The concept of the granny flat is nothing new. Or a single adult can move into the cottage and rent out the main house. In the future, the same space can become a guest house for adult children and grandchildren. Bigger and sturdier than tiny houses, ADUs provide housing options for young adult children, or aging parents that require in-home care while retaining independence.Ī homeowner can rent the space in a small cottage for several years to build up equity or retirement savings. These are small but permanent housing options such as backyard cottages or apartments built over a detached garage. The next step up from tiny house living is something known in the industry as accessory dwelling units or ADUs, sometimes referred to as “granny flats.” Here’s what you need to know about why buying or building a tiny house can actually be a huge mistake. But in the case of tiny homes, what looks good on reality TV might be much less appealing in real life - especially if you have children. And at first glance, they’re especially attractive to millennials. Depending on which definition you use, a tiny home is one that’s less than 400 to 600 square feet, but some tiny homes can be as little as 160 to 200 square feet.Īll the hype surrounding tiny homes piques the interest of individuals looking for a financially and environmentally sustainable lifestyle. Reality TV shows like “Tiny House, Big Living” and “Tiny House Nation” have popularized the notion of stripping one’s lifestyle down to bare necessities to reduce living space to the absolute minimum needed to get by. There’s nothing simple about living in a tiny home. ARE TINY HOMES WORTH IT? 21 REASONS WHY THEY’RE A HUGE MISTAKE The biggest clue that tiny house living is out of vogue: HGTV has stopped running its marathons of Tiny House, Big Living shows. While a tiny house, especially a portable one, might work for the occasional country get away or a nomadic lifestyle, it probably won’t work for most people looking to put down roots and live comfortably for the long term.īesides, with the high cost per square foot, the added cost of land rental, and the hidden costs of living tiny (such as eating more take out), tiny homes are generally not a good value. ( free image) The Tiny Houseįirst, let’s consider the Tiny House trend, a fad that emerged in the past 5 years, but that has already lost its appeal in the real estate market, according to many sources, including a recent report on the Today Show.Ĭommon sense tells us that, although living tiny might seem like an adventure at first, being crammed into less than 500 square feet gets old after a while. There are several trends, with pros and cons. What alternatives exist for millions of Americans seeking modestly priced housing? In fact, we are left with precisely the opposite effect. Very few new apartments have been built to serve the needs of households with limited incomes, because builders have instead catered to middle and upper income tenants.Īll of this mass production and establishment of common interest communities was supposed to make housing more affordable. The past decade has also seen a surge in new construction of apartment buildings, mostly on a large scale, and funded by real estate investment corporations and trusts.
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