Tiny House Living: How Much Money Can You Really Save?

Small wooden house model in hand

Small wooden house model in hand Tiny house | Source: iStock

There are, of course, some caveats. That $23,000 doesn’t include land, so unless you know a generous landowner who will allow you to squat on their property, you’ll likely need to pay additional money to buy a plot of land or lease some. That will be much less than buying land with a home on it already, but there will still be some charges involved.

With tiny houses, the budget is up to you as much as it is when you’re hunting for a traditional home. However, saving money on a tiny house often means doing a bulk of the work yourself. Some have built a full tiny house (that actually looks nice!) for $8,000. If you’re not handy with a drill and purchase a tiny home that’s move-in ready, you’re likely looking at a price that’s more in the $60,000 range or more.

Still, many people are able to make smart financial decisions and avoid a mortgage altogether. About 68% of tiny house owners don’t have a mortgage at all, compared to just 29.3% of people in traditional homes who don’t pay a monthly fee for their homes.

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