Living Large While Living Small

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You see it on TV – tiny houses that have the amenities and facilities of a luxury home. You get a glimpse of a happy family being able to save more money because they do not have to consume as much energy as before. You wonder, is living in a tiny house living something that you should consider?

Living The Tiny Home

The tiny house movement is a social movement that promotes simple living. Any residential structure that is no more square feet is considered to be a tiny home. A tiny house may be a good option if you are living in Utah County, considered to be Utah’s second most populated county. However, you have to keep in mind that, just because your house is small does not mean that it will not require a lot of work.

One of the things that you need to look for would be a space where you can place your tiny home. It may be tiny, but you still need a considerable place where you can have it set up. A good starting point would be in the backyard of your friend’s or relative’s home as an accessory dwelling unit. Another option would be to connect your tiny home to a trailer so that you do not have to worry about getting a space for your home. You can also choose to look for towns and  that cater to tiny homes. What’s good about the last option is that most communities offer additional facilities for their members. These facilities can include neighborhood grill area or even pool.

Choosing where you place your tiny home will have an impact on how much you have to spend setting up your house. Tethering your home to a mobile trailer costs more than getting your home set up on a foundation. At this point, you might be tempted to do a DIY. This is not highly recommended, especially if you are not good with building and stuff.

The best way to go about it is to get someone who can work on the design and get everything set up. Another approach would be to purchase tiny homes that are already available in the market. For this, you might also need to look for home loans to cover the amount that your residence would cost. A caveat at this point – not many financial institutions are lenient when it comes to loans for tiny homes.

Other Considerations

miniature house on top of a mortage loan document

Once you have chosen your tiny home and have settled on a place where to set it up, there are still some other things that you need to look into, one of which is the homeowner’s insurance. Now, while tiny homes can definitely be insured, the amount will typically depend on whether you had a professional build your home or if you had a DIY project. Some insurance providers might require a number of documents before they cover your house, so make sure that you double-check first the list of requirements.

When the time comes that you want to sell your home, ready yourself for lower offers, as opposed to traditional homes, tiny homes do not actually appreciate in value, although its location might give you a more competitive cost.

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