Tiny Homes Create Marketing Opportunities
We are living in a rapidly changing world, as economic and environmental activities continuously force us to re-evaluate our way of living on this earth. Tiny homes are designed to promote the beauty of living simply and yet still with everything you need. The idea is to have the freedom to live a bigger life, instead of having a bigger house.
A tiny house is a small house that is typically sized below 600 square feet. Tiny houses that can fit on a trailer have maximum dimensions of 8 feet 6 inches wide, 13 feet 6 inches tall, and 40 feet long providing a total maximum of about 340 square feet. Often, these houses are built on trailers since they are too small to be allowed as permanent structures according to most local code enforcement agencies.
Tiny Homes are game-changers
With the birth of tiny homes, housing markets in the United States have also changed. With that change, comes the emergence of a whole new financial model- altering the way income is apportioned and household priorities arranged for those who move into this type of home.
While the shift to tiny houses is relatively seen, all indications point to the fact that the trend of building tiny homes is gaining momentum. Two groups of people, in particular, are being drawn to this new housing idea: the Millenials, who have very little funds and are burdened with college loans; and Baby Boomers, who are trying to stretch their pension by finding affordable homes.
How tiny homes create marketing opportunities
- Tiny homes open a new kind of market
The high cost of living in the United States starts with its crazy housing market. According to the Department of Housing and Urban Development, the median rent for a two-bedroom apartment in New York metro area costs $1,638. With the rise of tiny houses, a new kind of market is opening up for the construction and retrofitting of such homes. Many people still seek construction advice and purchase construction plans through some tiny house people prefer building their homes themselves. In fact, beyond the actual manufacturing of homes, which typically cost between $10,000 and $40,000 to build, there will be an expanding market for home decorations and furniture that meet the specific dimensions and unique requirements of a tiny home.
- Tiny homes create real estate opportunities
The interest in tiny homes has also opened up opportunities in real estate, for individuals looking to generate additional income for themselves. Instead of purchasing property, many tiny homeowners rent land, and some landowners have been able to make easy profits by renting out small portions of their property to a number of tiny homeowners. Another income-generating option is the construction and sale/rent of tiny houses. It only needs a little time to construct a tiny home, when compared to constructing an average-sized house. Also, those who rent land to tiny homeowners can be assured that the water and electricity usage by such homeowners are comparatively low since these homes are small and are usually energy-efficient.