The idea of living simpler has inspired homeowners and homebuyers of BIG houses to evaluate their quality of life and desires. As appealing as it is though, getting involved in the Tiny House movement may seem unattainable, or dare we say, “unrealistic”.
“Have you ever heard of Tiny Houses?”
“Oh! The ones that are like 1000 sq ft. I could never do that! “
“Actually, most are under 200 sq ft.”
“What!! That’s crazy!”
No doubt, downsizing to those parameters barely seems possible. Entertain these thoughts though; What if letting go of a lifetime of possessions could be replaced with liberation? What if your partner, who doesn’t have the same tiny dream, could find a reason to accept yours? What if you owned your home and your home didn’t own you!
Well, with some creativity, those inhibitions can be swayed! No matter what your situation is, there IS a way to get involved in the tiny house movement, increase your income, and ultimately, get closer to living debt-free.
Income property. For the person who loves the idea of tiny houses, but not actually living in one; they, too, can still reap the financial rewards. There are three options;
1. Backyard Rental. Generate steady income year round by renting it out to long term tenants, in laws, or college students home for the summer.
Bed & Breakfast/Hotel . Many Tiny Homeowners, like Nashville’s Music City Tiny House, use Airbnb.com to rent their Tiny Homes day by day.If a Tiny House is rented out daily for $100, that’s about $3,000/month.The best part is you can choose to rent it out as little or as much as you want. This is a win-win because budget travelers are looking for a local pit stop and Tiny House enthusiasts are looking for a trial run of the Tiny lifestyle.
Apartment To-Go. OK, so you don’t have much of a backyard, not even for a 16 foot trailer. Rent it to a trustworthy tenant who will care for it on their own property or an RV park/campground. To avoid any problems, do a background check and install a GPS locator on the trailer just in case.
Temporary Housing. With such an unpredictable economy and all the foreclosure signs lining the sidewalks lately , its no question why homebuyers would be disromanticized and homeowners would find a way to payoff their mortgage ASAP. There are two options for these folks:
1. Live in a Tiny Home temporarily as you build the BIG home of your dreams debt free. Ever hear of the Berzins family? They moved their family of four into a Tiny Home so they could save for their pay-as-they-build, “right-sized” home.
Rent out your BIG home while you live on premises in the Tiny House. Whether it’s avoiding foreclosure or doubling up on mortgage payments, simply enjoy someone else paying your mortgage with the outcome of owning a home.
Backyard Office. Tax write off! Work from home and use your return toward your mortgage.
1. Working from home, but not AT home is a way to keep family life and career separate. Not to mention, less gas,wear and tear on your vehicle , and no traffic.
2. Be a traveling merchant. Use it as a concession stand for coffee and baked goods, sell roadside art,flowers,or antiques, or offer services like a mobile hair and nail salon.The possibilities are endless to earn an income with a Tiny House.
Home Sweet Home. Live in your dream tiny house full time.
With a roof over your head and no mortgage bill in your mailbox (or P.O Box, for that matter) , take pleasure in knowing you won’t have to lug around that ball and chain for 15 or 30 years. Have more energy to enjoy your family and more time and money for experiences.
Whether you are current homeowners or looking to buy a home; hosting a tiny house can be an opportunity to get a BIG payoff for only a tiny investment.
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