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I've been intrigued by the idea of tiny homes as of late. After the rat race of going to school and getting into a bit of debt, it has made me more frugal than most. I see most people living day to day in quite a bit of debt. At most, the people I know might have a years worth of expenses in an emergency fund, but what about after that? Huge expenses and moderate investments which will be quickly depleted.
So, my idea is to basically work a normal job in the IT field. Do the rat race for 10-15 years, while living in a small home. I figure land in a moderately accessible place (~40-45 minutes from Boston) and a small home would probably cost me in the region of $40-100k. The land is definitely the highest cost. The low end would be a small lot (1/3 of an acre, less accessible). The higher end would probably be for 2-5+ acres.
My only concern is that my girlfriend of a few years will certainly not take well to this idea. She is not the type that needs a 3000+ sq. ft. home, but I can't see her living in a 300-400 sq. ft. home either. Personally, I don't care what anyone thinks because I know that I will be much better off than them in 20 years. That being said, I feel like many women are more sensitive to "keeping up" with their friends.
I figure that housing, and the maintenance of (including taxes), is by far the greatest expense that one will be burdened with throughout a lifetime. Ideally, I'd like to get to the point where I could take a year off of work if I wanted to and not have to worry about starving. I am not a lazy person by any means, but I don't think anyone should live paycheck to paycheck and I have been doing so since I graduated college.
There's nothing wrong with a small starter home. Go for the tiny house and upgrade if you need to. Any house you buy now is most likely not going to be your "forever home".
If you look at the interior open plans of a lot of starter homes these days they're mimicking Vancouver condominiums.
The judicious use of small space only has one drawback. The new homes are so small that your main problem is finding someone that's not claustrophobic.
If you take a look at vancouver condos they make better use of as little as 380 sq. feet compared to 1,000 plus sq. ft. in an old design.
Not sure if what you are seeking is going to cost effective.
Probably difficult to re-sell such a small home.
And if a well and septic are thrown in the cost is roughly the same for a small house as a large.
A better idea is to construct a larger home and just not finish it. Finish the part you will live in and block off the rest.
Land/lots - most rural towns require a minimum of one or two acres.
If momma ain't happy, ain't no one happy. Just sayin'.
-Mike
I agree. It isn't only about "keeping up with our friends" we generally have more stuff - clothes especially and we like to decorate our abode. Three hundred square feet in tight, for two!
I've looked into it as a vacation home and I think it's an good idea. Also as a guest house.
You do need to consider your girlfriend's needs. though.
Designing around a small space makes sense for an apartment or condo in the middle of a city, but I don't understand the attraction of building a small freestanding home on a large lot. Are you really gaining anything other than a bit of initial savings on construction costs?
Quote:
A better idea is to construct a larger home and just not finish it. Finish the part you will live in and block off the rest.
Makes a lot of sense, particularly if you keep the unfinished portion as unconditioned space. Otherwise heating and cooling efficiency seems like it would be VERY poor in a 400 sq ft house, just from the square/cube law. In an apartment building you don't have this issue because the actual building envelope encompasses all your neighbors.
If you want to live in a small home for the next decade, buy a condo.
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