Buying a Tiny Home: What You Should Consider
More and more people are moving into tiny homes or adding them to their property for various reasons. Some of the reasons include adding a separate office space, a man cave, or a she shed on their existing property. Alternatively, some people want to downsize and move into a tiny home exclusively. Whatever your reasoning for the tiny home is, there are a few things to consider before buying a tiny home; learn what they are below.
Are Your Finances in Good Shape?
A lot of people assume a tiny home is cheap, but not always. Unless you can pay for the home in cash, you’re still going to need a mortgage. As you probably know, when you need to take a loan, the lender will look into your income, debt, and credit scores. Before you buy a tiny home, you should get pre-approved for the loan. Don’t forget about closing fees, building, and the land.
Where Are You Putting the Home?
Just like any other home, you’re going to need a piece of land if you don’t already have it. Each state and city is different when it comes to their zoning regulations regarding tiny homes, so be sure to research your area. Alternatively, you may not need land at all if you plan to travel. If you plan on traveling and keeping your tiny home on wheels, you should be able to park the tiny home in RV parks or campgrounds.
Are You Buying, Building, or Both?
Some people make the mistake of thinking they can build their own tiny home without any building experience—don’t be that person. There are several reasons you’d benefit from hiring a tiny home builder as opposed to attempting to do it yourself. The biggest reason a professional should build your tiny home is that they’ll get it done correctly. You don’t need to deal with a leaky roof or walls that aren’t insulated properly; a pro will get the job done for you.
Are You Ready for the Lifestyle Shift?
Living in a tiny home isn’t an easy transition for a lot of people. You’re going to have a lot less room than you’re probably used to. Many people who move into a tiny home get rid of the majority of their possessions. If you plan on starting a family or having pets, a tiny home can make that rather challenging.
Some of the primary things to consider before buying a tiny home revolve around your personal goals. After all, tiny homes are suitable for some people and awful for others. Above all else, make sure you consider your personal goals and lifestyle prior to taking the plunge into tiny home life.
