There was a time we all were working to get as much stuff in our lives as possible. Bigger homes, multiple cars, electronics galore, etc. Today though, it seems more and more of us are trying to simplify our lives. We’re not talking about empty-nesters or soon-to-be retirees, either. We are talking about people from all walks of life. From a single person to a family of six, we are all wanting to lower our expenses each month and well, just make life easier.
It could be the past 8 years of layoffs and finding a job to keep up with our way of living has been next to impossible. Or, it could be an event in our lives made us realize just how precious time is here on Earth. For some of us, we’re just tired.
A Comfortable Lifestyle
Let’s admit it – even though we want to reduce the dependency and pressure of having a job, and we want to “scale” back, we also don’t want to give up our comfort either, right? One way that many people have found to do this is the ‘Tiny House’ lifestyle. There are many benefits to be gained by living in these styles of homes without giving up too much comfort.
Let’s look at ten benefits here:
Lower Initial Cost
The name alone “tiny house” states the obvious – they are smaller than the traditional homes we have become accustomed to. This means that it takes less materials and less labor to build them, and all though the per square foot cost is higher, the overall construction is less. They still have all the main features, aka, creature comforts that traditional houses have such as bathroom, kitchens, flooring, and roofing.
Lower Energy Consumption
Suffice it to say that it doesn’t take as much energy to cool and heat a tiny home since there is less square footage! Many tiny homes are built on wheels which enables the homeowner to relocate their home depending on the weather. Such as place it under a tree during the summer and out in a field where it can get plenty of sunshine during the winter. The energy sucking appliances such as hot water heaters and refrigerators are smaller in a tiny home, thus, less energy is used. Not to mention less of your own energy is needed to clean your tiny home. Many tiny home owners have gone even further and added solar panels, wind turbines, wood-burning stoves, and even compost toilets to make their home even more self-sufficient and green.
Less Trash Generated, Less Water Consumption
You’ll find yourself taking quick and short showers because of the smaller shower and smaller hot water heater. With less space, you’ll have smaller trash cans and thus be less prone to throw things out, generating less trash. This won’t be only good for your bank account, but the environment, too.
Less Expensive Repairs
Repair costs for a tiny home are less because the things that make the home are smaller, like the roof. There is less plumbing to go wrong, too.
Less Outdoor Area Needed
A tiny house won’t require as much land, so automatically, you have less outdoor work. Because many cities and towns have size restrictions for homes, you most likely will be required to purchase property that is on the outskirts of the city. While that may see inconvenient, consider the fact that the real estate is less expensive, the taxes are less, and there is less to mow and upkeep.
Lower Food Expenses
A tiny house will have a smaller pantry thus, you’ll buy less food. If you place your tiny home on land outside the city limits, you can grow a vegetable garden and have fruits and vegetables at your disposal all year long!
Lower Tax Rates
As we mentioned above, your tiny home will most likely be outside of city limits where the property value is less. When property value is less, so are the taxes.
Lower Insurance Rates
Insuring a home can get expensive – especially when you use it! Insurance rates for tiny houses is much less than that of traditional homes. Many insurance companies insure tiny houses as an RV because they are on wheels.
When you buy a new home, you notice right away that most of your mortgage is going toward interest and not the principle. With a 30-year mortgage, we pay more on interest than our homes cost! Most people that buy a tiny house pay cash or have a short-term loan. By avoiding those high-interest rates for long periods of time, you’ll save a lot of money.
Disposable Income Increases
With all of the things listed above, it is easy to see where the increase in disposable income comes in, right? The biggest part of our monthly expenditures are the recurring expenses of our home. When our home costs us less, it stands reason to say that our disposable income increases.