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While tiny homes are all the rage right now (and for good reason in this expensive market) they’re not for everyone. The idea of being mobile and living with less can be very appealing, but the tradeoff is living in a small, tight space. The average home these days is over 2,600 square feet, while tiny homes are approximately 100 – 400 square feet.

Here’s what you should consider before purchasing one yourself:

Pros

  • Financially wise. You can get a tiny home for around $30,000—the price of a down payment on most homes. It allows you to be a homeowner without a mortgage—the ultimate dream.
  • Mobility. A tiny home can move with you anywhere you want to go, so if you don’t like the neighbourhood you’re in, it’s easy to get up and move your home somewhere new. For the travel-minded, it’s a dream.
  • It has many uses. If you still want to hold onto your traditional-sized home, you can use it as a mobile home for vacations, or a smaller place for visitors to use when they come over, or as your home office.
  • Great for minimalists. If you’re hoping to learn to live with less, a tiny home will force you to get rid of all that non-essential stuff you’ve been holding onto.
  • Saves you money. The money you save on a mortgage gives you money to spend on using the best, top-of-the-line luxury materials to build and customize your home in a way you couldn’t afford in a traditional home.
  • Easy to clean, because there’s much less surface area to maintain.

Cons

  • Hard on relationships. The lack of space is tough for a couple to endure, never mind a family. You will always be together in the same tiny area with little to no privacy.
  • You’ll have to give up on things like a home office, exercise space and laundry room. Laundry is usually in the bathroom, and everything you might be used to living with has to be condensed or removed in order to make this home work.
  • More cleaning. While cleaning will take less time, you’ll have to do it more often as even the smallest amount of clutter will get in the way and disrupt your life. Constant organization is key to making it work.
  • Minimal food storage means you can’t batch cook to save energy and time. You’ll have to cook fresh each day to make the space work.

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