If you are a homeowner and want to buy a house, you set budgets, expectations and priorities, right? For example, if you are looking to raise a family, you may wish for a larger space that your kids can grow. If you are retiring, you might look to renovate your space to explore hobbies and emotional fulfillment. Regardless of who you are, if you consider a separate living space (dwelling) on your same property, you will have another question: what makes a great tiny house?
As a homeowner, you don’t have to settle for one type of tiny house. Different designs allow for variations in lifestyle, as well as daily routines. With an area of 500 square feet, you can save on fixed costs in the long run and have more living options.
In addition, tiny homes have many financial benefits. A tiny home on your land can provide extra rooms for a nanny, housekeeping employees, in-laws, and guests. You can also rent the space to interested tenants and earn additional income plus a higher value on your investment. For a sample of what you can expect to get as a return on investment (ROI) on a Tiny Home, you can refer to this link.
4 Reasons You Should Invest In Building A Tiny Home
To help make your decision easy, we have broken down the 4 main reasons our customers choose OGC to build their Tiny Homes.
Tiny homes are much more affordable to build than standard houses, town homes, and condos, especially if you are looking to expand. Smaller homes require less electricity, heating, cooling, and water. As a result, the bills shrink with the square footage. The startup and installation costs are also smaller for those who want to consider off-the-grid utilities like solar panels or wind turbines.
Gives You Flexibility
You get more choices regarding home and interior design. With a smaller house, you have more flexibility on how you want to maintain the look of your Tiny Home, especially if living in rural areas. Renovations cost less, allowing for a higher level of customization.
Most standard homes have to conform to conventional architectural blueprints and building codes regarding plumbing, floor planning, and structure. A Tiny Home provides more options for these blueprints with a smaller space to organize; for example, a homeowner can choose to combine an open kitchen with a dining or living room. Alternatively, a small bathroom can open up to a patio so an owner can run inside for a quick rinse after doing yard work.
In addition, Tiny Homes are very accessible. If you are in a wheelchair or have been injured, requiring mobility aids, you can live in a space that is just the right size and is designed to accommodate your needs.
Increases Your Home Equity
Building a Tiny Home on your property will give you increased equity. Homes with a secondary seperate dwelling and a permanent foundation appreciate over time. If you decide to resell the property down-the-road, you could market your Tiny Home on your property and receive an attractive offer that earns you a greater return on your original home value.
Plus, when you get a mortgage on a small home, you can leverage the increase in property value and cash-flow over time. You can then either rent the space to tenants as a landlord, or resell at a higher price than when purchased.
Provides Intensification & Beautification
Tiny homes allow you to turn any property into a beautiful living space. Both urban and rural areas have plots that are too small for standard homes, businesses, or other buildings. Urban and suburban sprawl does not help, sending rents and home prices skyrocketing when spreading beyond established city boundaries, especially in Ottawa. As a result, homeowners have fewer options for landscaping and driveway renovations.
Is Your Lot Eligible for a Tiny House?
The only way to find out is to get in touch with our team and do an assessment. At OGC, we understand the by-laws, build-code, landscape, building requirements and the entire Design + Build process that goes into a successful project better than anyone else. Get in touch today with one of our Tiny Home specialists here.
Why Choose Ottawa General Contractors (OGC) For Your Renovation?
Ottawa General Contractors believes new owners can do more than settle for a traditional home. We work closely with our clients to ensure they can live in their dream homes and thrive, focusing on well-being and high-quality design.
Are you ready to learn more about how tiny house designs can help you forge a path forward? Please reach out to us today. Ottawa General Contractors will design your small home and make it perfect for your lifestyle.