Why people are going tiny? The first reason is financial. With unemployment at an all time high what was once a fad is quickly becoming a movement with more and more followers. But how is going tiny a financial benefit?
To begin with, building a tiny home is less than a traditional home. The Spruce reports that tiny house building averages $60,000 and under for 2019. With traditional building averaging $175,000 for what is considered a small starter home and most families spending upwards of $250,000-$500,000 it is easy to see the cost benifit of building or buying tiny. The other side of the upfront cost is how much overall debt people have. According to statistics 69% of tiny home owners have no mortgage, compared to only 15% of traditional home owners.
The other financial bennifits are a direct result of the tiny living lifestyle. As mentioned above being mortgage free means and increase in savings. Living tiny also means that there is a significant drop in spending, with so little room, only nessasary and important items are kept in the home. Also with fewer possessions there is a lower replacement cost of home items.
Living tiny is also touted as a simplified, healthy, and green lifestyle. This lifestyle means that there is less time and money spent on cleaning, more time spent outdoors, and less utlities means greener living. With more time to spend on the things that matter, and more money saved, it’s no wonder why living tiny is appealing to more and more Americans every day.
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