You may have noticed these little miniature homes popping up recently. Maybe you saw them on television, or maybe even in your own town. These tiny homes are typically between 100 to 500 square feet and are often on wheels for mobile transportation. You may think of them as the venture of the youth, however at least 40% of tiny home owners are over the age of 50. So why are seniors starting to consider transitioning to the tiny home lifestyle? Could this be an option worth your consideration later in life? We have researched the pros and cons of tiny home ownership for seniors and have compiled a list to help you decide for yourself.
There are so many pros to senior living in a tiny home, here are just a few!
- Decrease your expenses
Going tiny allows you to cut your utilities and other housing expenses drastically. With a smaller space, you will see a decrease in your heating, cooling, gas, and electricity bills. You will also see a decrease in your taxes, maintenance, and repairs.
- They are inexpensive
Not only will your typical bills be minimized, but the cost of your tiny home is substantially less expensive than a traditional home. You can purchase and build a tiny home for right around $23,000, or have one custom made, built, and shipped to you for $50,000-$60,000. An impressive 68% of tiny home owners do not have a mortgage and own their homes outright.
Many of these tiny home owners find that decreasing the amount of possessions they own is a freeing experience. They find that they are able to focus more on their relationships and what is truly important in life. Having a smaller home encourages many to get out of the house and become more involved in their communities as well. Additionally with a large majority of tiny homes have mobile capabilities, they can pick up and move whenever necessary. If you decide you need to be closer to family, you do not have to sell your home, you can just take it with you!
There are a few drawbacks to take into consideration before you opt for the tiny home lifestyle.
Not everyone is ready to downsize, especially to this degree. Carefully consider how you will feel emotionally letting go of your keepsakes and possessions before investing in your tiny home.
- Zoning and Permits
Cities do not receive the same tax revenue with a tiny home as they do with a traditional home. This can make permits and zoning codes a little difficult. Be sure that you check with your city and determine if tiny home permits are accepted where you want to live. This may cause you to consider a smaller tiny home that can be on wheels and mobile, since these are often registered through the DMV similar to an RV, semi-trailer, or mobile home. This will help eliminate the tedious process of zoning codes and permits.
There are some tiny home builders who are designing them to be more accessible for seniors, however not many have been created fully accessible. We believe that it is just a matter of time before this does occur, but keep your mobility and long term health in mind as you search for your tiny home.