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Tiny Homes are redefining what makes a house a home. People are opting out of the average 2,200 square foot home for homes ranging between 100 and 400 square feet. According to Google Trends, the fascination with tiny homes has nearly doubled in the past five years. So, what’s giving these small homes their big name?
Tiny homes are more than dwellings for people wanting less. It’s a movement characterized by financial freedom, minimalism and environmentalism. The average tiny home is approximately 185 square feet, and just like traditional builds, tiny homes come in various shapes, sizes and materials.
The price for acquiring one depends on their mobility, size, materials, and if they are built by the owner or contracted out. According to the Canadian Tiny Homes Alliance, the cost to build a safe tiny home that complies with regulations starts at $100 per square foot. Unlike conventional homes, a tiny one offers an affordable alternative to first-time homebuyers and those wanting to downsize.
A study produced by Generation Squeeze stated that the average millennial will need to save for thirteen years to become a homeowner whereas their parents only had to for five.The Canadian Mortgage and Housing Corporation stated in March 2019 that an estimated 1.6 million households are considered in 'core housing need,' meaning that people live in places that are too expensive for them or that don't meet their needs.
By downsizing and opting for less, homeowners end up getting more. Here's more info on why living in a tiny home is a great idea.
Having more freedom over finances means that tiny home occupants can pay off their mortgages in shorter periods of time, if they even have to take one out to purchase their home. "Financial freedom, mobility and being a homeowner (without a loan) in my 20s are just a few of the benefits I've received from going tiny," said Jenna from Tiny House Giant Journey.
Occupants also enjoy more green space as people tend to place their homes in nature and near bodies of water. Tiny homeowners may also find more connection as new developments are now building small home communities centred around communal work, art and recreation spaces.
"The new status symbol is cultivating a life of experience. It is about experiences, not stuff. And small spaces allow us to do that. People are looking for smaller mortgages, smaller time lines. With more time and money for other things," said David Latimer, a tiny home designer and owner of New Frontier Tiny Homes in Nashville.
The tiny home movement does not only benefit the dweller but also the environment by using less resources and in many cases recycled resources such as shipping containers. When a tiny house is built from a shipping container it is weatherproof, rodent-proof, durable, mobile, secure and sustainable.
Living small comes with big benefits. Whether you are a first-time homebuyer hoping to break into the market, an elderly couple wanting to downsize or an environmentalist looking for a weekly change of scenery, there’s a tiny home for that.
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