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10 Ways To Save Money by Going Tiny

10 Ways To Save Money by Going Tiny

In the wake of the coronavirus pandemic, tiny houses are more popular than ever. Faced with economic and social uncertainty, many Americans are looking to live a simpler life. This year has been a busy and productive year for tiny homes throughout the world and the country.

When you first consider living in a tiny house, it can seem like it's a practically free endeavor. However, there are a lot of upfront costs associated with living in little houses.

There are many methods for saving money when it comes to living in tiny houses. It's important, though, to take all costs into consideration before embarking on a tiny house journey.

Are you wondering how you can save money by going tiny? Let's take a look at what you need to know.

1. You'll Have Lower Utility Bills

If you live in a modern small tiny house already, you will find that your utility bills are significantly lower than if you live in the average American household. On top of that, many tiny homes are built to be as green as possible, meaning that you might be able to rely on renewable energy sources. This doesn't just mean that your home is more sustainable, but it will also save you money in the long run.

Living in an off-grid tiny home can mean that you don't have to pay for city water or electricity. That being said, to have the basic amenities of electricity and water otherwise will have upfront costs that shouldn't be overlooked.

2. You'll Be Free From a Mortgage

One of the most obvious ways that living in a mini house can save you money is that it can give you freedom from a mortgage payment. Because tiny homes are typically a fraction of the cost of larger homes, many people have found it possible to pay for their tiny home with cash.

For those that can't do this, there are other options like financing. It is often difficult to finance tiny homes but there definitely are options out there. If you choose to build your own tiny home or pay for it out of pocket, you'll just have to worry about other costs like insurance and taxes.

3. You'll Own Less Furniture

If you have a 2,500 square foot house, you're going to need to fill it up with furnishings. This can be an expensive endeavor even if you are being thrifty about it. When it's all said and done, you'll end up spending thousands of dollars to furnish your home.

In a tiny home, you simply can't have very much furniture. In fact, you'll likely have lots of "built-ins" rather than freestanding furniture. This means that your furnishing and decor budget is seriously reduced when compared to a typical American home.

(Don't forget to check out these feng shui tips for tiny homes.)

4. Lower Cleaning Costs

Owning a 2,000 square foot house can mean a lot of dusting, vacuuming, and sweeping. The bigger your house, the more space there is to clean. Many Americans deal with this by hiring a cleaner to do some deep cleaning once a month or more.

If you live in a tiny house, the amount of space you have to clean plummets. You'll find that it takes practically no time at all to keep your house in spic and span shape. That being said, because the space is smaller it can take more diligence to keep it uncluttered.

Not only does this save you money on hiring cleaning services and buying cleaning products, but it also means you have more time. More time means more time to do the things you want to do, which can make you more productive and balanced in your work and life. Ultimately, you might find that you earn more money and have more time to enjoy the things you love once you don't have to spend so many hours a week cleaning your house!

5. You'll Think Twice Before Making Impulse Purchases

Living in little houses makes a person think twice before they buy something thoughtlessly. Every time you go to purchase something, you'll think to yourself, "where will it go?" and "do I really need this?" This means that more of your money can stay in your pocket rather than buying things you don't need and don't even really want or use long term.

6. Your House Will Need Less Maintenance

Maintaining a house can be a big expense. If you've ever looked at sample homeowner maintenance schedules, you've likely wondered if owning a home is a full-time job. When you live in a tiny house, though, there is simply less house to maintain.

The systems in your tiny house will likely be simpler and less straightforward. At the end of the day, there is just only so much that can go wrong in such a small house. When you do perform maintenance or need to do repairs, you'll find that it's much less costly and time-consuming.

7. You Might Not Need to Buy Land

While some people might choose to buy a piece of property for their tiny house, others might choose to stay more mobile. It's also common for tiny house owners to build their home on the property of a friend or family member. While you might pay rent for the use of the land, it will likely be significantly less than it how much it would cost to rent an apartment.

Some people choose to build their tiny homes on a trailer. This means that you can move around the location of your home.

Another method for saving money in a tiny house is building a tiny home on the property of the home you already own. You could then rent out your larger house to help you pay off the mortgage or put extra money in your pocket.

Some people also choose to build tiny homes on their property and then rent them out on Airbnb or other vacation rental sites.

8. You Might Be Able to Afford Living in a HCOL Area

If you've been keeping up with the real estate market recently, you know that housing prices are through the roof. This is particularly true in a lot of high cost of living areas where demand is high. If you're boxed out of the market when it comes to a standard home, you might find that you can position yourself in a tiny house for an affordable price.

While high cost of living areas cost more money to live in, they also typically come hand in hand with higher paying jobs. If you can manage to find a reliable place where you can build a tiny home in the city, you might be able to hack the system. With a lower cost of living in a place with higher wages, you might just be able to save more money than you could otherwise.

9. Simple Living Can Make You More Productive

Have you ever felt like all your stuff weighs you down? Every little trinket on your shelf ends up needing to get dusted, and the more stuff you have the harder it is to find what you need. There is a sense of peace and tranquility that comes along with simple living and minimalism.

What this means is that you can end up having more time to do the things you want. With less time maintaining your house, cleaning, and dealing with your mountains of possessions, you can engage in activities that are truly meaningful to you. This can help you feel more fulfilled and more balanced.

How does this help you save money, you're asking? Well, when your mental health is in better shape you end up being more productive. That means that whether you work a regular desk job or you're trying to start a business of your own (like a mushroom farm on your own land!), living a simple life might help you be more productive and earn more money.

10. A Minimalist Lifestyle Can Cost Less

When you think about it, it makes a lot of sense that there has been a movement towards minimalism in the US. Things have definitely gotten out of hand when it comes to how much stuff each consumer owns. Not only do each of these items cost money, but it also costs something to have them and keep them.

If you have more stuff, you need a bigger house to store it in. If your house isn't big enough, you'll have to rent a storage unit. When you end up moving, it's going to cost a lot more to move a huge house full of stuff than it is to move the belongings of a minimalist.

Methods for Saving Money in a Tiny House: Is a Tiny House Right for You?

If you are looking to save money by living in a tiny house, you will want to be deliberate and organized going into the process. There are definitely ways that you can spend a bunch of money getting set up in little houses. That being said, these methods for saving money in a tiny house can help you design an affordable lifestyle.

Are you captivated by the possibility of downsizing your life to fit into a tiny house? Are you halfway through building your tiny house and looking for resources? Either way, be sure to check out the rest of our blog!

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