The concept of tiny houses is not new but gained a lot of popularity in recent times. With all the devastation COVID-19 has done to humanity, it mistakenly did one good thing: the lockdowns have made us realize the value of family, simplicity and nature. This is the very reason why some people chose to live in tiny houses. They believe it helps them strengthen the bond with their loved ones; it is environment-friendly, saves money, and it’s a complete package to live a healthy life.
A Tiny house would cost a fraction of a typical average size house. However, it should be remembered that tiny homes don’t have good resale value and will most likely depreciate with time, unlike traditional houses that mostly appreciate with time. What exactly is the average cost of a tiny house depend on several factors. One can have a tiny house in as low as $8,000, but on the higher side, the price can go up to $80,000. Some of the primary factors which will determine the cost of tiny house are:
- Size of the house
- Choice of material
- Wheel-base, on foundation or trailer
- Building yourself or through a contractor
For most people, it cost somewhere between $8,000 to $20,000 to build a tiny house. Remember, this amount does not include the price of the land as it varies enormously on location. Add another $4,000 to $6,000 for the trailer if you want to enjoy the freedom of a tiny mobile house. The average cost to build a tiny house on wheels ranges from $25,000 to $45,000.
Breakdown of the costs
There is a reason why some tiny houses cost way less than others, and it all comes down to personal preference. Most of the fixed expenses when building a tiny house go into windows, doors, floor, roofing, appliances, fixtures etc. The costs of these expenses are not fixed; the best part is that buyers have the freedom to choose if they want their tiny house to provide them with a luxurious experience or opt for a more affordable choice.
For understanding, here is the average cost breakdown of a 300 square foot tiny house:
|Water and Heating||$2,500|
|Appliances and Fixtures||$8,000|
|Toilet and shower||$1,200|
One crucial factor that will affect the tiny house’s cost is building it yourself or through a professional. Building a tiny house yourself sounds exciting and could be a lifetime experience. Still, without any prior construction experience, you can run into problems that will be time-consuming and costly. Depending on the region, there could also be legal requirements you will need to consider.
Thanks to the pandemic, working-from-home is a new normal, and people more than ever before are talking about tiny home away from the fast-paced metropolitan life. Is it time for you to start making your dream home?