Tiny house on land

Discussion in 'Buying & Selling Real Estate' started by Rosyrain, Jan 28, 2015.

  1. Rosyrain

    Rosyrain Senior Investor

    Joined:
    Apr 2014
    Posts:
    673
    Likes Received:
    2
    I was watching a show the other night that featured people who live in those tiny houses that became popular in the 1990s. I would never live in one full time, but thought it might be a good investment for a vacation retreat if I were to buy a plot of land in a remote location somewhere. Does this sound like a good investment choice, or should I put it to rest and save my money?
     
  2. troutski

    troutski Guest

    Joined:
    Jul 2014
    Posts:
    256
    Likes Received:
    1
    They've become quite popular in recent years, too, as people try to downsize. I wouldn't recommend one as an investment, though. You're probably better keeping the money and finding another investment for it, or even just saving it. The micro-houses are great for people who like being frugal or environmentally friendly, but I wouldn't consider them a great investment.
     
  3. Rainman

    Rainman Senior Investor

    Joined:
    Jun 2014
    Posts:
    1,587
    Likes Received:
    4
    It would be very, very hard to find renters even during the tourist season because most people when traveling abroad never intend to stay in one place for long. Nonetheless I think it should be the sort of home those in retirement should consider living in. And if you are able to locate a place where you can find lots of retirees who might be interested in such an abode . . .
     
  4. shilpa123

    shilpa123 Banned

    Joined:
    Aug 2014
    Posts:
    373
    Likes Received:
    0
    I would usually prefer to have a full time big house rather than a tiny one. Also if I an staying on rent I would prefer to never stick to one place. It would be a total waste of time a money
     
  5. Rosyrain

    Rosyrain Senior Investor

    Joined:
    Apr 2014
    Posts:
    673
    Likes Received:
    2
    Good point, I would hardly use the house anyway except for as a retreat. I think the concept is a great one and I would love to live in one of those houses, but it would be too small for me to live in full time. I know this does not sound environmentally friendly, but I do like space.
     
  6. Flexin

    Flexin Member

    Joined:
    Jan 2015
    Posts:
    24
    Likes Received:
    0
    There are many people that have vacation rentals. There are even tiny house vacation rentals as well. If you have a spot that people want to visit then you might have potential. There is even a site to list Tiny House Vacation Rentals. So people do it. You would have to research to see if it is a good business.

    Land isn't a bad investment in the right location, for the right price. Myself I would rather cabins.

    Down the road from me there is a spot with about 6 small houses that are about the size of a small apartment. They are rental houses. Not vacation. I can't remember how much then rent for but it isn't bad. My guess he is making more then he would with one house on that same piece of land.

    With a rental it would take some time to build up a customer base. Every happy renter is a possible walking business card for you. And if the location is good then they might become a repeat renter. My mother rented the same cottage on the lake about 3 times. So you would need to be able to cover the cost of your land, taxes and the cost to build the house. At least till the rentals started covering your costs. It seems like most are between $50-200 a night. But I have found some as high as $495. Some are very basic and are on organic farms, others have granite counter tops fridge, internet and so on.

    You would have to do a lot of research and run the numbers to see if it was a good investment for you. If there is room you could have more then one house on the land to make more money.

    One last thought. If it was a large piece of land that you planned to live on it would lower your costs. With a large enough piece of land you could have one or more tiny houses on different parts of the land. With enough land you would still have your privacy and it would be close by to take care of any issues.

    James
     
  7. ally79

    ally79 Guest

    Joined:
    May 2014
    Posts:
    154
    Likes Received:
    0
    My husband and I have a dream of having our very own tiny house one day. Our first house was a studio apartment so we already have experience living that way. If you are really interested in the tiny house movement check our Kirsten Dirkson on YouTube. She has some great videos about them and the people who live in them.
     

Share This Page