Many of us have thought about downsizing our homes at one time or another. But, maybe not to the extreme that a tiny house can take it.
Sure a tiny house has its perks like less initial expense, lower maintenance costs, insurance and taxes, going green and potentially the freedom to easily move it to a new location.
However, it also comes with a completely different lifestyle than what most American’s are accustomed to. Living in smaller spaces has become a trend in housing with numerous companies and websites that specifically deal in the flourishing small home industry. Commonly referred to as micro-homes, tiny homes offer a simpler lifestyle that is often free from the financial burden of a monthly mortgage payment.
With 76 percent of Americans living from one paycheck to the next, the opportunity that tiny homes present can be very intriguing. Millennials are primarily leading the charge in the tiny house movement as they seek an affordable housing option while paying down student loans and credit card debt.
While some tiny home owners utilize them for their primary residence others offer the use of one for rent or as an extra guest house for caregivers or house guests. Alternatively, some little homeowners place it on a vacant lot that they plan to build on someday and use it as a vacation retreat.