Research your best loan options
Pre-Approval >>

What are the Pros and Cons of Tiny Houses?

Real Estate

What are the Pros and Cons of Tiny Houses?

Why would people buy or build a tiny house rather than purchasing an RV, even though some tiny houses can serve as an RV? There are several pros and cons to living in a tiny house, a phenomenon that has resulted in television shows that have captured the attention of prospective buyers, especially those on a very tight budget and others who simply want to be mobile.

A tiny house is usually defined as a home between 100 and 400 square feet. Today’s average tiny house costs as little as $23,000, which means a lot of buyers aren’t tied to a mortgage. Tiny houses can be built on-site, or they can easily be shipped to the buyer because most will fit on a flat-bed truck. More companies that specialize in compact houses are popping up across the country, making it much easier for anyone to go small.

But is the tiny house here to stay, or is it just a fad that will fade away like the hoola-hoop? Here are a few pros and cons of buying a tiny house:

Pro: Big money savings and little commitment. When you save all that money, especially in a hot market like metro Denver where the median home price is nearly $420,000, you can invest it in yourself to improve other aspects of your life, including a change in scenery on a regular basis.

Con: Tiny living can be tough on relationships. Two people living in a 300-square-foot house can be very challenging. If you have a disagreement or want solitude, it’s impossible to find a space to retreat to. A relationship in a small home requires the right relationship to work.

Pro: It can be anything you want it to be. A tiny house doesn’t have to be a full-time dwelling. Some choose a tiny house as a home office, or keep a tidy little place ready for when the in-laws come to visit. Those parents who have seen their millennial children come back to the nest have turned to tiny houses as a way to give their adult kids a place to live while they still maintain privacy.

Con: Space is truly precious. The idea of living small might be huge, but the disadvantages become clear when issues of day-to-day living arise. You can’t have your own home office, you can’t turn on the TV late at night, and if you have a lot of stuff, there is not enough storage for your items. When you live in a tiny home, there is going to be some serious compromise.

Here are some other pros of owning a tiny house: You can live off-grid in a tiny home. You can set up your tiny house so that you do not require your city’s electricity at all. You can also purchase a solar kit to power your RV.

Tiny houses are cozy. They are warm inside. And there are plenty of tips and tricks out there for surviving in an RV in the winter. A tiny home is cheaper and easier to keep warm than a larger home.

Tiny houses can be built with eco-friendly materials that are more affordable than an environmentally-friendly large home. You can also live a less cluttered life. Downsizing to a tiny house can be a liberating experience.

Following are a few more cons of tiny houses: You have to have land. While tiny houses are cheap, you still need a place to park it. You will also need to manage your sewer system, most likely with a septic system, and you will need a well for water.

You’ll need to drive further to get supplies. You will probably be living on the outskirts of town, so the driving distance for water, food, toilet paper, and other necessities will take more fuel, time, and money.

There is less room for a family. In fact, it is nearly impossible to raise a family in a tiny house. Children need room to roam and play. They need their own bed, and kids also mean more supplies. You’re tiny house will feel claustrophobic.

There is little or no room for hospitality. You can’t really entertain friends in a tiny house, which may only have two chairs. So forget the birthday parties and having friends over for dinner. Living in a tiny house can become very lonely.