The tiny house trend has taken off, and it’s showing no sign of running out. Maybe it’s because people are starting to downsize their lives or because the price of real estate is soaring. Some even believe it to be a result of a backlash against the McMansion trend. Whatever the reason is, people are starting to get in on the tiny house train, and they’re not stopping. And if you're thinking of building a tiny house, you'll want to know how much it will cost you.
Tiny houses have a wide range of different prices, and how much you expect to pay depends on the type of house you want to build. To help make things easier, we’re going to break it down by the most common types of tiny homes you can get.
The price range that we’re giving is based on the assumption that you will be doing most of the building or that the kits have minimal construction required. The variation in your house’s price depends on the house’s size plus the features you want to include.
Fully-mobile tiny homes are usually the more affordable option, primarily because you don’t have to buy land or a foundation to make them. Of course, they have cheaper plumbing facilities and electrical facilities too.
It is possible to make a super-tiny home for under $10,000. However, most people tend to need at least $12,000 to $30,000 to make a mobile tiny home worth living in. This does not, of course, include the price of the vehicle you’ll need to cart a tiny house around.
How Big Can A Tiny Home On Wheels Be?
A tiny home with a foundation can be larger than a tiny home on wheels, which is meant to be mobile. Most tiny homes that are on wheels are no larger than 8 x 20 feet. However, the maximum is closer to 36 feet in length as long as you have the right towing equipment.
With that said, you might need special licensing for a larger tiny home trailer. Larger tiny homes can cost between $25,000 to $40,000 to build.
What Other Costs Are Associated With A Home On Wheels?
Though a tiny home on wheels can be a great project and lifestyle to pursue, it does come with hidden costs. We’re going to take a look at some of the more notable costs you need to consider:
- Wear and Tear: Living life on the road will put stress on your car. Set aside for more oil changes and repair visits if possible.
- Lot Fees: Along with wear and tear on your towing vehicle, you may have to pay a lot fee to park your tiny home if you do not have a place of your own. This can easily reach up to $1500 a year.
- Insurance: Much like with homeowner’s insurance, you will need to have insurance for your tiny home if you want to hit the road. Insurance companies usually cover this with RV insurance or an additional rider on top of your regular car insurance.
The price to build a tiny house on a foundation is between $12,000 to $50,000 to build in most situations. You'll also need to budget $5,000 to $8,000 for the foundation.
Foundation-based tiny homes are often slightly larger than wheeled tiny homes. They also have different plumbing fixtures that can increase the overall price tag. Most people will need to spend between $12,000 to $50,000 to build it.
One of the more popular tiny home features exclusive to tiny homes with a foundation is a basement. If you choose to get this feature for a potential tiny home, you should expect to have a minimum of $4,000 added to your price tag.
Most full basements in tiny homes will cost between $10,000 to $40,000 to fully create. Petite basements that have minimal amenities are going to be the cheaper ones.
Love the idea of a little more space, but only want a teensy bit more? A crawlspace would be a better option. Crawlspaces cost around $10 to $7 per square foot. This means a typical crawlspace will be around $2800 to $4000 for a typical tiny home.
If you’re not a DIY type of person, it can be tempting to take a look at tiny home listings near you. This is doable since there are now entire tiny home communities popping up across the country and on the net.
Most of the time, though, it’s cheaper to build your own tiny home. The land and labor that can be tacked onto the price can make it hard to afford otherwise. It’s up to you to determine how much you would save or spend in each situation.
Yes, you can finance a tiny house. If you are curious about tiny homes and how you might be able to afford them, you’re not alone. There are ways to finance your own tiny home that could make your tiny house wish come true. To get more information on financing tiny homes, it’s best to talk to a qualified real estate professional who has a background specializing in unique lifestyles. It’s alright to reach out to someone, even if you aren’t sure a tiny home is for you.
Since the cost of a tiny house can vary widely depending on factors such as size, materials used, location, and additional features, you'll need to know exactly what type of tiny house you want to get an accurate estimate. It's also important to keep in mind that you can build your own tiny house, which can significantly reduce the overall cost. Finally, the cost of land and construction permits can vary widely, so it's important to consider these expenses when budgeting for a tiny house.