Admittedly you cannot travel anywhere, especially in Colorado, without coming across a camper van or a Tiny Home. There is a huge trend, among Millennials and Gen X’ers to find alternative options to home buying. Colorado is home to forward thinking and Tiny Home building and ownership is on the rise. With the rising cost of buying a home could this be an option for you?

Size

The first question you need to ask yourself is if you could live in 400 sq feet. That is roughly the size of a Tiny Home. Though, Tiny Homes can go up to 1,000 sq ft. Think of a college dorm room which is around 130 sq feet. What would be the pros and cons to live in that small of a space. Where would all your possessions go? It may be a great single living option or for a young couple. There are lots of considerations to think about. Do you have pets? Want to start a family? Can you really minimize your belongings? Can you physically live in a small space with another person?

Location

Where would you want to put your Tiny Home? A lot of Tiny Homes do have wheels and can be towed behind a vehicle. Would you want to find a park or Tiny Home community to live in? A friends or family members side yard? What about a fantastic Front Range property lot? A standard home build may be too much for your budget. What if a Tiny Home opened up this option?

Pros and Cons

As with buying any home, you really need to weigh the pros and cons. Right now there are prefab Tiny Homes that you can have made at a relatively low cost. If done well and correctly, it could help you save money. These homes are also going on the market because owners needs are changing, just like any home. This may be a great short term option, a great investment property -Airbnb, VRBO, or even one that could be turned into a mountain camp. Think of all the considerations and take some tours of Tiny Home’s to see if this is an option for you.