Is A Tiny Home Right For You?

Everybody thought it will just be a passing fad, but tiny houses are proving that they are here to stay.

"Why all the fuss about tiny homes? While some expected them to be a passing fad, they have proven themselves to be a popular alternative to the rising prices of megahouses," said ConstructionDIVE.

"For some, the tiny house movement has become a way of life, adjusting to a smaller space and fewer possessions, with a goal of saving money and focusing on relationships and experiences," reports US News.

So what do you think about getting rid of 90 percent of your possessions and embrace living tiny? Here are some things to ponder on if you are thinking of going for a tiny home according to Realty Times:

You want to be unencumbered

Move your house to different locations whenever or wherever you want to - as long as it's allowed.

"Building codes in most municipalities set a minimum size for dwellings. Some tiny houses on wheels function as RVs, but most areas also ban full-time RV living outside of an RV park," said US News. "This is the biggest obstacle for most people. You might be able to build a cottage as an accessory unit on a lot with a larger home or in a rural area with a liberal zoning code. Or, you might need to build it on wheels and keep it in an RV park. If you are considering getting one of your own, you should know the basics on saving for an RV down payment. People should really know where they're going to keep it before they build it." 

Because you're super organized

If you are not the biggest fan of keeping your things organized and keeping track of your everyday chaos, then a tiny home may not be the best option for you. "Living in a small space requires you to rethink your entire relationship with stuff," said US News.

Because you want financial freedom

A traditional home puts you in a financial risk of not being able to fully pay a mortgage, but you can own a tiny home outright  "from $35,000 to $55,000 (and even more for a high-end custom build)," said ConstructionDIVE.

Because the rat race makes you feel like, well, a rat

Do you belong to those whom "Keeping up with the Joneses" is a foreign concept? Not everyone is fond of the idea of having to work harder and longer only to pay off mortgage.