Tiny houses are becoming quite the craze. Sell your bigger house and build a small one for a fraction of the cost, not just initially but the cost of maintaining as well. But how much do you really know about the hidden costs involved in a tiny house?
One of the hidden costs could be in transportation. Many tiny homes are not built on site but actually off-site and then transported to the loft. These large vehicles need many different safety features and can cost as much as $100 a day or more just to use the vehicles. If you plan on telling the house around yourself and not have it on a permanent lot, you'll need to know the weight of the home and then the towing capacity of the vehicle you're using. You also need to concern yourself with fuel costs and wear and tear. If you use a rental truck to move it you may have to also rent towing mechanisms along with the truck which is vary in price.
Calculate the cost per square foot. They are actually more expensive per square foot than the average home. These homes are between $200 and $400 per square foot where the average American home is less than $100 per square foot. Of course, this depends on where you're located in the country. Most tiny homes need to maximize the usability and practicality of every square foot available and this naturally makes the more expensive.
The construction costs. If you're planning on doing it yourself tiny homes average about $23,000 however, if you use a company that specializes in construction of tiny homes you can be looking at upwards of $50,000 or more. If you do it yourself there are issues that come along including the entire structural integrity of the house. Many homeowners underestimate tools, time and materials. If you're planning on moving the unit, most homeowners themselves cannot certify the home as an RV whereas contractors can ensure that it's a certified RV.
Related: Is a Tiny House for Us?
Land costs also can play into the total cost of the home. If you plan on putting it in the backyard of a larger home that you own you'll need a permit. If you're planning on buying a lot specifically with the intent of building a tiny house only to factor in the cost of the land, which can vary greatly depending on its location. Check with zoning regulations and building permits to make sure that you're covered.
One big cost that many homeowners don't consider until they've moved in is a laundry costs. It usually doesn't make sense but washers and dryers in homes that are 500 ft.² are smaller so you'll need to visit the laundry mat and factor in that budget. On average, those that do about three loads of laundry per week spend an average of $9 to $10, or upwards of nearly $500 per year and that doesn't include the cost and time to travel to the laundromat and wait.
Tiny houses are certainly quite a rage and built properly they can be quite functional and practical but it's best understand all the hidden costs involved in owning, buying and building a tiny house. If you're interested in looking at tiny houses already built and currently on the market contact my office today is this search feature is not quite the norm in most advanced searches.