Yes you read that right .Are you insane !! your probably thinking right now what does a half million dollar micro house look like? Maybe your wondering what the heck are you building it out of precious metal? is this thing the Prada or Gucci bag of tiny houses? Well not exactly.But I will lay claim to that dollar figure as a true and accurate value for the house I’m building.
Ok so here is the deal It’s not the cost .It’s the savings! If you take a 30 year mortgage that is 360 months and a payment of $1388 .00 per month and for the sake of argument it includes the principle, interest,taxes and insurance on the house it adds up to $500,000 over the life of the loan.Pretty scarry huh? Well that does not even include any upkeep or maintenance!
There are some other things to consider here in the next 30 years or 360 months are you ever going to refinance or take out a second mortgage maybe one of those handy low interest equity lines to pay for a few dream vacations or toys . Sure could use a boat or a couple of four wheelers .Maybe a big ol R.V. to hang out in on the weekends.Could be your just paying college tuition or a wedding .Point is the loan may never get paid off.
Here is a real life problem. The market crashes and the dang thing isn’t even worth what you owe on it and your stuck upside down as they say.Sound familiar ? Well not so with a tiny house. You pay cash$$ up front and your done .So what is it really worth? $300,$400 ,$500 thousand dollars or more.It’s money in your hand ! Not in the house.Save it and pay cash for all the fun experiences you can now afford not paying a big fat mortgage to the BANK OF FOREVER IN DEBT.
Plus its beach front property where ever you go:) Now wouldn’t it be wise to learn to build your own micro house ? Look at what there worth!!