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Millennials are switching to Tiny Homes

Millennials are saving money by switching to Tiny Homes
Posted at 7:20 PM, Jun 15, 2022
and last updated 2022-06-15 19:20:40-04

TALLAHASSEE, Fl. (WTXL) — Kierra, “Yes, it is nice to be able to afford my bills.”

Kierra is a resident of Tiny Home Community, The Dwellings. She has lived in that neighborhood for 4 years. She stays in what is considered a “medium” tiny home which is about 290 square feet. She feels the switch to a tiny home was a no brainer. At The Dwellings everything is included in monthly rent. Things such as internet, cable, water, and more.

“I save at least 25% of what I used to spend living in a regular apartment,” says Kierra.

Experienced realtor Kenley Stringer doesn’t believe cost effective living is the only factor turning millennials to smaller housing.

Stringer says, “Our average household size is down compared to two generations ago. Millennials are getting married later, they are less likely to have as many children. So, if your average household size is less, our appliances/devices are smaller, and we can make do with less.”

Though there are multiple reasons for the transition to smaller housing cost still plays a factor. The upkeep for regular housing can be a hassle that a lot of people can’t maintain.

Stringer says, “Typically you’re going to pay a couple percentage points annually of your home’s value in insurance and taxes and then your maintenance cost is on top of that.”

With costs of home maintenance and construction being up shaving down to the necessities just makes sense.