When it comes to home buying, Millennials are all about customization; cookie cutter houses don’t draw us in the way they did generations before. Also unlike the generations prior, many Millennials are burdened by debt, making those dream homes unrealistic. How can you have the best of both worlds?
Enter tiny houses: an effective intersection between expenses and individual expression for Millennials looking to become homeowners. Here’s a closer look at some of the benefits of tiny homes and why they’re a great choice for young buyers.
Money, Money, Money
Most tiny homes cost somewhere between $25,000 and $80,000; a pretty penny, but compared to the $393,700 average sales price of new homes in April 2019, still appealing. As tiny homes become more commonplace, more tiny-home builders are cropping up, enabling you to choose a builder and price point that works best for you.
Another money saver? Utilities. No matter how you slice it, warming and cooling a home less than one sixth the size of an average home in the US is going to cost you less. And that’s not considering even more cost-effective renewable resources, such as solar panels or a wind turbine – a win-win for you and the environment.
Something to keep in mind, though, is financing a tiny home can get complicated. Mortgages typically aren’t available for people looking to go tiny. However, that doesn’t mean you have to hand over $80,000 in cash to make your dream come true. There are alternatives to mortgages available for tiny houses, it just takes a bit of research.
A nickname for Millennials is the Wellness Generation, due to the value we place on living healthier. Actively pursuing wellness is much more manageable within a tiny house.
Staples of tiny living, such as having less clutter and being more connected to nature, significantly improve mental health. People in tiny homes are likely resting better too, considering their bedrooms are pared down to the bare essentials, which is a proven contribution to better sleep.
The minimal maintenance and upkeep that comes with only having to manage a few hundred square feet also frees up your time for healthier activities, such as meal prepping or exercise. There are only so many hours in the day; wouldn’t you rather spend your time focusing on what you value most?
Perhaps the most well-known aspect of tiny living is it requires some serious downsizing. But more than just tossing out items and adopting a capsule wardrobe, it’s about adopting a new lifestyle — one that powerfully draws in young home buyers with adventure and freedom.
It’s easier to travel, for starters, especially if your tiny home is on wheels, allowing you to bring your lodging with you. Taking a job across the country? Even if your house isn’t portable, packing and uprooting your life is much more efficient when you own fewer items.
Are you one of the Millennials eschewing marriage and kids? Tiny home living is ideal for the independent lifestyle so many 20- and 30-somethings have embraced.
There’s also the overall aesthetic of living tiny. Our society is driven by social media, and it’s easier than ever to connect with people all around the world. If you’re someone who finds yourself browsing Pinterest or searching for blogs that celebrate tiny, minimalist, or simple living, why not adopt it? Become one of the influencers you appreciate and show others how disentangling life leads to happiness.
Millennials are experiencing the world with a unique perspective, and they’re placing value on things in a way different from previous generations. Tiny houses are a way for young buyers to emphasize what is uniquely important to them while also achieving the more-traditional goal of homeownership.
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Mia Zozobrado joined Builders Digital Experience (BDX) in 2019 as a content writer. A graduate of Southwestern University with a degree in English, Mia is passionate about the written word and making connections.