An RV park in Loveland is launching Phase 1 of what it hopes will be a successful tiny house movement within the community, and this is a trend that has captured the imagination of many Colorado residents.
It is hard to deny the whimsical charm of these miniature abodes; tiny home builders consider every detail, working storage and convenience into closet-sized spaces. Like a gypsy wagon, many tiny homes can be hitched to a vehicle and roll right on out of town – although they can also be laid on a tiny foundation with demure landscaping put in place to make home-sweet-tiny-home a more permanent location.
Some tiny home owners are drawn to the idea of “living large” thanks to a smaller house payment, or the ability to pay off a smaller loan on a tiny home in a shorter period of time than a traditional 30 year mortgage. Some look to tiny homes as ideal guest houses, or second homes in another state or in the mountains – a bit like a modern day RV, but with the solid feel of real architecture. Others like the idea of customizing a home – minus the lofty price tag of a custom built traditional home.
Living small – really small – is an interesting proposition. It’s definitely not for everyone; Census Bureau data puts the size of newly constructed single family homes at 2,467 square feet on average, while a typical tiny home clocks in at 120 square feet, with tiny mansions maxing out at 500 square feet.
A few things to consider if you’re thinking small:
- Where will you park it? Do you have a large yard? Can you rent space or buy a plot of land?
- How will you insure your tiny home? This will take a bit of research on your part, as insurability and costs depend on size, mobility, location, etc.
- What features do you want and need in a tiny home?
- What is your tiny home budget?
- What if it turns out you are a bit claustrophobic, after all? What is the resale value of tiny homes, and how will this affect you financially?
Have you or anyone you know been bitten by the tiny house bug? Tell me about it – share a picture if you’ve got one. Let me know what your journey to tiny home ownership was like.
The Meyers Group