Tiny House | Week 13
“Taking small steps toward your goal is more desirable than taking leaps and going over a cliff.” – Bryce Ward 7/31/2020
Over the past few weeks I have been talking with my family and running the numbers on purchasing property in Washington State. At this time for a 20 year old to purchase a decent home anywhere in Washington they would need to take out a loan for $200,000 or more. For someone like myself I would not be able to afford the monthly mortgage and due to my short credit history the chances of me getting a $200,000 loan is very slim. However there is a sliver lining to this.
After much discussion I have decided to hold off on purchasing land and focus on building up my wealth. However I still want to have my own space and become more independent so with my family’s help we have come up with a plan. Instead of purchasing a permanent home for over $200,000 I am going to be investing in a tiny house for around $25,000.
The plan is purchase a mobile tiny house shell and place it on my family’s farm. My parents have agreed to allow me to live on the farm rent free and because of my remote position I have few expenses compared to a physical job. Because of the low cost to build a tiny house and lack of monthly expenses I can focus on building up my credit and wealth while becoming more self-reliant. In the long run I can chose to sell the tiny house to put towards a duplex, rent it out, or purchase raw land to place the tiny house on.
Hey, thank you for reading this week’s post. I am excited to get started on building my first tiny house and have a place I can call my own. Have you ever built a tiny house? What was your experience? I would love to hear your story down in the comments below!