Tiny House Movement

Re: Tiny House Movement

• hoffse member

  

  January 2015 edited January 2015

  strickland8052 said: I have a new interest in tiny houses. I don't think I want to live in one (we already own a really small house that suits us perfectly), but I think it would be a cool experience to build one and rent it out.  We have a huge lot in a major city, so we definitely have the land for it, and I think it would be pretty easy to find a tenant for it. If we delayed TTC, we could save enough to build one within one year. The revenue generated from the rent would pay for the house after 3 plus years then we could just collect that extra income. H is a tad bit of a survivalist, so I think he would really go for it if we do it in a way that functions off the grid. hehe. What do you guys think?
  
  
  What kind of rent would you be looking to get?  With a tiny house, I think you'd have to assume that you're probably limiting your rental potential to single folks.  You might get a couple or even a family interested in small spaces, but most people move up and not down when it comes to space, at least until kinds finally move out.

  
  

  I also suspect that most Americans aren't content to live with less.  That's a shame, but American consumerism isn't going away any time soon. 

  
  

  If you want to do it, I would spend some serious time thinking about design and creative ways to maximize the small space your tenants will have.  Things like built-ins, appropriately arranged closet fittings, etc. can really expand usable space, even if your square footage is small.  I would inclined to add some shallow storage under the floors, as well as a small attic space for seasonal things.  Houses certainly don't have to be big if they are well-designed... it's just that most aren't well-designed.

  

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• Erikan73 member

  

  January 2015

  I think it's still a specialized market. Look at the market in your area when it comes to rentals. Watch the market for a while and notice how fast larger rentals go for and how fast the smaller rentals go for. Figure out how much you can reasonably get for tiny home on rent. If you live in area where it's primarly families looking for housing, a tiny house may not fit the bill. But if you live in an area where you have college students or singles, it could be a big hit (depending on how much you plan to charge).

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• Xstatic3333 member

  

  January 2015

  I'm not sure it would be the best from a purely investment standpoint, but could be fun. One issue I've read about with tiny houses is the expense and permitting required to get them on water and sewer. Sometimes it's required by the town, even if the owner wants to keep it off the grid. Especially if you're renting, it could be a big legal headache. I'd also think about the demographics in your area. We live in a pretty "hipster" city (for lack of a better term) with lots of people trying to reduce their imprint, so it would be a hit here, but maybe not everywhere.
  
  They are pretty cool! I love the architectural things people do with them. I know you posted before about wanting to travel, though, and if it's a choice that would be my personal preference. But hey, you gotta do what works for you guys

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• strickland8052 member

  

  January 2015

  I think we could easily charge about $500 in rent.  We live in a big city with 4 large universities (plus many more small schools). Rent for a dumpy 700 sq ft. 1 br is about $1,000 minimum. We live in a really nice neighborhood, and people are constantly looking to rent 1 brs around here. There aren't many apartment complexes nearby, so in-law suites and rented spare bedrooms go quick. The neighborhood is also really quirky, so it is just feels like the type of place where a tiny home dweller would like to live.

  But you guys are right, I should definitely do more research. I'll try to see if I can find any listings in our city.

  
  

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• Sisugal member

  

  January 2015

  Check local building codes, restrictions on size for  your location and landlord/tenant laws for your. state. 
  
  Communities vary from forbidding them --to building them for the homeless.
  

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• JoanE2012 member

  

  January 2015

  I'm always very intrigued by them and love watching the shows on HGTV.  That said, I could never live in something that small.   I'm very claustraphobic (those loft sleeping areas give me anxiety!).  I also love to entertain, cook/bake, etc, and things like that are pretty much impossible.

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• Kahlyla member

  

  January 2015 edited January 2015

  I like tiny homes too! You may want to consider looking at Airbnb and renting it out as more of a vacation space (you have to fully equip it, but that wouldn't take much). We rent out a full 1-bedroom plus den apartment this way as well as a bunkie that we converted from an old garage. Because guests are comparing the space and its pricing to a hotel room, you can charge much more per night than you would if you were renting it out in the traditional way. Although it sounds like your area might be very tiny home-friendly, so that's certainly something to think about (I live almost in the country where not a lot of people are looking to rent).
  
  Just by way of example, our bunkie rents for 40 dollars a night - nobody would ever choose to live there full-time, much less pay $1200 a month for it, you know what I mean? But for a vacation spot, it's a cheap and charming space, and even with a mix of vacancy and occupancy, it's definitely proven worthwhile for us. Similarly, the apartment would certainly not fetch $2400 a month, but $80 a night for a full apartment (way beyond a hotel room) is a bargain. We could try to find a full-time tenant and maybe earn $600 a month or we can earn the same amount in a week and continue to access the space to check on it and improve upon it and whatnot any time it's vacant.
  
  Either way might work for you, I just wanted to mention this option as we're considering doing even more of it ourselves - building Hobbit-type houses on our land and Airbnb-ing them. Good luck!
  

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• MommyLiberty5013 member

  

  January 2015

  Love them! One thing I have read about them though, is that many cities do not permit them in city limits as they are considered "too small." Some kind of odd rule, IMHO, but it is what it is.

  
  

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• strickland8052 member

  

  January 2015

  Good idea about using Airbnb, kahlyla!

  I think we could probably get it approved. I'm friends with our zoning chair, and he loves unique houses. He puts a lot of time into working with people to find loopholes in the zoning, so builders can add unique buildings that technically fit code on paper... but probably wouldn't fit otherwise. Of course there is also the option to put it on wheels. Our neighbors are all pretty quirky, (one guy remodeled an old corner grocery store, which he lives in and hosts concerts there), so I think they would be accepting of it.

  But now H is not as on board, as I thought he would be. Probably a good thing, I frequently get carried away with far out there ideas. haha

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• cbee817 member

  

  January 2015

  Purely from the TV show, it seems most people do it for the portability of a house.. not really to stay put in one spot. Just something to think about. 

  
  

  One thing that drives me nuts is that they have the smallest sinks in those houses- and I don't understand why.. just put one of those tops over it for more counter space (like they do in RVs).. I would go nuts with such a tiny sink! 

  

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