Reality TV shows such as Tiny House, Big Living; Tiny House Nation; and Tiny House Hunters have helped increase the popularity of the small-home lifestyle and the idea of living with less. But there are many factors to consider before downsizing.
According to a recent CNBC article, it’s important to consider the land cost. While a tiny house might make sense from a space perspective, the cost of the land may be prohibitive. In addition, it may require a cash purchase as some lenders may not approve loans for structures that small. Building permits and zoning regulations also should be considered.
“There’s a certain economy of scale that you achieve by building a bigger house. A lot of things become cheaper and easier,” Kim Skobba, an assistant professor in the College of Family and Consumer Sciences, told CNBC.
According to Skobba, tiny homes may work best either as permanent structures in RV resorts or as accessory buildings to larger homesteads, where owners of tiny houses may lease from landowners.
