When imagining the American Dream, a white-picket fence, large house, and nice cars come to mind. That dream has taken a new direction. A fresh phenomenon is sweeping the country: going tiny. Tiny houses have become ever-increasingly popular. This new take on the American Dream enables a debt-free, nomadic and environmentally conscious lifestyle. Whether it be on a trailer, foundation, floating, or up in a tree, tiny houses are redefining the ‘American Dream.’
Now to put ‘tiny living’ into perspective. On average, the American home is 2,600 square feet, whereas the average tiny house ranges between 100 and 400 square feet. Being a fraction of the average American home, tiny houses seem to be a radical change, but there are many upsides. Americans spend an alarming portion of their paychecks on housing alone–an unnecessarily large portion. The rule of thumb is to spend no more than 25% of your income on housing, but many Americans spend double that. According to CBS News, an increasing amount of working-class families have to spend over 50% of their paycheck on rent. Even more alarming, according to CNN, 76% of Americans are living paycheck to paycheck. Americans need to make a change somewhere in their lifestyles. So, what’s the alternative?
Tiny houses. According to The Tiny Life, to build a tiny house by yourself would cost approximately $23,000. Of course the total cost depends on: size, builders, features, and the finishes of the tiny house (like all other houses). A tiny house can fit anyone’s lifestyle and budget, the average cost ranges from $20,000 to $40,000 (Forbes). Compare those figures to the figures below in the average cost of an American house, see which one you would prefer.
Although owning a house may seem to be far off in the future, after college, housing will be your responsibility. With the burden of student loan debt, the last thing that you will want on your plate is a mortgage or rent payment. Stay tuned for more tiny house articles! Check out the link below for images of tiny houses!