What do you think about the “tiny home” craze?
With house prices rising across many US markets, many Americans have chosen to forego the traditional 2000-3000+ square foot home and instead opt for much smaller living spaces.
There’s really no “official” answer. Tiny homes typically range from as low as 60 square feet to 400 square feet – although pretty much any home below 1000 square feet these days could be considered in that category.
A lot are around 200 square feet, which is about the same size as your typical college dormroom.
The reasons for choosing to move into a tiny room vary widely.
It’s not just for cost savings – many chose this route as a way to confirm their commitment to “doing the right thing”… reducing their needs for electricity, water, and other resources.
Or they just prefer a simpler life with less stuff – because as I’m sure you realize, the more room you have, the more likely you’ll be to eventually fill it up. A tiny home is also easier to furnish, much less work to clean, and lot easier to maintain.
Some even design their homes to be completely self-sustaining, with composting toilets, solar panels, etc. to enable the occupants to live entirely off the grid.
With an ever-growing number of TV shows, magazines, websites, and more dedicated to this idea, it’s clear that the tiny home movement will continue.
I think anything that gives people more options and freedom in how and where they want to live is a good thing.
This same principle applies to finances as well – your goal should be having the ability to live life the way you want. That requires having a solid portfolio and plan to get there. For help in making that happen so you can live large however you want, give us a call at 513-563-PLAN (7526) or book online.
Dan Cuprill, CFP®