There are so many great reasons to consider building a small or tiny home. Beyond the masterful achievement of building your dream home, we’ve listed a few great reasons to go small:
1. Imagine Living Mortgage Free
Many Mighty Small Homes buyers don’t have to borrow money to build their dream home. One of the greatest advantages of building or purchasing a small or tiny home is the increased financial security and freedom gained from living mortgage-free.
Imagine, what you could do with no interest rates on loans! That alone is incentive. You are only paying for your home and not funding the bank. If you do need a small loan, the interest rates are still low and now is the time to borrow without much interest penalty. Without a mortgage, or at the very least a smaller mortgage, you can save for travel, education, other investments, retirement, or a reserve of health funds. With a smaller loan, you significantly reduce the risk of home foreclosure or bankruptcy due to an unexpected job loss or health crisis. You may even make money on your home by using it as a second vacation home rental or an AirBnB.
Your small or tiny house can also act as a hedge against volatile market fluctuations. Living without a mortgage means that your Mighty Small Home will never be at risk of going “underwater” if the housing market collapses.
Read More: ADUs as Airbnb rentals make perfect sense
2. Fantastic New Skills and a Once in a Lifetime Experience
Basic carpentry skills are a must for building your own small or tiny home, but many people undertake the adventure of building a small home with a focus on expanding their skills and self-sufficient independence.
Whether you choose to go it alone with the internet as your guide or work with a professional contractor team, it is an amazing, once in a lifetime opportunity to learn how to build a house – your dream house. You will be a renaissance man or woman able to take your building and designing skills to a new level. Carpentry, flooring, exterior siding, and roofing materials with a Mighty Small Homes kit will make it easy and fast.
Once you’ve built your house, you’ll know where every nail and screw is, and you’ll be able to save on repair and upkeep costs because you’ll also have acquired the skills to keep it updated throughout the life of the home! You will be seen an amazing talent by friends and family.
3. Total Control and Every Choice is Yours
You may decide to use a great existing floor plan to suit your taste and needs or you may decide to go off the grid and design your own layout, either way, you are in control. How many times in life can you say that YOU made every choice! Talk about empowerment, the experience of building a small or tiny home is rewarding at every step. You control your budget, construction, customizations for your home, storage, décor, eco-footprint, layout, and your construction site.
So whether your tastes are traditional, modern, or somewhere in between, you will have unlimited possibilities to explore. Your home will be one-of-a-kind.
4. Save Money and the Earth
When your home is fully contracted, labor and material costs are passed on to you. Tiny houses built by custom home-builders can start anywhere from $60,000 to $80,000 and you probably won’t know what materials are going into your construction. You can avoid the horror stories of shortcuts that cost to replace or possibly endanger you and your family. Not to mention, price tags increase the ratio of price to square footage to levels that can become untenable to someone interested in a small home.
Homeowners can save as much as 25 percent to 35 percent building small homes when they cut the cost of labor and make choices that stay within your budget.
While there are some activities best left to a professional, some labor you can do on your own.
By knowing what materials are being used to build your home and making eco-friendly choices, you will feel good about the home you live in and reduce your carbon footprint. With small and tiny homes, you can also take advantage of energy alternatives such as composting or low flow toilets, wind and solar power, recycled and upcycled materials that meet your standards.
You can make some great, clean and green choices!
5. It is a Great Alternative to Traditional Downsizing
Tiny and small homes are becoming a smart alternative to traditional downsizing options. Whether you are looking for something more familiar and customizable than a traditional retirement community or a smaller, one-story for when the children move out, a starter home for a new couple, or an alternative to renting an apartment, tiny and small homes may be the answer!
Many people of all ages are discovering new freedom as they downsize or start small. Having to clean, track and haul less “stuff” makes us think about what’s most important to us. It can transform your life – for the better!
Whether it’s an opportunity to keep your parent(s) close to you while maintaining their independence, using your new space for your hobbies and work, or discovering a new way to live life and invest in yourself, you can have EXACTLY what you want. You can simplify. You can indulge. You can live the way you want to live.
Embarking on the tiny house journey can be life-changing. You will be more focused, more disciplined, and more able to deal with life’s daily stresses. After all, if you can achieve your goals of building a tiny house while juggling life’s day-to-day distractions, you can do anything!
A small or tiny home can make a dream into reality. How often can you say that about anything today! Get inspired!