I am growing more and more convinced that Tiny Houses, especially Tiny Houses on Wheels, are an amazing investment at any point of your life. I’m figuring out the best way to build one as soon as possible.
Before last year, when I thought about making the transition from renting to owning, nothing seemed more daunting.
A house is a big asset, and a different level of money than I had ever dealt with. I was used to paying for living monthly, four hundred bucks at a time.
That was the norm since I started living on my own, that’s what I was used to. But when you step back and think that if I did that all through my twenties, that would be $48,000 spent with nothing to show for it.
Sure, renting gives you the peace of mind that you’re not responsible if the toilet breaks or the wall rots, but I promise you, if you are renting from someone, you are probably both paying their mortgage and putting money in their pocket every month, even with the costs of maintaining the house.
So when you do the math, owning makes sense. A mortgage payment will cost less each month than a rental, and you can make income from renting it out. The same logic behind buying a Tiny Home for sale applies to a typical house as well.
But there are downsides to owning a house as well. It’s a lot of money, and a lot of commitment. You’ll lower your housing costs, but you’ll need a down payment and closing costs up front. And then you’re committed to maintaining the property and paying the mortgage, probably for 30 years. That’s a lot to think about in your twenties or even thirties. Not to mention, you’re probably not ready to settle down yet— you can rent it out and live elsewhere, but buying a house stakes you to one specific place in the world for as long as you own it.
I was ready for that. I love Boone, North Carolina. And I was an army brat, who moved every three years all through my childhood. But if you’ve only grown up in one or two towns, you’re probably not ready to settle. To explore life, it makes sense to rent for a while.
The Tiny Home advantage is that you get the mobility of renting, with the benefits of ownership. For less than half of what you’d pay for a house, you can live in the tiny house of your dreams, with all the bells and whistles. You can move it across the country for your dream job, or you can sell it on the very strong resale market when you’re ready for something bigger.
Are you ready to invest in an asset, one that can travel with you, be resold at a profit, and that costs less than your rental payment each moth to live in? Get in touch and start the process below.