“The new status symbol is cultivating a life of experience. It is about experiences, not stuff. And small spaces allow us to do that. People are looking for smaller mortgages, smaller time lines. With more time and money for other things.”
– David Latimer, tiny home designer
Over the past few years, there has been a rise in folks looking to downsize for a variety of reasons: a simpler, less cluttered, and more sustainable lifestyle; decreased home maintenance; and increased freedom and mobility. While tiny homes have been around for centuries, the real boom took place in the early 2000’s in the midst of the economic and housing crisis, for obvious reasons. However, it has since spread and become a mainstream idea in the world of home ownership.
TV Shows like Tiny House Hunters Prove that this Trend is Growing
In a 2018 survey by the National Association of Home Builders, more than 50% of all adults surveyed would strongly consider living a home with less than 600 square feet. Amongst millennials, that number rose to over 60%. Television shows such as HGTV’s Tiny Luxury, Tiny House Hunters, Tiny House Big Living, or the FYI networks Tiny House Nation and Tiny House Hunting confirm the fact that many people are looking to downsize. That is, of course, without sacrificing the comforts and/or luxuries of a larger home.
Tiny Homes as a Source of Income
While tiny homes may not be the ideal residence for some folks, many people realize the value that tiny homes have as a way of generating rental income.
Eco-friendly tiny home village in England – Courtesy of www.tinyecohomesuk.com
If you look on popular vacation accommodation sites such as Airbnb or VRBO, they are filled with tiny homes ranging in size from about 70 square feet to 400 square feet. Tiny homes are an incredibly popular choice amongst younger or solo travelers, as well as digital nomads who are seeking out budget friendly living options.
Plus, another benefit of tiny-home ownership for real estate investors is the relatively low cost to build or purchase a tiny home. As a result, investors are able to purchase multiple tiny-homes, thus increasing their income through rental opportunities.
Initial rendering of tiny home at Gran Vineyard Estates. Rendering subject to change
ECI Development’s newest property acquisition, Gran Vineyard Estates, in the Uco Valley of Argentina, has an entire section designated for a Tiny-Eco Smart (TES) Village, with views of the property’s vineyards and the awe-inspiring Andes Mountains.
In addition to Gran Vineyard’s TES Village, there are also conversations of creating a similar tiny-home community in Belize. If you are interested in receiving more information about ECI’s tiny-home communities, please complete the “Contact Us” form and we will provide you with the latest details and renderings.