5 things you should know about the tiny house on wheels

People now live in bigger houses than those they used to live before. An average American person lives in a 2,600 square feet home. This is a huge space if you have a small family. Big houses take up a lot of space and cause land crisis. The population is increasing and people need places to live. A tiny house on wheels can be a great solution to make room for other people to live. Here are five things you should know about living in a tiny house on wheels.

Size

Houses that have an area of 400 square feet or less is considered to be a tiny house. These houses are sufficient for a single person or a couple. It takes up very less space.

Can be moved anywhere

There are wheels attached to the tiny house. So, you can move the house by towing it to a car and take it anywhere with you. This flexibility of movement has encouraged many people to live in these houses.

Suitable for students and retired people

The tiny house on wheels is ideal for the students and retired people. About ½ to 1/3 of people’s salary goes on to pay the rent of the house. A student or a retired person doesn’t have much income. So, staying in a tiny house on wheels can be a very practical solution for them.

Construction

These houses can be constructed by both professionals and the owners themselves. DIY project for building this house is quite simple and many people are doing it.

Utilizes technology

A tiny house on wheels has space-saving appliance and equipment. So, it will be easy for you to do things around the house. Advanced technology is a part of many such houses. So, you will have low utility bills every month.

Living in these houses is a smart decision. You will save money and will live in an environmentally friendly home. You will free up space for other people to build a home.

3 tips for building your own tiny house on wheels

 

There has been a tiny house movement recently and it has encouraged many people to move to a 100 to 400 square feet house. You can build your own tiny house on wheels easily. Here are some tips that can help you.

Set up a budget

You should first decide on the budget. You must follow the budget strictly in order to avoid overspending. There is no fixed budget for building this type of house. It can range from few hundred dollars to thousands of dollars. You should have a master plan before you start building the house. You should know how your home will look like, what materials will be used, You must keep 10% to 20% of the money as cushion money for any unpredictable events.

Find location

Though you might be moving around with your house in different places, it is wise to build the home near a hardware store. You might need to buy things often for repairing the home.

Get insurance policy

You must get an insurance for this type of house also. The type of insurance you need to take depends on whether you are going to stay at the same place or move around on wheels. If you keep your house in one place permanently then you should take up a home insurance policy. If you move once in a year, you will need to get a stationary trailer policy. If it moves on wheels quite frequently then you should buy the travel trailer policy.

You need to make a solid plan before you start building your tiny house on wheels. You should learn about the rules of regulations of the place where you want to build it. Different zoning areas have different requirements. There is a limitation on the size of the house. So, you need to make sure that you are able to build a house in such circumstance.

3 ways you can finance a tiny house on wheels

When you want to buy a house you usually apply for a mortgage. But in case of the house on wheels, it’s a different story. You won’t be able to get a mortgage like that in a traditional house. This is because the cost of a tiny house on wheels is low and the mortgage lenders need to stick to a minimum loan amount. However, there are other options for financing this type of house.

Your savings

As it won’t cost much to build a tiny house on wheels, it is a good idea to invest your own savings. This way you won’t have to worry about any interest.

Borrow money

You can ask your relatives and friends to lend you some money. There are people in the family who might have thousands of dollars in their bank. So, they might help you.

RV Loan

You can get an RV loan. It is not possible to get a normal bank loan because to get that loan your house must stand on a foundation and not on wheels. So, RV loan can be a good option for you. You need to have a good credit score and a steady income to secure this loan. These loans usually have high interest rates.

You can use any of these financing options for building a tiny house on wheels. Using your own money is the best option. If you are taking an RV loan you must be aware that the interest rate can be quite high. With some good planning, you will be able to build a tiny house on wheels within a very low budget.