Quickscrews
Quickscrews Cabinet Install Screws
Built for strength and precision, Quickscrews Cabinet Install Screws are the go-to choice for professional cabinet installers. Designed specifically for cabi...
$169
View ProductRise | We've Done the Research
Tiny Home for Financial Reasons
The majority of individuals in my study identified finances as a significant factor in their decision to downsize. Home prices have increased significantly in the past few decades. As of September 2019, the average home price was $231,000. In response to rising housing costs, many have downsized to smaller homes-- including tiny houses.
The price of a tiny home can vary greatly depending on the quality of the materials and amenities that the home provides. Some builders, such as Heartland Tiny Homes in Tennessee, sell their homes starting at $22,000. On the other end of the spectrum, some tiny homes like those built by Allswell are sold for over $100,000. These prices, of course, compensate builders for their time and ability to customize a home.
To make a tiny home living even more affordable, one can choose to build it themselves. Do-it-yourself (DIY) tiny home builds are commonplace in the movement. The cost to build a home yourself can also vary greatly, though it tends to fall in the $20,000-$30,000 range. Some can be made for substantially less, however, like Jay Schafer’s $5,000 home.
In addition to lower housing prices, tiny homes can lower your utility bills, as well. While there has not been a comprehensive study to determine average utility costs, those who shared this information in my research paid an average of $20 a month for their water, electric, and sewer services. Over time, these monthly savings add up and can become quite substantial.
With increased costs of things like college tuition, many people have also opted for tiny house living to save aggressively for the future. In short, the financial benefits of downsizing are great and multi-faceted.
Recommended by Rise
Building Materials
Shop high-performance building materials that are vetted for benefits to your health, your pocketbook, and the planet.
Rise Writer
Expert. Practical. Sustainable.
Article by
Maria Saxton
Located in Roanoke, Virginia, Maria Saxton holds a Ph.D. in Environmental Design and Planning from Virginia Tech. She works as an Environmental Planner and Housing Researcher for a local firm specializing in Community Planning, Architecture, Landscape Architecture, and Historic Preservation. Her dissertation explored the environmental impacts of small-scale homes. She serves as a volunteer board member for the Tiny Home Industry Association.
Expertly Curated
We find and feature the best products for a healthier, more sustainable home.
Trusted by Thousands
Helping 10,000+ families build better homes.
A More Sustainable Tomorrow
People. Planet. Better living.
