximize that small space and in doing so, every square foot packs a punch.
#3. It may cramp your lifestyle.
No pun intended, but space is limited, obviously, and this might cramp not just your back in the morning but your lifestyle. These tiny homes are on average about 1/10 the size of a normal home.
Related: Things to Consider When Contemplating a Fixer-Upper
#4. You may need to use a storage facility.
If you really want to keep a lot of the items you had in your own home plan on spending money on a storage facility, which can add up.
#5. You will still need to buy some land.
Depending on where you’re located, lots can be anywhere from $10,000-$400,000, which pushes the cost of a tiny house way up.
#6. You need to check with local laws.
Some places are zoned only for stick built houses and may not allow a tiny house. The last thing you want is for the government to be knocking on your door telling you you need to move your home.
#7. Utilities might not be less expensive.
You would think that heating a smaller space would cost less but surprisingly, hooking up to city or RV Supplies can cost the same as a bigger house. Do you want to go completely off the grid? Then you have to weigh the costs of water tanks, propane heaters, solar panels and other supplies.
#8. Appliances are not cheap.
If you’ve ever replaced an appliance in an RV you know they cost about 3 to 4 times that of a normal-sized appliance.
#9. Insurance can be expensive.
Not all tiny homes are insurable. If it is movable, it may not conform to code and insurers may need additional coverage.
#10. Mortgages cost more.
If you are selling your home and can use all the equity to purchase a tiny house, you won’t need to worry about lenders, but if your financing, you might be surprised to know the buying a tiny house could cost you more in origination fees, interest rates, and application fees.
These are the most common but you won’t want to forget about getting your mail, where your utilities are coming from, garbage pickup, resale value, and the fact that you will be living in close quarters with your family. Do you have enough patience for that? Perhaps, but is definitely something to consider.
Contact me today to find out information on tiny houses in and around St. George and Washington or a list of current lots available zone for tiny house construction.