Downsizing, Finances, Lifestyle Shifts: A Look Into a Tiny House Decision

tiny house

Living in a small space is a lot of compromises. Things need to be tucked away. Furniture has to be just the right size. The house should also be safe and able to cater to the basic needs of the family. There’s a lot to pack within a few square meters.

When every day is a struggle between living a good life and paying the bills, thinking of owning a house might not be the top priority. Real estate investment is a huge expense, and more often than not, low-income families have so many other things to worry about.

On the other hand, there are good sides to paying a monthly mortgage for a house than paying rent for a space you will never own. For one, you’ll end up having your own house, free of landlords. It can also be something you can pass down to your heirs. Over time, there’s a bright future where you’re free of the monthly rent.

One way of making this possible is through a tiny house or even just a small house. The size of a tiny house is less than 37 square meters. Other not-so-tiny houses can reach up to 92 square meters. In defining your tiny house, it’s much less of the description of the tiny house but more on your budget and needs.

Downsizing

Before moving into a tiny house, it’s important to learn how to downsize. According to the Cambridge Dictionary, to downsize is to “to move to a smaller home, usually because your home has become too large for you or as a way of saving money.” Sometimes, downsizing means letting go of belongings that no longer serve a purpose to your life.

To a certain extent, downsizing takes on principles of minimalism. Everything must have a purpose. Those that don’t add value to your life needs to be gone.

This could be a difficult process because it means letting go of things. For some reason, letting go of stuff is hard for humans. For some, things represent something sentimental. Things also give them a sense of comforts to the point that it becomes addicting.

Having less stuff and less clutter can also be comforting. There will be less time allotted for cleaning while having more space for movement. The brain will also not need to process a plethora of information while entering the room. In addition to this, you can also donate the items you’re letting go of, giving you a sense of altruism that can lead to a feel-good moment.

Let’s Talk About Finances

money

Downsizing or simplifying your life can save you a lot of money. For instance, having and buying less stuff can already convert those shopping bills into digits on the savings account. More importantly, living in a tiny house significantly lessens the financial burden.

An average 2,600-square-feet American home has a median sale price of $236,000. If a person takes this from a loan, the price can still go higher, especially with the presence of interest. On the other hand, a tiny house would only cost $60,000 on average.

According to research conducted by iProperty Management, 68 percent of people living in tiny houses do not have a mortgage. 55 percent of tiny house owners have $10,972 saved, on average. They have a good standing on credit card debts as well. 89 percent of tiny house owners have less credit card debt than an average American while 65 percent do not have this debt at all.

Get Ready for Lifestyle Changes

Perhaps, the most apparent lifestyle change in moving to a tiny house is the limited amount of space. There won’t be enough room to move around. Rooms will also be a lot smaller, or people will have to share. If your hobby takes up so much space, you may have to sacrifice one room. Making everything fit into the few square feet of the house, but it’s something people get used to.

Some people tend to spend more time outdoors to avoid feeling boxed in. Luckily, tiny houses often make room for a sufficient outdoor area. Homeowners can start a little garden or just a seating area by the law.

Additionally, living with less also means that people can’t mindlessly buy new things anymore. Otherwise, the tiny house will be swallowed by clutter, and there will be no room for anyone to live in.

Having a roof over one’s head is a basic need. This is a need that can eat up a huge chunk of a person’s income. Therefore, finding ways to make it more secure and stable is essential to staying afloat.

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