Tiny homes are still a difficult concept for many to wrap their heads around. For many, considering a smaller hub to call home has become a popular way to keep more money in their wallet.
But how do you know if you’re ready to downsize your life and move into a tiny home? Can you really live without single-use kitchen appliances or extra counter space? Do you live with someone who can adapt to this lifestyle with you?
Here are 10 signs that indicate you may be ready to move into a tiny home.
If you’re over 50, take advantage of massive discounts and financial resources
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It’s hard to maintain your home
Any home space can be difficult to maintain, especially as you age. Sweeping, mopping, and vacuuming floors and cleaning counters and windows can become physically exhausting much sooner than they used to, and keeping up with roof and HVAC maintenance can get expensive.
If these things are causing more stress than they used to — physically or financially — it may be a good time to consider going small.
Your monthly housing expenses have gone up
As is the case everywhere right now, your housing expenses may have gone up over the last few years. Rent, insurance, mortgage payments, utilities, and more have all increased, as have major appliances and home services.
For many, including those on a fixed income, downsizing to a tiny home means those expenses get significantly decreased.
You have different needs
Sometimes, homes are good for a season of life. If you have adult children who have moved out, your home may not serve you as well anymore.
This is especially true with aging adults who may benefit from different mobility options like fewer stairs, ramps, or other amenities that will better serve them.
Resolve $10,000 or more of your debt
Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.
National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1 <p>Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 25% including our fees, over 12 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.</p>
How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.
You’re ready to travel
There are seasons of life when travel becomes more convenient. If you’re craving more experiences abroad or visiting family around the country, then it might be time to condense your items and go all-in on a smaller space.
A smaller home means less expenses and more budget for luxuries like travel.
Your life feels cluttered
Simplifying your space can make it easier to streamline your belongings.
Clearing out items you no longer need can feel empowering, and maintaining a lighter, clutter-free environment can have a positive impact on your mental health.
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The environment is a priority for you
While environmental activism comes in many shapes and sizes, you reduce your footprint and increase sustainability options by moving into a smaller space.
The materials for a new tiny house build are a fraction of what you need for a standard home. There are fewer lightbulbs, electrical attachments, and carbon dioxide.
You feel lonely
Living in a large home — or any space as a single person or small family — can make you feel lonely. Having a formal dining room you never use or hosting infrequently can make a big space feel even bigger.
In contrast, a small space will make your home feel full and cozy.
You crave community
Not finding the right type of community where you currently are? Building or purchasing a tiny home in an organized community — or co-op — can really expand your opportunities to make friends and support others.
Community gardens, classes, and shared storage options can be found in tiny home clusters, whereas you need to find your own resources if you find a plot alone.
You want your home equity for something else
You’ve put a lot of time, money, and effort into your home. But if you’re in a rut financially, selling your home for a smaller one with fewer expenses may make the most financial sense.
Many people don’t save enough for retirement, and benefits are a lot less reliable nowadays so it may be nice to have a financial buffer from the sale of your home.
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You don’t require much storage space
If you’ve already been shedding unneeded items and donating tons of things, transitioning to a tiny home may be easier for you than those with tons of stuff packed into their homes.
While many tiny home communities have shared storage available for their residents, storage is usually very limited.
Bottom line
Planning for retirement or another phase in your life can be wild and scary. Downsizing your home may be a great way to save more money, but it isn’t easy, and going tiny is a big decision.
Make sure you’re thoughtful about why you think you’re ready and all the details involved before taking the plunge.
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