Tiny House Cost: An Investment In Yourself And Your Future
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Tiny House Cost: An Investment In Yourself And Your Future

Isn’t tiny house living more of a college student or confirmed bachelor type of lifestyle? The answer is yes. Currently most people living in tiny houses are single, college student, and artist types. Tiny house living is an extremely good fit for those lifestyles and a wise choice when it comes to both finances and happiness. I want to make the argument that tiny house living is also a good fit for young married couples and even small families (retirees as well, but that is for another day).

I must preface this post with the disclaimer that tiny house living is not for every person, every couple, or every family. My husband and I had a lot of adjusting to do in our two years of marriage. Neither of us had ever lived with anybody before, we both had very different ways of living and daily routines that were not exactly compatible. If we had lived in a tiny house those two years we may not be…well…we may not be. However, by year three we were more than ready and had we done this then (three years ago) we would have saved enough to nearly pay off our old 1400 sq ft house in full. Hind sight is 20/20.

A large portion of this article focuses on the financial benefits of tiny living. I would like to point out, however, that tiny living is not worth the financial benefits if you are going to be miserable. I happen to love it and am finding that tiny living comes with a freedom that I did not know existed. So while I am thoroughly enjoying my tiny house experience my financial future is singing my praises. It is a win win for us.

Our plan, assuming it goes at least somewhat the way we hope it does, consists of living in this tiny house for approximately 2.5 years. We have rented out or old house and are making a profit every month as well as accruing equity. If we can manage to save some of what we would have spent living in a standard home we should be able to make a second investment such as a fully paid for second rental property. If investments aren’t your thing you could use that money for travel, savings, children’s college funds, and many other things that most of us would not be able to afford until we were close to retirement.

At this time we will be looking to purchase land to build our next home. If this tiny living thing continues to work out as beautifully as it has thus far, we plan on building in the ball park of 800 – 1500 sq feet depending on the size of our family. Now we have some options. We have two rental properties helping to pay for Jeff’s student loan debt and we currently have no mortgage.

So we can opt to continue living in the tiny house on our new property until we have the money to pay for our new house outright and continue our mortgage free lifestyle, or we could buy a vacation property to place our tiny house on, rent it out seasonally, and pay our mortgage with that income. Or, if we really lost all ambition, we could build our new home and park the tiny house out back as a guest house or inlaws suite. I am not saying our plan is perfect, or genius, or will even work. I simply wanted to illustrate the options that tiny house living has and will continue to open up to us.

Before the tiny house we were looking at a ten year plan just to pay off Jeff’s student loans! Long story short, the majority of young couples live in apartments their first few years of marriage anyway. You pay out the nose in rent, you have rules and restrictions, they aren’t always the quietest or safest of places, and you come out on the other end with NOTHING! You could instead invest in a tiny house, enjoy your life (which is undoubtedly busy and not based in your living room at that time of your life anyway), and when you are ready to purchase a home you are financial lightyears ahead of your friends who went the apartment route.

Yes it takes some getting used to, yes you have to make some sacrifices (which aren’t really sacrifices at all when you get used to it), and yes it is a big scary step, but ultimately the pros tip the scale of logic. I wish I had done this sooner, and I hope some of you who are considering your next step might make this decision sooner than we did.

Street Talk

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