💼 Tiny Homes, Big ROI
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TINY HOME MOVEMENT
The tiny home movement is gaining big traction amidst historical affordability challenges in North America.
According to new research, the tiny homes market is projected to grow by $3.5 billion between 2022 and 2026. That’s certainly not tiny!
Interest in this asset class is soaring, and a few trends are working in favor of this tiny known asset:
💸 Prices: North America has an affordability crisis, and tiny homes are affordable. The average tiny home costs around $80,000, whereas a condo or single-family home averages $347,000.
⚕️Housing is Health: We also have ongoing homelessness issues, and the reality is that housing is health. Tiny homes offer an inexpensive solution to help get people off the street and into a warm bed.
🏡 More Homes: Tiny homes provide light densification options such as ADUs, a garden home for aging parents, an outdoor office, a bunkhouse for the kids, or a long or short-term rental to supplement income.
💳 Inflation: Frugal living is on the rise, 60% of tiny homeowners have no credit card debt, and 89% of tiny house dwellers have less credit card debt than the average American.
Also, tiny home designs are evolving. Less like this…
And more like this…
The reality is, particularly with younger generations, people increasingly want less stuff and more life.
According to recent data from NAHB, the size of homes is slowly decreasing over time. With housing costs these days, expect this trend to continue as builders and buyers alike look for more affordable ways to put a roof over their heads.
For all these reasons, more and more people are considering tiny home options. 23% of all Americans said they would, or would definitely consider, living in a tiny home. For the age group of 18-34, that jumps to 34%.
Also, given the current economic environment, an informal study by Briefcase found that 100% of crypto celebs now need to live in tiny homes.
It's no surprise that 688,500 tiny homes are sold monthly in the U.S. Part of the draw to tiny living is a new reality that we need less space, thanks to Moore's Law of real estate.
📚 Bookcase? I got Audible.
📻 CD Tower? Nah, Spotify has me covered.
📺 DVD collection of all Tiny House Nation seasons? Netflix baby!
There is a growing consumer demand for less space these days, thanks to compounding technological advances and affordability needs.
