The tiny home craze has many homebuyers convinced that it is time to downsize their lives and move into a smaller space. Unfortunately, not everyone is cut out for tiny home living and they end up moving within a short time period. If you are thinking of moving into a tiny home, here are some questions to ask yourself to determine if you are truly ready for the experience.
What Are the Legal Requirements for a Tiny Home?
Regardless of where you live, there are building and zoning codes that dictate what you can build on your property. Failing to follow those codes could result in fines and other consequences. When it comes to tiny homes, they are not exempt from local codes.
Before deciding to buy a tiny home, you need to learn what the legal requirements are for your city. For instance, in Alfred, New York, local officials placed a temporary ban on residences that were under 400 square feet.
If your city has a ban or has requirements in place that you find challenging to meet, you can choose to challenge the code, reconsider your plans, or move to a more accepting city.
What Amenities Are Important to You?
Due to the decreased living space, you have to be smart about the amenities that you choose for your tiny home. Amenities, such as a full-size bathroom or kitchen, might not be possible. If your builder is able to fit them in, it could mean compromising on other amenities.
Take the time to compose a list of amenities that are absolutely necessary for your tiny home. A builder can review the list with you and determine if your list is realistic.
When reviewing your amenities, do not forget that you also have to leave room for furnishings. Having a large bathroom might mean that you have to downsize your furnishings.
How Are You Paying for Your Home?
A tiny home is a cheaper alternative to a traditional home. Once you start customizing your home though, the cost of it will go up. Depending on the final cost, you might have to secure financing to get the home. This could prove to be challenging.
Some lenders do not consider tiny homes to be an actual dwelling and will not provide a loan for building or buying one. In some instances, homeowners have had luck with adding wheels to their tiny homes and claiming that it was mobile home so they could secure a loan.
Before making a final decision on living on a tiny home, consult a real estate agent to explore the idea and other homes for sale.