What Are the Reasons Behind the Growing Popularity of Tiny Homes?

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February 12, 2024
popularity of tiny homes

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According to RubyHome, there are around 10,000 tiny homes in the United States. These types of living spaces are becoming more and more popular, and the advancement of technologies such as 3D printing may further increase their popularity. Thinking of joining the club of tiny homeowners? Here are some of the main reasons behind their popularity.

1. They are affordable

It is no secret that tiny houses are typically cheaper than traditional homes. In addition, tiny living spaces often bypass the need for using a traditional mortgage. More specifically, those who decide to purchase such homes often have the option to choose from flexible financial plans or even buy their home outright.

A lower purchasing price and the possibility of not having to pay a mortgage for 30 years are just two aspects to consider when it comes to affordability. Maintaining a smaller property may also mean lower expenses with maintenance, renovation, and energy consumption. In addition, repair costs are likely to also be lower, as fewer things can go wrong.

2. They are sustainable

These buildings are often designed with sustainability principles in mind and are made from recycled steel, reclaimed wood, and non-toxic paints. As such, purchasing a tiny property built from eco-friendly materials could be a great option for people caring about the environment. Regardless of the materials used for their construction, small properties will generally have a smaller physical footprint, meaning more green space on properties. Last but not least, these buildings would typically consume less energy.

3. They are minimalist

If you like minimalism, then a very small house might be your thing. Living on a minimalist property should not only mean having less space for yourself and your belongings; it should also mean spending less time doing things such as cleaning and having more time to relax, socialize, or practice some hobbies.

It is worth adding that people have different thresholds for what is defined as “too small”. Whether you have claustrophobic tendencies or not, it is best to visit a tiny house and, if possible, spend a few nights to determine if minimalism is your thing and to what extent.

Image Source: Canva

4. Some are mobile

Living on wheels is usually associated with having a low income and no possibility of buying the home you would actually want. Some people, however, actually enjoy the mobility provided by a home that doesn’t have a fixed location.

This type of arrangement is not for everyone but can work if, for example, you have jobs that require constant relocation or you work remotely. Note that a very small property on wheels is not the same as a motorized RV, so you will still need a truck to attach it if you want to travel with it.

5. They come in all sizes and shapes

The space constraints inherent in this type of property have led to some of them having quite peculiar designs. Examples include multi-functional furniture, convertible spaces, or hidden storage. 

The challenges of designing a small property that can fulfill more or less the same functions as a traditional living space can lead to the creation of highly personalized spaces. More specifically, you may have the chance to be involved in the design process, meaning you can build homes that will reflect your personality and meet your specific needs. In other words, if you want to have an active role in the design of your own home and don’t have hundreds of thousands of dollars at your disposal, a very small house is your best chance.

6. Short-term rental demand for these houses is rising

More and more people are interested in renting a very small property for short-term stays. Platforms such as Airbnb have played an important role in increasing the popularity of tiny houses as short-term renting solutions. The main reasons for this increase in popularity include affordability and perceived originality. For example, many travelers looking to spend a few weeks in a location may prefer renting an entire house for themselves rather than staying at a hotel or hostel and tiny houses will typically be more affordable.

In other words, you should not only consider buying this type of property for yourself but also if you want to make a small real estate business and can’t afford to purchase a large home. Like all investments, there are risks to consider, including the possibility that there will be little to no demand for renting your property.

7. You may be able to build a profitable YouTube channel

If becoming an online celebrity is your dream, then being the owner of a tiny property is one chance to consider. Since these types of living arrangements are rather exotic, there is an audience who enjoys watching owners of these properties sharing their stories via channels such as YouTube. While there are several popular such channels already, it may well be the case that it is not a saturated market.

Bottom line: Tiny homes are cool but not for everyone

Now that you know some of the main reasons why more and more people buy these types of properties, you may be ready to make a decision. If you are considering buying or building your own tiny house, make sure you work with reputable companies and individuals. For example, you can use Google reviews to determine the reputation of a business. Besides, you can leverage the power of search websites to find additional information that is not readily available. For example, you can find a contact’s phone number, social profile, and several other data that can help you make informed decisions.

There is no doubt that tiny homes offer many perks, including lower purchase and maintenance costs, sustainability properties, and unique design features. On the other hand, limited space and the mobile nature of many of these buildings are not for everyone. With these considerations in mind, take it slowly and consider only investing in a tiny property if you are virtually sure it is the right decision.

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