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The Economics of Tiny House Living

Tiny houses have been gaining notoriety for the last couple of decades! Artists such as Allan Wexler have investigated the concept of living in a compact space. Early pioneers include Lloyd Kahn, author of “shelter “(1973) and Lester Walker, author of “Tiny houses “(1987). The Tiny house movement has recently taken over social media with trends based around simplifying your living space by rationalizing your homes. This ultimately leads to greater financial freedom.


The average cost of a tiny house $30,000 – $60,000. Depending on the amenities you choose, they can cost as little as $8,000, or up to $150,000.


PROPERTY PRICES


Tiny homeowners have several options when it comes to purchasing a piece of land. It is not uncommon for tiny house owners to live on plots of land owned by family or friends by paying rent directly towards them. If you prefer more privacy, you might want to purchase a plot of land. It is important to make sure that local zoning laws allow the construction of your home on your desired plot. Many locations around the U.S require a minimum house size of 900 ft. The average price of purchasing land for a tiny house is $30,000-$60,000.. Available land and undeveloped lots can be tricky to find and are not profuse across the nation. Here are some great websites to search for land:

If you are searching for more freedom and movement, renting space for your tiny house may be the better option. It is common for tiny house owners to park their homes in RV parks. Tiny houses can be stationary or mobile, but typically are easier to move from place to place. Tiny houses have convenient green features like solar panels or composting toilets. Tiny house owners can expect to pay between $500-$1200 a month to stay at an RV park. This isn’t always the best option for tiny houses, this is because many of the amenities offered by RV parks can already be found in a tiny house.

UTILITIES AND UPKEEPS

Congrats! You found a great piece of land to park your tiny house. Installing power in your tiny home means you need to create your own or pay to bring it on your property. Depending on your location, the further you are from utility connections, the more expensive it will be to connect to power sources. Utilities such as water, power, and waste are the primary ranges where tiny homeowners can save money, compared to traditional homeowners. The average costs for electrical power are $118 a month, or 13 cents per kilowatt-hour. Water rates average $68.14 per month for tiny houses. When it comes to traditional homes, owners often, have no say when it comes to utilities. Tiny homeowners have two options when it comes to utilities: Becoming full self-sustaining or plugging into an existing grid. An existing water and power grid cost an average of under $20 a month! Becoming full self-sustaining is equally applicable in urban and rural situations. Although upfront costs may be high, you will not be paying a monthly bill. The most power options for self-sustaining tiny homes are solar panels. The price of these panels can run anywhere from $340-$20,000. This all depends on the complexity of the system you choose to use. When it comes to bringing water into your tiny home, tank-and-pump systems are popular amongst tiny homeowners. This system is unexpensive! A water tank can be purchased for under $100, and hoses for under $40! Composting toilets are the most efficient aspect of a tiny home. It is not uncommon for tiny homeowners to sprinkle sawdust over waste and add it to a compost pile. If you are looking for a more convenient option, fully functioning composting toilets cost anywhere from $900-$2,000.


Overall, A tiny house is easy to take care of. With less space to clean and fewer appliances to repair. It is a more eco-friendly option, and is great for those who enjoy a nomadic living style.





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