In the aftermath of the COVID-19 pandemic, we’re currently in a “seller’s market” when it comes to the housing industry. That’s good for people wanting to change locations and make a profit. It’s not great for people on a budget wanting to buy a new home.
With housing prices so high and gentrification so prevalent, it’s hard for many people to find affordable housing within a reasonable distance to the city. That’s not a good situation for anyone, since most major cities rely on working-class individuals to keep things in motion.
So, what’s the solution?
Tiny homes are one way to benefit communities and help with these issues. They benefit the working class needed for urban growth. They also can help individuals who are just getting out of jail, freeing themselves from homelessness, or simply can’t afford other housing options.
With that in mind, let’s dive deeper into the benefits of tiny homes and how they can improve communities across the country.
They Make Housing Accessible
Again, it’s a seller’s market right now. That means housing costs are high. It also means houses are being scooped up quickly. On top of that, the National Association of Realtors (NAR) is reporting a record low number of homes for sale across the country. That might change throughout the year as new homes are built and the economy stabilizes. But, right now it can be difficult to even find a house, let alone afford one.
Tiny homes can help with that issue in a few ways, especially in urban areas. First, many people choose to build their own tiny homes. The average size ranges from 100-400 square feet, so one can be built almost anywhere for a fraction of the cost of an original house (more on that later).
Because of their small size and affordability, tiny houses make community living more accessible for everyone. That includes people who are trying to get back on their feet. Anyone from single mothers to former convicts trying to straighten out their lives can find a better living opportunity by building or purchasing a tiny home. It’s not easy for people on probation or parole to find housing. Plus, instability can lead to parole violations and make it harder for them to get ahead. Some common parole violations include:
- Breaking curfew
- Failing to report to a parole officer
- Traveling without permission
- Failing to find work
You can see how having a stable home would make it easier to avoid those violations and get back on track.
Even the homeless can benefit. Some cities have launched tiny home initiatives, creating villages of small houses for people to use as shelter. In cities with major homelessness problems, that can make a big difference. Tiny homes provide more accessibility to everyone, giving people the chance they may not have otherwise had to live and work in a thriving area.
They Make Housing Affordable
Perhaps the biggest draw to tiny home living is affordability. The average tiny home costs $30,000-$60,000. But, some can go as low as $8,000. It depends on the size, location, and amenities. Because the demand for tiny homes is high right now, you’re bound to find wide price ranges when you start searching.
The affordability of tiny homes makes it possible for the working-class people every city needs to afford a place close by. Considering a tiny home purchase allows you to stick to your budget and can often make your financing options easier to work with.
It’s important to note that you won’t just save money with a tiny home purchase. After you’ve checked out the tiny house real estate market, consider the cost of living. That’s often a huge problem in big cities. For example, the cost of living in New York City is about $1,351 for one person – without rent! That includes factors like:
- Food (groceries and eating out)
It also includes utilities like electricity, heating, cooling, and water. While you may not be able to cut costs on certain things, tiny home living can exponentially help you cut back on your utility costs. Monthly living expenses are usually anywhere from $500-$1,000 in a tiny home, so you can expect significant savings. That could give more people an opportunity to live in major cities than ever before.
They Make Housing Available
Tiny homes are becoming more popular all the time. Because of that, their availability is going up. Many people still think of tiny houses as small constructions in rural areas, away from everyone else. In some cases, that’s still true. But, because of the demand for downsizing and affordable housing, the tiny house industry has seen a different sort of growth.
Today, you can still find a “lone tiny house” in both rural and urban areas. But, tiny home communities are becoming more popular, too. People of all ages are flocking to these communities for the benefits the houses provide. Not only are they affordable and accessible, but they’re better for the environment, and when they are built on wheels they can be moved as necessary.
Whether you’re trying to get back on your feet, downsizing, or looking for a job in a metropolitan area, tiny home living could be the best way to accomplish your goals. Consider your options in this seller’s market, and you could end up enjoying all of the benefits of tiny home living – even in the city.
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