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Tiny Home Market: A Growing Need

Tiny Home Market A Growing Need

Published on : Nov-2022

Tiny home is a small house, usually sized below 600 square feet. Most small houses are constructed on trailers although they can be built on permanent foundations. This compact house style is also called a THOW (Tiny house on wheels). The 'small-size house trend' began in the late eighties and boosted by the beginning of the millennium. Most citizens wanted to get away from the company of the big city and the focus on living a substantial lifestyle.

Surging need for less space occupying houses

“330 million urban family worldwide lack decent housing or housing costs are so heavy that they need to forgo other basic needs such as food, health care, and education for children” - McKinsey Global Institute (New York)

It is undoubtedly difficult to solve this problem. Strong housing requires more than just a shelter over the head. Better housing is important for economic growth and social well-being, and physical & financial security. In addition to comfort, the integration into community, jobs, infrastructure and municipal services is important. This problem is even more important for people living on the streets. To make progress and successful, it is important to have a place to make a life structure.

Is tiny home a solution?

Even though the trend in the system of small homes is relatively new, it has already begun to gain momentum. The movement has gradually spread to the entire world which was originally started from several people who lived in the USA where there were small houses constructed to support the ones effected by hurricane Katrina over a decade ago. They have now originated in countries such as Germany, Japan, Spain, and many others, as they provide their inhabitants with various advantages.

Tiny homes provide a flexible and sustainable housing choice for very low-income people with small homes that are safe, manageable and affordable in a healthy community setting. Small homes are a perfect way to save on the initial purchase price and maintenance costs and have far lower environmental impacts. The purchasing of an estate in a small residential village facilitates a real sense of community and security. With the prices of real estate hiking up and showing no sign of decreasing shortly, the only alternative left with the people is to find a way to spend less and invest in a tiny home. 

The adverse impacts on the planet that our consumption of natural resources like fossil fuels and water are still widespread. Many investors and manufacturers have proposed to reduce their environmental impact and Small living spaces will contribute to these efforts.

The solution to the global housing crisis is unlikely to be small homes, but they play a part in offering compact and versatile housing options. Tiny Houses are leading to a surge in residential inventories by producing fewer financial and ecological footprints, whether for people wanting to downgrade their current lifestyle or for people needing better housing affordability and even homeowners who want to create a viable second home unit on their property. Nonetheless, there are still some planning policies which make it tougher and less secure to live in.

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