The tiny house movement is about downgrading your lifestyle to live a more exhilarating life without debt or a huge mortgage hanging over your head. While you can buy a tiny ready-made house, you can save a lot if you decide to design the small home yourself.
Purchasing or building a tiny home is very different from the traditional home. One might be forgiven to assume that since the house is smaller, there will be lesser planning. However, that is not the case. Moving into a smaller place is a significant change that will take some time to get used to. That means there are multiple unseen problems to consider.
DO not let the extra planning discourage you from owning your dream home. Every time you see tiny houses for sale posters, multiple things should come to mind. These include;-
Most life milestones boil down to timing, from starting a family and having children to switching jobs. The same case applied to when you are buying a tiny house. When it comes to timing, here are some of the things to consider;-
- Life Transitions
If you have children, it would be best to plan your big move around your child’s school schedule. Undoubtedly, nothing is more important than your child getting the best education. Consequently, the last thing you want to do as a parent is to interfere with your child’s progress with your big move.
Plan on moving, completing, or purchasing your new home toward the end of a school semester. This way, you and your child will have settled into the new house before the beginning of the next school year.
Additionally, take into consideration any significant life changes before purchasing your new tiny home. The small home should not only cater to living arrangements but also your professional demands.
- Seasons and Weather
Though tiny houses have been around for a while, finding one is more challenging than you would expect. With not so many small houses up for grabs, many soon to be n homeowners will need to build their own.
Instead of viewing this as a roadblock, view it as an excellent opportunity to customize your tiny home to suit your preferences. Notably, before you commence construction, you will need to ensure that the predicted weather aligns with your timeline.
Whether a large or tiny house, it is not meant to be built during cold months. That is because it is more difficult to get any work done. Besides, deliveries take longer to arrive, thanks to snow-blocked roads. With this in mind, you should plan to build your tiny home during spring-fall.
This is perhaps the most obvious consideration when making any purchase or investment. The thumb rule requires that your incoming funds versus the outgoing ones are at least 30%. That means that collectively, your current debts and monthly payments should not exceed 60% of your monthly income.
That is because homeownership is filled with unseen costs. Besides, banks tend to be hesitant towards lending to such clients as they view them as unreliable. If you discover that your debts are unappealing to lenders, there are some steps you can take. This way, you can still own the house of your dreams without spreading too thin. Here are some of the ways to put your finances in order;-
- Continue saving
- Consolidate your debt
- Seek help
Getting the Right Permits
The most significant frustration when building your tiny house is getting all the zoning permits. It is no secret that most areas are yet to get on board with the idea of smaller living. This, combined with the lack of information, has caused many to consider tiny houses illegal. Not because small homes are unsafe but because the state does not know how to regulate them properly.
Do not allow zoning permits to keep you from owning your dream home. Instead, look for creative ways to work around your area’s laws. Consult a buying agent or a real estate lawyer to ensure that all your orders are in order. Though this is an unseen cost, it will protect you from getting into trouble in the future.
Tiny homes are yet to be entirely accepted, both by law and society, as a way of life. However, that should not stop you from actualizing your dream of owning one. Whether you decide to purchase or build one from scratch, ensure you have some of the factors discussed in this article in mind.