The Tiny House Is Big Business
Let’s face it, the tiny house movement can no longer be ignored. These dramatically downsized dwellings are appealing to more and more Americans who are attracted to their lower entry prices, or who want to downsize after their kids have left home.
For example, Tiny on the FYI Network, Tiny House Hunters on HGTV, and the ever-so-popular show, Tiny on the DIY network, are just three of the home-improvement networks that have generated big ratings by jumping on the tiny homes bandwagon.
But it was the 2009 housing crisis and rise in mortgage foreclosures that helped turn what was more of a tiny house “hobby” into a “movement”, according to curbed.com
A recent change in International Residential Code Standards has given the trend even more legitimacy. Starting in 2018, tiny house owners will begin receiving a Certificate of Occupancy to certify that their structure meets International Residential Code standards.
What Makes a Tiny House a “Tiny House”?
Tiny homes range from 250 to 1000 square feet, with the average dwelling hovering around 400 square feet, about the size of a studio apartment.
Prices for these structures vary considerably, but generally sell for under $100,000.
They are typically sold as-is, usually without land and often without labor. So, the initial price a buyer is quoted may balloon once electrical wiring, heating, plumbing and sewer connection are included.
Tiny homes may be mobile, which makes them ideal for careers that require frequent moves or for owners in search of travel and adventure. Although, because of their weight, most tiny home moves require a heavy-duty vehicle.
A Better Path to Homeownership
There’s no doubt the need for affordable housing is real and urgent. 78 percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to a recent report from CareerBuilder.
On top of that, home prices increased 5.8% nationally in 2016, compared with 4% in 2015, according to Clear Capital, a provider of real estate data and analysis. One expert attributed the rise in home prices to 1) High demand due to Millennials aging into home ownership, 2) A booming labor market and growing wages and 3) Lower housing inventory.
While tiny homes are trendy and may be a good option for some first-time and low-income homebuyers, there must be a better way to accommodate households that are growing or that need more privacy.
Now, there is. High-quality, 2-3 bedroom, 2-bath manufactured homes with backyards from UMH Properties allow homebuyers to pursue the American dream of ownership starting at $59,900*. UMH home prices are inclusive and don’t require a land—or special vehicle—purchase. Located in safe, conveniently located communities throughout the Midwest and Northeast, these homes may be customized with features such as kitchen islands and breakfast bars, covered front porches, master suites with luxurious spa bathtubs, built-in entertainment centers and more!
Start creating the custom home design of your dreams at UMHsalescenter.com.
*In select locations