Reasons For Being A Tiny Home Owner?
Why would anyone become a tiny homeowner (or renter)? Here we give you the top 2 reasons.
We will look at the issue of conventional housing affordability in the 21st century. We will also look at other factors driving the tiny house movement.
This material was created by the Center on Budget and Policy Priorities CBPP.ORG
Why is affordability an issue?
- Many people cannot afford to buy or rent a conventional size house or apartment
- Cannot upgrade housing (i.e.apartment to house, city to suburb)
- Living in parent’s basement, unable to move out
- Cannot graduate from renter to owner
- Cannot afford their existing mortgage
- Scared of interest rate increases.
- Need to downsize – empty nesters
- Need to release equity in current property for medical bills or to pay debts
Affordability is the major reason for people considering the move to being a tiny home owner. For many, it is the only chance they will ever have of owning their own home. For others it is the only way to avoid homelessness.
Lifestyle reasons for becoming a tiny home owner
- Concerned about their environmental footprint
- Wanting to live off grid and close to nature
- Dissatisfaction with current lifestyle – commute, stress, health
- De-cluttering, reducing consumption
- Forced to move after divorce or death of spouse
- Relocating for job/business/family reasons.
- Unable to lead a nomadic lifestyle
The desire for a better or different lifestyle is the second most important reason people give for moving to a tiny home.
From the list above you can see there are many lifestyle reasons. For some people, these can be more important than financial reasons.
Other reasons for becoming a tiny home owner
Another big reason given for moving into a tiny house (or other small home) is the need for a change or adventure, not necessarily an affordability problem or a dissatisfaction with current life, just a need for a change.
Other home owners look at their bank statements, calculate that they will pay as much or more in interest charges as the purchase price of their house and decide to become mortgage free as soon as possible.
Options available to a prospective tiny home owner
- Tiny homes on foundations
- Tiny homes on wheels (THOW)
- Small homes – usually on foundations
- Tree houses
- Converted farm buildings – stables and sheds
- Converted small churches and shops
- Leisure trailers – bumper pull or 5th wheel
- RVs large or small
- Custom converted, busses, vans and trucks
- Converted shipping containers
- Converted cargo trailers and horse trailers
- Tents or Yurts
- Roof mounted tents on SUVs or trucks
- Underground homes
- Boats and barges
Some of the options may not be accepted in certain areas. Some will be impractical in harsh winters in colder parts of the world. Tents and yurts may not provide sufficient safety or security for possessions near cities and towns.
Boats and barges are popular in Europe with its network of navigable rivers and canals. They are not as well suited to North America at any distance from either coast or the Great Lakes.
Here’s an option I would love to try for a holiday:
It’s not an impractical dream, covered wagon adventures are offered by Ole Covered Wagon Tours in Wellsboro, Pennsylvania, their contact details can be found on their website. (We have no commercial relationship with Ole Covered Wagon Tours).
There are as many possibilities for being a tiny home owner as there are reasons for wanting to be one.
Are one or more of these reasons keeping you awake at night? Could one of these ideas be the right one for you?