The Small Home Trend

In the past few years, millions of Americans have downsized when it comes to their homes. The reasoning for this could be any number of reasons, such as cost or age, or some people just no longer feel the need for spacious homes. Whatever the reasons are, the small home trend is certainly one that mortgage companies are seeing much more of.

Many people these days are ditching their seven bedroom homes and moving into much, much smaller homes that barely even crack 200 square feet. It seems that lately, society isn’t into thinking that bigger is better and is rather more interested in homes that are more practical, or even homes that come on wheels.

One reason smaller homes may be taking over is because of age. As more people grow closer to retiring age and become empty nesters, it seems those unused bedrooms that only collect dust are no longer a necessity. Plus, smaller homes tend to be more cost efficient, something anyone looking to retire in the near future can appreciate.

Eco-friendly homes are also a trend that mortgage companies are seeing more of, and it just so happens that most of them are smaller than ever before. As society becomes more aware of the planet and the harmful effects of fabricated resources, many have started to become more eco-friendly and hope to become more in tune with their natural surroundings.

With these more eco-friendly homes also comes a desire to travel around. With super-tiny homes on wheels, travelling is easier than ever. Tiny homes on wheels can be taken just about anywhere a car can go, and are much more comfortable than a tent when camping. Not to mention that they offer better protection.

Many of the tiny homes that mortgage companies are seeing an increase in are simply used as additions to existing homes. Whether being used as a guest house or simply just because more space is needed, many people are adding tiny homes to their backyards.

Perhaps, though, one of the biggest reasons super-tiny homes are trending is because they don’t need to be demolished or destroyed when they’re no longer in use by the original owner. Now, instead of having to completely remodel one area of the home, it can easily be sold or transported.

Mortgage companies across the nation have seen an increase in the tiny home trend. No longer does society think that bigger is better. Instead, society is more focused on a modest and simple lifestyle that still offers comfort without being completely locked into one lot for 30 plus years.

Rachel Wood is a finance writer. Information provided by Castle and Cooke Mortgage (NMLS# 1251). Rachel writes for Fusion 360, an advertising agency in Utah. Find her on Google+.