With retirement, many seniors move to smaller homes with fewer costs and less upkeep. The surge of tiny house popularity has proven to appeal to many downsizing seniors. In fact, according to Senior Planet, 40 percent of tiny house owners are 50 or over.
Whether you are looking for yourself or for your parents, understanding the benefits of retiring to a tiny house is important. We’ve outlined 6 main benefits for a tiny life retirement below, so keep reading for more info!
1. No mortgage
Mortgages are one of the greatest drains on a retirement fund. According to Senior Planet, 63 percent of senior tiny house owners have no mortgages. When moving to a tiny house, many seniors pay $40,000 to $80,000 for their new homes, which includes any renovations made for easier living. Retirees who want to work part time will be able to enjoy a lifestyle that matches their income.
2. Travel
Some tiny houses are built on foundations, but many are built on trailers for greater mobility. Too much travel can cause wear and tear to your home and generate high costs in fuel, but occasional moves are always a possibility. Visit national parks or the ocean. Spend a few months with each of your children or with an ailing friend or relative. Take advantage of this time to explore and experience the world.
3. Simplify
The average tiny house is around 260 sq. ft., which is 10 percent of the size of an average American home. With less space comes less to clean and maintain, but also less space for storage. Learn to live with only what you need and treasure. A smaller space and fewer appliances require less time and money to maintain. Enjoy the time you would have spent cleaning or repairing and gain a new appreciation for the simple life.
4. Lower utility costs
A home one-tenth the size of an average home will only use about one-tenth the amount of energy to heat, cool, and light. You can save water that would have gone toward watering the lawn. Enjoy a more manageable monthly budget and use fewer resources.
5. Join a community
Senior Planet found that people who share their tiny house with a partner have more “open communication, understanding, and patience.” Along with better relationships with partners, tiny house owners join a community of like-minded people who can share experiences and advice. Enjoy a community of retirees who have the same mindset and goals.
6. Build to your needs
Many retirees renovate their homes to better fit their needs as they get older. With a tiny house, seniors can customize their homes to best fit their needs, lifestyle, and wants. Tiny houses have less strict building codes than larger homes, which gives more creative freedom to owners. Use this freedom to build the home you’ve always wanted — on a smaller scale.
Would you retire to a tiny house? Tell us why in the comments!
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