Downsizing? This is not just a baby boomer trend, because they are empty nesters or trying to get out of house and yard cleanup. No this is a most recent trend of the Millennials. Millennials are wanting to use the money for a home to travel and spend more time with friends and family instead of being strap down with a mortgage payment. So they are not buying over their budget with a starter home, they’re starting with a tiny house.
It’s tiny house Craze!
These perfectly planned mobile homes that take advantage of nearly every inch of space for functionality sake are the latest and greatest in real estate trends. This is a more simplified way of life in the downsized fashion.
The Tiny House Trend
Under 50,000 in cost
So who wants a tiny house? What is wrong with the normal American home? Most of the tiny home hunters are looking for these smaller living spaces because of one of two reasons: financial or environmental. The average American home is over 2,000 square feet and costs on an average of $200,000. Every homeowner will be paying off a mortgage payment for about 15-30 years. This is too long for the typical tiny house purchaser.
Most Americans will spend a good chunk of their lives working just so that they can pay off that massive mortgage, leaving them stuck in a vicious cycle of debt. The main idea behind the tiny house trend is that it allows your home buyers to build or buy, and design their home without entering into that cycle of debt for years.
An increasingly popular choice for tiny houses aren’t houses, but mobile homes, school buses, converted shipping containers, or small houses that can actually be towed behind a truck on a trailer. Perfect for millennials, known for job-hopping and their traveling tendencies who may find themselves in a place where buying the traditional home isn’t viable for their location or current economic state.
The idea behind the trend of tiny houses is that without getting stuck in the trap of debt, tiny house folks can live in a home they own outright and do more of what they love, and less of the working that they may not love as well.
The Tiny House In Colorado
In Colorado, the towns of Durango, Buena Vista, Telluride and Walsenburg have all changed or are working on rule changes to embrace possibilities for tiny houses in the community. Here are some other areas that are welcoming the tiny homes communities: Denver, Boulder, Woodland Park, La Junta and Colorado Springs.
Tiny Homes are not for everyone and this might just be a fade, but the idea of financial freedom and traveling might appeal to a lot people. A tiny house might have a place on your lawn. Would you consider a tiny home?