With the high costs of senior living, many seniors are looking to tiny houses as a way to save money.
For some seniors, a tiny home is more ideal than living in a different setting. In a tiny house, all you have are the necessities you need in your daily life.
It’s also easier to clean and maintain compared to big houses. You can see the pros and cons of tiny house living for seniors in this article.
But how much savings can you expect if you buy a tiny house? And, at the end of the day, how much does a tiny house cost?
Below we look at the cost of tiny houses. And not just the overall cost. We also break down the costs of all the components that go into a tiny house. By the end, you’ll have a pretty good idea of what an average tiny house will cost.
Buying vs. Building Your Own Tiny Home
Clearly whether you buy an already built tiny home vs. building it yourself will affect the cost.
Building your own tiny home usually costs between $10,000 and $30,000. If you want to hire a builder, you can expect that cost to double.
Size and Location
As you might expect, tiny house costs vary based on its size and the location of the home. But, on average, you can figure on a pre-built tiny home to run you between $50,000 and $80,000.
How Much Does a Tiny House Cost: A Breakdown
A tiny home is, well, tiny. Which can make it easier to understand pricing by walking through a cost breakdown of a tiny home. Here are the most common parts of a tiny house and what they cost.
Trailers are usually the base of a tiny home. Most tiny homes are built on trailers because it is just easier that way. And one advantage of a tiny home is that you can take it with you if you move. Figure on the cost of a trailer running between $3,500 to $5,500.
Costs here depend on type of windows you want and how many of them there are. Average window costs for tiny homes can range from $500 to $6,000.
Installing more windows can give your tiny home a cooler atmosphere. Literally! You can simply open the windows and let the flow air in.
Naturally, every home needs a good roof over it! Metal roofing for tiny homes can cost from around $500 to $2,000.
To keep your tiny home cooler and keep the heat at bay, proper insulation is needed. Insulation for tiny homes costs around $500 to $3,000 depending on how big your home is.
Additionally, we have the sidings to think about. An average cost of sidings for tiny homes is anywhere from $1,000 to $2,500.
Naturally, you cannot build a home without lumber. Tiny homes usually require $1,000 to $5,000 worth of lumber.
Now, we move on to the inside of your tiny home. If you want to opt for simpler interior design, it can cost $500 at minimum. However, if a more detailed design is more your style, the cost can go as high as $4,000.
Electricity is one of the major necessities of every home. For tiny houses, electrical needs usually costs from $750 to $3,000.
Your bathroom needs to have a shower, too. At least if you want any visitors! This can cost anywhere between $400 and $1,000.
Now, if you’re not planning on doing more manual labor when it comes to heating your own water, a water heater is essential. Water heaters for tiny homes can cost anywhere between $500 and $1,000.
And then you have the HVAC which usually costs $500 to $1500, depending on your needs.
A toilet is another basic home necessity. For tiny homes, toilet can cost anywhere between $20 up to $800, if you feel like you should splurge on good toilets.
Additional fixtures in a home are optional. But in order to live comfortably, we highly recommend it. This can cost anywhere between $1,000 and $5,000.
Now, think about which appliances are necessary, and which ones are just luxury. A simple stove, small fridge, basic living room set, television, are the most common necessities. Depending on what you need, this can cost from $400 to $4,000.
Interior walls for a tiny home usually costs $500 minimum. However, if you feel like the basic $500 wall is not enough, you can go splurge a little which can cost up to $1000.
Flooring for a tiny home is not too expensive. There’s only so much floors to cover, right?! This can cost anywhere between $300 and $1000.
Fasteners and Adhesives
Fasteners and adhesives are a must. After all it is part of what keeps the home together! You can expect this to run a minimum of $1500.
Now on to the finishing touches. Painting a tiny home is not too expensive. It can only cost you anywhere between $50 and $200.
There you have it! The basic costs of tiny houses and everything you need to live comfortably. Now that we have all the basic costs of a tiny home covered, ask yourself this: “Is it more cost-efficient to live in a tiny home?”