There is a tiny home up for sale in my area. It is quite small but fully functions off the grid. They are asking $35,000 for it. It is very modern and sturdy as well. I am considering buying it and renting it out. I just never worked with something like this before.
I'm uncertain about this.
I am fully aware that more and more people are into these types of homes, but who knows whether they will really take off and explode in value.
If you have the spare cash, it could be a worthwhile test investment.
I know they are good for those looking to own without restrictions or huge debts but I have never heard of anyone buying one to rent out. I would check your area and see if there are others doing this.
It depends on where you live. I don't know of a single one anywhere in my area so it wouldn't be a good idea to invest in something like this. I do know of someone who has somewhat of a tiny house on their property but it is more of an office. It is a room with a small kitchen area and bathroom.
Given the economy and how a lot of millennials can't afford to buy homes, I would say now is a good time to jump on the trend. It is just a matter of finding them to buy or getting them built yourself. I know some areas would allow several tiny homes on one property and it would function like a trailer park.
Most people looking to rent a place like this will know what they are looking for. What size is the home? $35,000 really isn't all that much for a modern tiny home. I have seen many that have been well over $70,000.