I built a $35K tiny house in my backyard and live in it. I now rent out my main home and use the money to pay off my mortgage.
This as-told-to essay is based on a conversation with Precious Price, an owner of a backyard tiny home in Atlanta, Georgia. It has been edited for length and clarity.
Since it's just me, it would be possible to downsize into my tiny house and rent out my main home to someone who really needs the space. I could then use the money to pay off my 30-year mortgage. In May of 2020, I began to create the floor plan and design it. But before I could really get started, I had to get permits. This was a huge hurdle for me personally, especially since it was during the pandemic.
After finally getting approval, it was time to hire contractors. This was hard, too, especially as a young woman who had no experience with this type of work before. Things were taking way longer than I had initially planned. By the time my tiny home was done in March of 2021 I had spent: $6,675 on additional materials such as the furnishings, drywall, cabinets, paint supplies, shelves, grout, flooring, and insulation.I now live in my tiny home and rent out my main house to students.
After going through the process of building my tiny home there are a few things I have learned if you would like to try it for yourself.Even if it's a tiny structure, don't assume it will be cheap. It might be small in size, but you still have to pay for plumbing and electricity, too. So whether the home is 2,000 square-feet or 200 square-feet, you still have to factor those things in. A tiny house doesn't make it a tiny project.
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