Living Small Means Living Debt Free

Affordable Housing

Small Houses Are Affordable

Affordable Housing It’s a phrase we hear more and more lately – affordable housing. It is also something that is becoming harder and harder to find. With so many people that lost their homes in the recent economic crisis, many have started to realize that instead of having a large house as their main goal in life, a better goal is to be living debt free.

Tiny House Movement

The tiny house movement has gained more traction because of the recent issues in the housing market trends. While the majority of people who purchase a tiny home are able to pay cash out of pocket, that seems unbelievable to others who have been paying on their home for years and do not yet see the light at the end of the mortgage tunnel.

In the past few years many people were forced to leave the home they loved due to foreclosure. Many of those people have been drawn to a tiny home as an option for affordable housing.

Modular Construction

Many people who choose to build a smaller home do so by using modular construction. You can buy a home kit that includes all the sections you need to build the house. These kits include step by step instructions that just about anyone can follow. This can save money overall because there is less waste of materials on site because everything is already pre-cut to fit your design.

Save Money by Going “Green”

You can spend much less on your house, and help the environment at the same time, when you choose to use recycled materials to build. For example, you can salvage the doors and windows from the scrap yard, or reuse old kitchen cabinets someone was going to throw out. Anything you don’t have to buy new, or pay for at all, will help keep the costs down.

Many people who look toward building a small home will also enjoy the challenge of trying to reuse as many materials as possible. It can be fun for some to go through recycled material to find pieces needed to finish your new home.

Cost of Maintenance

Utility CostsWhen you think of affordable housing you also have to consider how much it will cost to maintain it. Because of the size and simple design of these homes, general upkeep will be much less than one of a larger scale. There is less carpet to be replaced when worn out. There is only one bathroom to keep clean instead of two, three or more. The smaller wall space will take less paint when a new coat is needed.

Utility costs will also be much less in a tiny home. A smaller space will simply cost you less to heat and to cool. Because size is limited, most people choose to install a tankless hot water heater that is much more efficient that a water heater with a tank that continues to heat water between uses.

Location Location Location

When thinking about building a small house you also need to consider where you will put your newly built home. Maybe you are a recent college graduate who wants a place of their own, with parents nice enough to let you park your home in their backyard. Or your grown children are okay with grandma and grandpa living on the edge of their property. Or maybe you have to rent a space to live on. Even if rent is being paid, it will be minimal in comparison to what you would pay for a larger home.

It wasn’t long ago that everyone who was anyone dreamed of having a large house, regardless of the cost. The new affordable housing trend in the housing marketplace is looking better and better.

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