If you’re going through the steps to buy a house, one step you should add is determining the size of the house or property. This could have an impact on your budget and saving you money, but also what needs you will have.
Most people decide if they need a large home or a smaller home. One thing that not many individuals or couples consider are those trending tiny houses. There is hardly any room, but only you can determine if a tiny house fits your lifestyle.
Tiny homes aren’t for everyone, however there are some perks to owning one if you can make it work. However, what it all comes down to is when you should consider building a tiny house.
This is no surprise. With a tiny house will come lower expenses. It won’t take much to keep it running. Electricity will be cheap, heating cost will be cheap, and even the costs you endure for furnishing the house will be cheap because you can’t over buy.
In the long-run, you will save a ton of money by living in a tiny house. Also we’ll get to a reason a little later on, but chances are you won’t spend a lot of time in your tiny house.
Tying into expenses and costs, you most likely won’t have a mortgage with a tiny house. The most expensive thing might be the land. The materials needed to build it will be minimal, and the labor hours will be shorter than if you were to build a normal or larger home.
If you have money saved up, chances are you will be able to build it and pay for it outright. There typically isn’t a need to seek a lender or endure more debt. Actually, a tiny house can aid in getting you out of your other debt without having to pay for a mortgage ever or long-term.
Maintenance on a tiny house will be fairly easy. Whether it’s you fixing it or you hire someone to fix something, it won’t take much. If you need a new roof at some point, it will be a breeze compared to putting a roof on a normal size house. If you need new plumbing run or pipes need to be replaced, it will be no problem as you won’t have to run them across a long basement.
The cost of maintenance will also be minimal.
We hinted at this reason, but you may build it because you love the outdoors and spending a lot of time in nature.
If you spend a lot of time camping, traveling on outdoor excursions, or maybe just traveling in general, there is no reason to spend money on a large home. It seems like a waste to have a big house if you’re not going to spend a lot of time in it.
If you find yourself not home much, consider moving into a tiny house.