What’s the Deal with Tiny Homes?

Three Reasons Tiny Houses Are Popular

You’ve seen them everywhere. They’ve been in the news and even have their own dedicated TV shows. But what makes those tiny homes so special?!

#1: It’s the Money

Obviously, a tiny home has a lot less space (an average of 180 square feet, to be exact, for the smallest). With so much less space, the tiny house owner expends significantly less money to keep it heated and cooled. You’ll also spend less on general maintenance (again, less space to maintain) as well as a drastically less expensive initial purchase.

The costs are especially desirable to those with large amounts of student loan debt. With homes available between $25,000 – $100,000, it’s incredibly tempting to escape rising rental rates.

#2: Getting Back to Basics

For those living a cluttered and busy lifestyle, the tiny home holds a lot of intrigue. A smaller space? Fewer chores? Less space to fill with yet more unnecessary stuff? Sold! The smallest tiny homes often come on wheels as well, letting you take your home on the go.

#3: Designed for the Environmentally Conscious

Energy efficiency and going green is a huge deal in the homebuilding industry. While energy efficient homes absolutely reduce the buyer’s carbon footprint, you really can’t compete with the eco-friendliness of a home that’s just, well, smaller.

What makes them so eco-friendly, though? Well, aside from consuming less energy due to their smaller size, tiny homes also tend to use more environmentally friendly strategies. For example, tiny homes often reuse rainwater and can be built entirely of wood.

How Do I Compete?

To be honest, tiny homes are a niche market. The lack of space will put off those who simply need the room – large families, for example, or those who need in-home office space or have large pets.

Here’s a quick summary of who’s typically interested in a tiny home:

  • Millennials who aren’t seeking large homes and want out of debt
  • Retirees seeking a small, mobile space
  • Homeowners on a serious budget
  • The truly eco-conscious downsizer

What do you think? Do you see tiny homes as a threat to your current sales, an untapped market, or are they not even on your radar?