Tiny homes are having a big impact on the real estate market in opening up the market to people in a new way. Rather than saddling themselves with 20-30 year mortgages, families and individuals are jumping into home ownership a lot quicker by opting for a tiny home. This is one red hot niche that continues to flourish not only in the United States but in other places around the world as well. A tiny home can cost anywhere from $7,000 to $100,000; depending on the size, customization, and other features. In an economy that is ridden with debt, it's no surprise that more individuals are looking for cost-effective housing options like this.
Researchers from Kansas State University have recently declared that tiny house villages are going to be the next big housing trend in the market.
They say the tiny house villages are environmentally friendly, encourage healthy lifestyles and habits, they also can promote a sense of community, and most of all they are highly affordable for many. And that is why they expect that the trend will only increase as more people look for ways to get into home ownership without signing a mortgage death pledge. But they'll need to go through the regulatory hoops of government first and overcome the various zoning laws in place.
Popularity for the tiny homes really started to increase back in 2007 and has grown steadily since then, with a number of tiny home projects popping-up across the United States. Tiny home owners are embracing this trend because of the perceived sense of self-sufficiency that comes along with it, the economic efficiency of it, the simplified lifestyle, decreased maintenance, mobility options, and more.
Roughly 78 percent of people who own a tiny home don't owe any debt on it, compared to about 65 percent of homeowners who have traditional property spaces. Tiny homes can also be referred to as: micro houses, compact houses, little houses, and mini houses. And they are traditionally going to be between 100 to 400 square feet.
Currently, it is estimated that only 1 percent of homes purchased at 1,000 square feet or less, however it is also more difficult to collect data on the tiny homes because they don't require the same building permits that larger homes do. The most popular areas right now in the U.S. for tiny homes: Florida, Texas, California, Colorado, and Wisconsin. Many people are looking to get out of the debt rat-race that they are in and the tiny home option allows them a way to do it.
pics: pixabay
sources:
http://realestate.usnews.com/real-estate/articles/the-big-impact-of-tiny-homes-how-little-houses-are-changing-real-estate/
http://restoringsimple.com/our-tiny-house/tiny-house-statistics/
http://www.cnbc.com/2016/04/08/tiny-homes-offer-convenience-affordability-to-owners.html
http://www.countryliving.com/real-estate/a40069/tiny-house-village-trend/