Pros and Cons of Buying a Tiny Home Part 2 of 5)

Pro: Yes, they’re affordable

The price is right for tiny homes regardless of location.

“A tiny house costs a lot less to build than a full-sized one. According to The Tiny Life, it’s possible to build a tiny house for $23,000 on average. The average price for a full-sized house, by contrast, is $272,000—more than 10 times as much,” said Money Crashers. “Cutting back on housing expenses enables tiny house owners to put more money toward luxuries (such as travel), save for retirement, or simply work less.”

A tiny home also often means no mortgage, which, if the buyer can swing it, means they don’t have to pay interest and can own their home outright. “The Tiny Life reports that 68% of tiny house owners own their homes free and clear, as compared to just 29% of all homeowners.”

Con: Yes, they’re small!

Technically, this could also be a “pro” for those keen on tightening up their footprint, but, for most people, the idea of living in 100 to 400 square feet (the average size of a tiny home), is a deal-breaker.

“Living in a tiny home means you'll have to do a lot of sacrificing in order to downsize,” said Little House of Four. “More often than not you'll have to give up your private office, art studio or home gym. Your washer and dryer will more than likely end up in your bathroom or kitchen and you'll have to do some serious compromising when it comes to what you bring into the home. There are ways to remedy these ‘sacrifices,’ but you'll still be giving up your privacy and downsizing no matter how creative you get with storage.”