Some people are saving more than $400 per month on living expenses just by living in a smaller home. If that's something you'd be interested in, then keep reading because there is a lot to consider and even more to gain by living tiny. One of the main reasons people choose to live in a smaller home is to save money, but what they're saving money for depends on their situation. Many will save money for travel, college fund for their kids, or even to pay off debt and live debt free. But many people will also live in a tiny house to save money to buy or build a larger house in the future. This is a great idea especially if you're planning on buying land and have some money to put down on some land because then you can live in a smaller home first while you're saving or building your larger dream home. When you live in a tiny house, especially a tiny house on wheels, you will have little to no mortgage to pay. Even if you do end up financing a tiny house, it might cost you around $300 a month for a $50,000 tiny house if you didn't put any money down on it and had to pay interest.
This tiny house from Tumbleweed is a prime example of some of the best you can get, top of the line tiny houses, still only costing around a $375 per month mortgage. Check out more about Tumbleweed via their website linked at the end of this article.
Most people will end up paying some sort of land rental fee, but in comparison with rent costs, this will also be relatively low too and usually only costs around $400 or less per month depending on where you park it. Another way that people save money by living in a tiny house that makes it easier to save for that dream house is because utilities are far more affordable in a small home. There is less space to heat making it very efficient, and lighting won't cost much if the home has energy efficient lighting. Most people pay under $35 per month for all of their utilities on a tiny house which is pretty impressive compared to the $100 most people pay in regular housing. Since tiny houses are so small, they are very affordable to build and can be built really quickly especially when built by a professional company. That being said, by owning a new tiny house, this can also save owners money on repairs that often need to be done in larger older homes. Plus, all of the stress that comes with never knowing what's going to come next. The other nice thing about having a smaller house is that any repairs can usually be done fairly easily on your own and won't usually cost too much unless it's an appliance that goes.
One of the other things people say they like about living in a smaller space is that they don't have a lot of room for extra stuff so they don't end up buying more than they can afford. When you live in a tiny house on wheels, you'll only buy what you need which affords you the money to save for that dream home or vacation. Once you've built your dream home and you're living in it, your tiny house can then make you some money on the side if you are able to rent it out. People are becoming more interested in staying in cute little homes that offer an experience rather than a regular hotel which makes tiny houses very popular on Airbnb. Some tiny houses rent out for at least $100 per night which could make you some good money if you park it in a desirable location. There are a few ways that tiny houses can save you money and actually end up making you money in the long run which is pretty awesome to consider.