As lending rules grow tough individuals who have longed to be homeowners are forced to let go of their dream. Rising costs keep residents away from the market but the latest real estate trend may offer an innovative and economical solution.
The new construction trend has required many to cut back in every sense. Small or “wee” homes have become a flourishing trend that alleviates environmental stress and saves money offering economic freedom, Orlando Sentinel describes. This affordable home option comes with more than cozy living quarters by offering financial independence from a mortgage.
Although downsizing may seem impractical, the title small home could be misleading. Many of these compact units, which typically measure approximately 200 square-feet, are actually spacious and offer so many of the amenities of the average suburban home. The Huffington Post features HGTV Remodels’ Tracy Metro’s, tour of a small home illustrating the ample amounts of storage space in the student drafted Yestermorrow home as well as a gallery of 20 small homes.
Only time will tell if these small homes are simply a fad or here to stay and make a permanent impact on the housing market.