Are tiny homes worth it? Here are the pros and cons.

Business Insider

For homebuyers priced out of the traditional market, tiny homes can be a lifeline. But they can also come with big problems like HOA rules and zoning laws.

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00:00Tiny living. It's minimal, it's trendy, and for many, it's affordable. For homebuyers priced out

00:05of a traditional market, tiny homes can be a lifeline. Cheaper builds, lower utility bills,

00:09and for some, a shot at home ownership now instead of years later. But while tiny homes

00:13are big on charm, they can also come with big problems. If you're renting the land your home

00:17is on, expanding could be impossible, and sometimes moving can be extremely difficult.

00:21And depending on HOA rules and zoning laws, tiny homes may be welcome in one county but banned in

00:26the next. And if you're not living by yourself, a tiny space can start to feel a bit too tiny.

00:30Amber McDaniel went from living in a camper van with her partner to living in a tiny home in Wyoming.

00:35And though her home felt spacious at first, especially compared to her van, eventually the

00:39charm started to wear off. She and her partner started to feel a little claustrophobic as they

00:42grew their business and lived in the space for several years. Some make it work, like Tiana Maloney

00:47who's living on a 500 square foot converted shed on her parents' property in Santa Barbara rent-free.

00:51For her and her partner, the space is perfect while they save for a down payment for a traditional

00:55house. Plus, it even has enough space for an office, bedroom, kitchen, and full bath.

01:00Still, this lifestyle isn't for everyone. Downsizing means straight-offs. Less stuff,

01:05less space, and often less flexibility. Tiny living might help you scratch an itch to simplify

01:09or finally buy something. But before you commit, ask yourself, can you live with the limits?

01:14To read more stories like this, head to businessinsider.com.

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