Tiny homes are featured everywhere from magazines to television to movies. Those who love spending time outdoors love the idea of buying a home just big enough to accommodate the most basic everyday functions (e.g., cooking, bathing, etc.), but the reality of tiny homes is a little different.
It's one thing to live in a tiny home for a week or even a year. But after several years or a decade, the small space is often too much to bear for most people. The money and energy homeowners save simply isn't enough to sustain the feeling of being trapped by walls that are too close together. Many experts believe that tiny homes are little more than a fad, sure to go the same way of flagpole sitting and pogs.
They're Difficult to Market
There are a few reasons why these homes are difficult to market:
- No entertaining options: Most homeowners don't throw parties every week but that doesn't mean they don't want guests. Tiny homes strip that option away, leaving room for, at most, one or two people.
- No room for growth: Homeowners like to be able to grow into their homes, making changes along the way to accommodate new passions. But tiny homes limit the options residents have if they want to branch out.
- It's not as inexpensive as people think: Downsizing doesn't always mean that people pay less money for their home over time. It's not that much less expensive to build a tiny house up to code, meaning upkeep expenses will be about the same.
People Regret Them
When people regret the size of their houses, the vast majority regret buying a home that's too small. The truth is that Americans love their things, even if their imaginations are captured by the promise of the simple life. People with tiny homes don't always give up their things either, instead choosing to store it all away. If they have to rent a storage space for any length of time, this can easily cut into how much money they're saving on the mortgage.
The truth is that most people use tiny homes for vacation or secondary homes, even if a select few have managed to make it work for them. Similar to high-end travel trailers, tiny homes aren't a new concept. Experts have seen that the long-term demand for tiny homes just doesn't seem enough to warrant the investment.