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September 24, 2017

Tiny Homes Are Making a Bigger Mark

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Tiny Homes Are Making a Bigger Mark

Tiny houses are trending bigger nationwide. Interest in small-home living among the public has gained momentum since the recession, and made some Americans crave a simpler, less expensive way to live, according to U.S. News & World Report.

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“I still consider it, frankly, a fringe movement, in the best possible way … but I think we just really hit a tipping point where it went into general public awareness,” Ryan Mitchell, creator of the tiny houses and simple-living blog The Tiny Life, told U.S. News & World Report.

These small homes, often built on a trailer and portable, tend to be under 700 square feet. They tend to cost a fraction of a typical home, as low as $10,000 or up to $100,000, depending on the size.

TV shows are giving viewers a peek at this new type of living, especially on networks that HGTV that have several shows featuring small-home living such as “Tiny House Hunters,” “Tiny House Nation,” and “Tiny House, Big Living.”

Dan Louche, founder of Tiny Home Builders, credits such national TV attention as growing the awareness of small homes and helping to expand this niche.

“Things have gotten easier because everybody knows about tiny houses, so now there’s a lot more companies trying to jump on that bandwagon – and not just tiny-house companies, but traditional financing like SunTrust and insurance companies,” Louche says.

Matt Parker, a real estate broker in Seattle, says some of his clients are finding such small spaces can even be more functional than a large floorplan that was built 30 years ago. However, zoning requirements are limiting new construction of smaller homes and still favoring larger bigger builds. He says supply may be the bigger issue with small-home living than demand. 

“The demand is there [for tiny homes] … but the product is not there,” Parker says.

Source: “The Big Impact of Tiny Homes: How Little Houses Are Changing Real Estate,” U.S. News & World Report (Aug. 5, 2016)