Tiny houses are popular for a reason. And that reason is, no doubt, related to finance. Tiny houses are the most affordable homes one can own. Especially for single dwellers, it is the right option to start a new and independent life.
Tiny houses are economical and cheaper than any other usual house. Some of them are even sold at the price of a car. It is because of this reason that tiny houses have immensely grown in popularity. Surely there are several reasons, but its cost factor will always be at the top.
However, their prices differ depending on several factors. Although there are price differences within their categories, they would still cost lower than any other house.
How much does a tiny house cost?
Average tiny house cost
The cost of a tiny house will depend on various factors. Beginning from taxes to utility and quality to size. However, on average, tiny houses are affordable at the price of 385,000 US dollars. The cost can even go lower to 10,000 to 150,000 US dollars. As mentioned earlier, it depends on the size, quality, and facilities that come along with it.
Keeping the sub-categories of cost aside, the main cost will depend on whether one plans to buy a pre-made and prefabricated tiny house or build one. While building a tiny house will cost much cheaper because one will depend on their own resources, it can take up a lot of time. On the other hand, with a few thousand dollars extra, a prefabricated tiny house will be a little costlier, but it will provide the best living instantly.
Some tiny houses can be bought with cash. But with some, the trouble of mortgage comes in. But with tiny houses, even mortgages or monthly payments do not exceed the price of 600 US dollars. That is quite a reasonable sum and is very cost-effective. And hence, tiny houses are well known to be affordable and economical.
Apart from the building cost, some other factors can affect the price of a tiny house, let us discuss them;
Now, where one decides to build their tiny house is another important factor. There can be three options.
The first option is to place it on a piece of land they own. That will make the house stationary and will lower the price.
One can also choose to park on rented land. This will include paying monthly rent or buying some acres of land. But that also costs not more than 2000 US dollars, making it a feasible option.
And the last and the most versatile option is to choose a movable house and keep changing locations. One can choose to park at an RV park community and change locations whenever desired.
If one plans to stay on-grid, then they can connect to the town municipal grid systems and have access to water, electricity, etc., simply with a hookup system. However, what is more economical is staying off-grid.
Off-grid living means dependency on renewable resources such as solar panels. That makes things cheaper, and also, a tiny house barely requires half the amount of energy that a normal house does. That means it is already a money-saving option.
These are some factors that determine the cost of a tiny house, and as we can see tiny houses are very affordable and cost half the price of usual houses. However, with maximum facilities, prices can go a little higher than expected.