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Tiny Living Costs to Consider Before Purchasing Your Home

By February 18, 2022No Comments
Man with beard sitting at home with a pen and notebook considering tiny living costs

The tiny house movement is seen by many as a way to own an affordable, eco-friendly home, but how budget-friendly is it really? While it will come as no surprise that the most enticing factor of tiny living is the economical aspect, is this borne out by the overall cost of tiny living? We go over all the costs associated with purchasing and living in a tiny house so you can get a clear picture of the journey ahead. Read on to find out more about buying a tiny house in NZ.

The Costs Involved in Buying a Tiny House

Tiny houses have made an almost meteoric rise in popularity over the last decade, thanks not only to lower prices but to a more sustainable mindset. However, despite the lower price of these homes overall, tiny living costs can vary greatly depending on the size, quality, and details of the house you choose. One thing for sure is that these houses make it possible to achieve the dream of homeownership at a much lower financial cost than buying a traditional home. However, there are several factors to consider when calculating your potential costs. Beyond the decision to buy or build your tiny home, other factors that will affect your overall cost include the following: The size of the house The type of building materials used Council permit costs in your area Access to utilities The type of amenities you choose to include Adding the price of land to a tiny home’s cost shouldn’t be unexpected, but this may turn out to be one of the biggest outlays you make, while also considering local zoning laws, access to utilities, etc.

Other Costs to Consider

If you love the idea of a tiny house, here’s what you need to know about the sometimes-hidden living costs. These hidden costs of living in a tiny house may seem small on their own but added together over a year, and the amount may not seem so inconsequential. Water & Electricity. Your tiny home will require access to water and electricity. Depending on the location, you may be able to easily hook up to local utilities. However, if your house is located off-grid, you may need to consider installing a septic system and/or renewable energy sources like solar panels. Furniture. Take into consideration the furniture and appliances you have in your full-sized home. Will they fit into your new tiny home? If not, you will need to include the cost of buying new furniture within your project budget.

The Bottom Line

Tiny homes aren’t for everyone, but if you feel you are ready to take the leap into a simpler lifestyle, be sure to consider all the financial responsibilities involved, to set yourself and your new home up for success. Over the last decade, living smaller has become an increasingly popular option for Kiwis across New Zealand, but why are people opting for this lifestyle? For some, it reflects a trend towards wanting to live minimally, reducing waste, and enjoying a clutter-free life. For others, it’s an answer to the housing crisis affecting cities and towns across the country. Realistically, it could be their only chance to step onto the property ladder. Tiny homes are changing what it means for people to own a home.

Get in touch with Tiny Home HQ today to discuss the possibilities

Tiny Home HQ have a range of beautifully designed, self-contained cabins on finance. We want our customers to be able to enjoy a tiny home without the financial stress, so you can purchase your unit without the big upfront cost. Cabins on finance come with extended terms, no deposit options, no additional security requirements, and interest rates from 9.95%. Get in touch today to learn about our finance options.