Here are the key motivations for tiny living.
Self Determination
When you take out a bank loan for a house or a car, you give up full control of those properties.
I find it amusing when people say they own the 5,000 square foot home they just moved into. They, of course, do not own it. The bank does. And if they miss a few payments for any reason, the bank can take it away from them. A mortgage gives the bank considerable control over your life until the loan is paid off.
With small houses and cars, the possibility of paying for them in cash is much more within reach. It’s also easier to pay them off much earlier. And once they are paid, you gain full control of those properties.
Aversion to Mortgage Prison
A huge mortgage can create a financial prison. This is especially true if the housing market takes a dive, the amount you owe is much greater than your equity, and there are no buyers. Even if the market is fairly stable, you’re in the same boat if there are no buyers.
In these situations, you’re forced to keep a job you may hate. You’re forced to pass up your dream to start your own business. And you’re forced to continue to live next to an outrageously noisy neighbor because you can’t afford to move.
If you have a small house, you’re in a much better position to avoid these situations and make changes if necessary.
Reduced Expenses
All your expenses go down dramatically when you live tiny. With a small house, this means much lower mortgage payments (if at all), utility bills, insurance premiums, and maintenance costs.
It’s similar to a small car. It costs much less to buy, insure, gas, and maintain it.
Your furniture needs go way down since you live in a much smaller space. In many cases, furniture, appliances, and electronics will cost less than you might pay for a traditional-sized house since they’ll often be smaller.
Luxury Conditions for Less
A small house will have lower overall expenses and less total square footage. Because of this, you can more easily afford to buy some luxury items that might otherwise deplete your savings if you were doing it in a traditional size house.
more easily afford central air and water purification, heating and cooling systems, and renewable energy devices (solar, wind). You can afford luxury items such as premium countertops, flooring, and kitchen and bath fixtures. You can also more easily afford central air and water purification, heating, cooling systems, and renewable energy devices (solar, wind).
Many things that you add to a small house will cost less because there is less material used to complete the job. Don’t let contractors give you a baseless rationale for keeping the costs like that of a traditional size house. Get at least three estimates to know where you’re with pricing and integrity.
Quicker Wealth Accumulation
If your monthly expenses are much lower than those of owning a conventional-sized house and car, the opportunity to build your savings is tremendous. And nothing gives you more freedom, power, and choice than liquid assets like cash!
If house values tank, an economic recession begins, and gas prices go through the ceiling, no worries! You’ve got cash, low expenses, and hopefully no credit card debt, mortgage, or car payment.
More Time
It’s easy to imagine how much less time-consuming it is to clean and maintain an 800-square-foot small house than one that is 5,000 square feet.
A small house and tiny living, in general, mean that you can take a less demanding job requiring fewer hours.
The goal is to be able to do more of what you love and less of what you don’t.
Use Less Natural Resources
I don’t know how many trees it takes to build a traditional size house, but I’m certain it’s a ton more than what’s needed for a small house. This is particularly true when it comes to a tiny house.
A small house’s footprint is much smaller than that of a conventional house, so its environmental impact is less.
Small cars and appliances use fewer energy resources, which also helps.
Inspires Brilliant Innovations
Tiny and small things require ingenuity, creativity, and resourcefulness to be made, used, or lived in.
I’ve been amazed by the inventive things people have created to make their tiny and small houses more efficient and comfortable.
Automobile manufacturers have developed all new components for exclusive use in their microcars. They have done this to maintain performance, comfort, and safety standards. And, of course, you get better gas mileage.
Tiny Things are Irresistible
Tiny houses, cars, and other things are like puppies. Most are irresistibly cute.
Small houses can bring back pleasing memories of a small craftsman-style home, beach house, mountain cabin, or idyllic tiny house in a painting, movie, or book.
It’s as though designers of small houses, cars, appliances, electronics, and other tiny things work harder to make the best use of every inch to achieve an attractive appearance and optimal functionality.
Freedom
This is the principal motivation for tiny living. The goal of this lifestyle is to create as much freedom in as many areas as possible.
True freedom is more difficult to achieve consistently when living large, even if you have a lot of money. Having large amounts of money often leads to bigger houses, obligations, and responsibilities, and less freedom.
Tiny living can create more freedom because it focuses on reducing obligations and responsibilities while increasing financial independence and simplicity.