By Justin Draplin, CEO & Founder — ECLIPSE Cottages
As people grow older, they often find that their homes have more space than they need or can safely use. As the kids move out of the house and start their own lives, many family homes are left with empty rooms that remain unoccupied, save perhaps for a few times throughout the year when the kids or grandkids come to visit. For older individuals looking to downsize their homes, tiny homes are an affordable, modern, and comfortable way to live.
Why have tiny homes become popular?
Tiny homes are self-contained dwellings and typically under 400 square feet in size. The tiny home movement has gained popularity among consumers looking to live simpler, more sustainable lifestyles, but tiny homes also offer an exciting alternative housing option for the elderly. Thanks to their condensed nature, it presents them with much less space to clean without the need to sacrifice comfort or modern amenities.
Many have been drawn to tiny homes thanks to their eco-friendly and sustainability-focused nature. Because they are inherently smaller than a traditional home, they tend to consume less power and water. As such, tiny home owners have seen their utility bills decrease substantially — if not nearly eliminated — thanks to their tiny home’s integrated solar power and advanced water filtration capabilities.
The affordability of tiny homes
Tiny homes are much more affordable than traditional ones, with prices often starting at as low as $25,000 for base models. This represents significant savings compared to the median home price of $354,649 in the United States. Considering the rising cost of rent across the country, with a historic increase of 11.2% in 2021, making affordable payments on a tiny home that one owns poses a wiser and more sustainable financial decision.
With financing that can require no down payment for qualified applicants and payments as low as $99 a month, purchasing a tiny home can be even more affordable than renting a cheap apartment. Especially when considering the reduced expenses for utilities and maintenance, living in a tiny home can be far more budget-friendly, making it a perfect fit for older people living on a fixed income from their retirement.
Why tiny homes are ideal for retirees
One of the main benefits of the tiny home lifestyle is that one can live anywhere in a tiny home. Many people with large properties will put tiny homes in an area of their property as an accessory dwelling unit (ADU). The applications of tiny homes as an ADU are vast, from use as a rental unit through platforms such as Airbnb to use for a family member akin to a “mother-in-law suite.” For older individuals, a tiny home can allow them to live close to family for safety- and/or health-related reasons without entirely sacrificing their individuality.
Other tiny home owners opt to live in one of the many bustling “tiny home communities,” allowing homeowners to live amongst a group of like-minded individuals united under their passion for sustainable, mindful living. These communities also tend to offer a great support system, where neighbors will help one another when in need, thanks to their more intimate nature and commonly-shared values.
However, just because tiny homes are small does not mean they cannot be sleek and modern. Many tiny homes come equipped with the most up-to-date technology on the market, including upscale, modern appliances, smart switches, and high-tech solar power equipment. With specific upgrades such as battery backups, homeowners can even live completely and comfortably off-grid if they choose.
Tiny homes contain everything an older individual needs to live their retirement lifestyle comfortably. Offering immense flexibility and budget-friendly features like solar power capabilities and advanced water filtration while still boasting the latest technology and amenities, it’s clear that tiny homes are a perfect fit for people of all ages.
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