More and more people prefer owning a tiny home now than in recent history. Tiny home living, as a trend, has become so popular that it is no longer limited to DIY enthusiasts. Many tiny home builders have also gotten into the business. There is greater regulation, which means you can find standard and proper properties to purchase and live in.
Affordable pricing seems to be the great perk that drives many potential homeowners to tiny houses. However, the pricing can range widely and depends on many factors, including:
- Access to water
If you find a property that seems to be just right in every possible way, there may be many things you don’t want to ignore. Here are 4 points that you should consider when choosing the perfect tiny house.
1. Zoning Permits
Anyone who sets about to build a tiny home knows that overcoming all the complex zoning restrictions can be quite a task. This is probably because most counties are only getting used to the concept of small living. When you choose to purchase a tiny house, make sure that it is built to meet all the local zoning requirements. Keep in mind that many states and countries don’t yet know how to regulate these properties the right way.
The dealer should be able to provide adequate proof to prove that their houses are up to code. You can also seek the assistance of an attorney to ensure you are choosing the right property.
2. Consider Space
Tiny homes measure in size from 100 square feet to 400 square feet or slightly more. A traditional house will measure 1500 square feet or more. So, you cannot expect a tiny house to have enough room to work with. So, you must determine the amount of space you will require.
Many factors come into play here:
- Consider your family size. If you have young kids, it will be easier for them to adapt to smaller living. Older kids will require more space to provide them with some level of privacy.
- Consider what you will be using your tiny home for. Will you be working from home? Consider the type of working space you will require.
This will help you find tiny homes with the right amount of space and features so that you can effectively accommodate your requirements. There are creative ways to fix most of the space issues.
3. Financing Options
Given the limitations in regulating tiny homes, there are very few options for financing these properties. If you need a mortgage on the property, look for a dealer that can assist you with financing as well. Reputed tiny home dealers have tie-ups with preferred lenders. This can make it easier for you to get a mortgage.
The chances of finding a conventional lender financing a tiny home are much less. There are many factors at work here:
- The tiny house should be built on a permanent foundation
- Appraisers will need to find comparable properties within the area
- The FHA loan program has a minimum square foot requirement that may be more than that for a typical tiny home
It would help if you explored the dealers’ financing options and more similar properties in the area.
4. Property Inspection
It is also recommended to get a tiny house inspected before you make a buying decision. Buying a tiny house should be handled the same way you would a traditional large house. Besides, there are potential limitations to building codes and permits. So you want to be certain that you are making a sound investment. You wouldn’t buy a traditional house without getting it professionally inspected. So, make sure to follow this simple rule with a tiny house as well.
Check whether the kitchen is designed well, the living spaces get sunlight, and all the systems work well. Some of the things that need to be inspected more than others include:
- The house must be up to code
- The outlets must be spaced apart
- There should be running water and no leakage
- The electrical wires must be properly installed
- There should be proper insulation
- The plumbing must be working properly
Even if some issues seem minor, they can become major issues over time. An inspection will also help ensure that the property will not cost you more than its worth.
Some tiny home dealers allow you to rent tiny homes and experience small living before you decide to purchase their brand new tiny homes. So, consider all the points mentioned above when looking for the perfect tiny house for your family. A tiny house may be a smaller investment than a traditional house, but it will still cost a significant amount of your hard-earned money. Spend some time learning about the property and getting professional inputs before making a decision.