The tiny home movement continues to gain popularity across the world…and we’re here for it!
The lifestyle embraces minimalism, greater financial freedom and prioritises experiences over possessions – and with property prices increasing each year, this trend is redefining the traditional notions of housing. Take a look at these three reasons RE/MAX shared with us why going tiny could be just what you need:
More affordable entry into the property market: If you’re a first time buyer, you might find that buying a plot of land and adding a tiny house to it is more affordable than purchasing an existing home, depending on the area. Get some quotes, check the numbers and compare your options to make sure you are fully aware of the costs.
Easy passive income opportunity: If you are already on a free-standing property and have the space, why not add a tiny house to your primary residence and rent it out to generate additional income, which in turn can contribute towards your home loan.
Affordable property investment: If you’re looking at investing in property, a container home is a good option to expand your property portfolio, without having to stretch your finances too much.
Before you start, consider these two factors:
Road access: As the tiny home is generally pre-built or modular and needs to be craned onto the property, you will need to make sure that there is sufficient road access and remember to check if you need any special permissions for the crane to be on the road.
Building regulations: Find out about the building regulations and permissions from your local city council. While some areas embrace tiny homes as a viable housing option, others may have restrictions on minimum dwelling size or zoning requirements. Making sure these homes comply with building regulations can also be more costly than buyers might realise.
