Live Big In A Tiny Home
We’re counting down our three most popular blogs of 2020!
With more options to work from home coupled with historically low inventory across Simcoe County, the year 2020 changed how many of us look at homeownership. Buyers are considering every option, so there’s no surprise that this blog made our Top 3 Most Read of 2020.
Here’s insight into what it’s like to call a tiny home, home.
What’s a tiny home?
A home is considered tiny if it is 500 square feet or less. By comparison, an average single-wide trailer home is 1,080 square feet, the average hotel room with a king size bed plus chair and desk is 325 square feet, and an average new home built today is 1,950 square feet.
Tiny homes provide an economical way of owning a permanent residence. According to thetinylife.com:
- The average tiny house is 186 square feet.
- 68% of home owners of tiny homes have no mortgage, compared to 29.3% of U.S. homeowners (or 40% of Canadian homeowners).
- A tiny house costs an average of $23,000 if built by the owner.
- More women than men own tiny houses – 55% versus 45%.
Thinking of building a tiny home?
If you’re thinking about building your own tiny home, there will be added costs in making sure the building meets modern building codes, which can be frustrating as the codes are based on houses with a much larger square footage. Most municipalities require a 1,000-square foot minimum when building, however, Ontario’s building code allows for homes to be built that are 239 square feet, plus a bathroom. According to tinyhouseontario.com, the City of Orillia is open to tiny homes being approved while Clearview allows a 400-square foot minimum. If you’re not very handy, but love the idea of having your own tiny home, be sure to check out the Tiny House Construction Company, located in the GTA, who will virtually build your tiny home from the ground up! http://tinyhousecc.ca.
Pros and cons:
Low cost to buy or build isn’t the only perk you’ll get with a tiny house. You can also enjoy:
- Little maintenance and upkeep
- Potential location flexibility (as long as your home has wheels or you have a truck that can tow it)
- Extra income stream if you’re willing to rent it out
- Lower utilities and operating expenses
- A smaller environmental impact
- A simpler way of life
Owning a tiny home isn’t without drawbacks. Take into account:
- Financing: Most tiny houses don’t cost enough to qualify for a mortgage, so you may need to front the funds out of pocket.
- Resale: Tiny home living is a trend today, but long-term potential for resale should be considered before you invest.
What do they look like?
Below, we’ve featured a luxurious tiny home built by New Frontier Tiny Homes, famously known as The Alpha Tiny Home, and branded as the ultimate couples retreat. There are some amazingly clever designs packed into just 275 sq ft. of space, including a dining room table that pulls out from the stairs, as shown below. The price tag on this luxurious tiny home is $95,000, however, most tiny homes are much more economical. Visit newfrontiertinyhomes/alpha-tiny-home/ to learn more.
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