We are all aware of the current housing market with prices that have escalated over the past couple of years. It has made a difficult situation for many buyers who feel priced right out of the market when trying to find affordable housing options.
The tiny house movement has been gaining momentum because of this and is all about downsizing your lifestyle so you can live a more fulfilling life without a lot of debt or a huge mortgage hanging over your head. While you can buy a prefabricated dwelling or a customized small house on wheels, you can also save a lot of money if you make the tiny house yourself. Statistics from 2022 show that the average cost spent on a tiny home is about $45,000, but there are also Do It Yourself Kits available for as little as $5,000 to $10,000.
Information from the mortgage industry shows the average per square foot cost is about $300 per square foot, which is double that of the average full-size home. Therefore, a small 200 square foot cottage can easily cost $60,000 to have built by professionals. But again, for DIYers a tiny home can be built for a lot less. Something else to consider is that fluctuations in the cost of building materials can cause costs to vary widely from year to year and from location to location.
Most tiny homes offer one to two bedrooms and usually just one bathroom, with a spacious living area and kitchen. Since storage is at a premium, downsizing is critical to consider such a small home, but most also have a beautiful porch or outdoor area to enjoy, and lots of windows to offer panoramic views.
If maintained properly, a tiny house can last for many decades. Some people reside in one full-time or use for a second or vacation home. They save on utilities, have little upkeep and maintenance and can truly simplify your life. Depending on what design and upgrades you choose, the cost can easily go over $100,000 but where else can you find a private, cozy home for the same price?
Tiny homes are now very popular in many states, and Florida is also catching on to this new kind of affordable housing. There are already several “tiny home” communities sprouting up around the Tampa area and they will most likely be gaining in popularity as time goes on.