10/07 Live tiny, save big

Tiny House UK

Tiny House UK

By the time Michelle Jackson hit 34, she was ready to buy her first home but didn’t want to spend a fortune. So she purchased a garden-level 495-square-foot (46-square-metre) one-bedroom apartment in Colorado in the United States. Her friends gave her a hard time over her choice.

“I was teased a lot because I bought so conservatively,” said Jackson, now 42. “Some of my friends didn’t understand why I wanted such a small place. There was some peer pressure that I didn’t expect.”

But, a smaller home — and the smaller bills that come with it — gave Jackson a lot of freedom. “Because my home is so inexpensive, I felt comfortable leaving my job of 10 years and now am working for myself,” Jackson said. “I feel thankful every day when I think about the life that I have because of this choice.”…

There are certainly advantages: Lower expenses, less impact on the environment and not as much cleaning and maintenance. But there are things to consider before taking the tiny home plunge.

What it will take: For starters, you will need to research restrictions on tiny houses and seek out developments specifically made to have smaller-than-normal living spaces. Then, you must get rid of a lot of your personal belongings. The trade-off for a smaller mortgage is typically a lack of storage and — if you are not living by yourself — less privacy….

Do it now: Determine if it’s right for you. The tiny living lifestyle isn’t for everyone. “Before living small, you should understand what is important to you and your lifestyle,” said Mark Burton, who owns Tiny House UK, a company that designs and builds micro homes. If entertaining and spreading out is important, smaller living might not be for you….

Do it smarter: Be willing to stand out. “I don’t think it’s for people who are very concerned about conformity or don’t like to rock the boat,” Walker said. “It is a bit of a new thing, and regulations change, and you need to be willing to adapt and be something of a pioneer to be comfortable with it.”

Read more http://www.punchng.com/business/am-business/live-tiny-save-big/

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Elaine Walker