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A tiny house is still a large investment
If you’re determined to live efficiently and within your means, there’s a lot to like about tiny houses. More people are coming to that conclusion, as the trend toward tiny-home ownership continues to grow. As noted by MainStreet.com:
“The proliferation of the construction of tiny homes has grown in part, because many people want to own a home but also keep the costs to a minimum. The construction and maintenance of a tiny home is more affordable to many potential homeowners who are saddled already with student loans and credit card debt. The Tiny Lifestyle blog estimates the average home cost to about $23,000, with 68% of owners who do not have a mortgage.”
Mortgage-free living may sound like a dream, but a tiny house is still a major investment, and one that many would-be owners need to finance, according to MainStreet.com.
“Some homeowners are able to pay to build a house by utilizing cash from their savings to prevent accruing debt and paying interest. For homeowners who choose to build a tiny house on a foundation, financing is available through a mortgages or loan. Tiny homes which are constructed on trailers can be financed through a RV loan…”
Some lenders, including LightStream are making it easier for good-credit consumers to take ownership of tiny homes. See the complete story at MainStreet.com for more details.