Owning Your Own Land and Home Cost-Effectively

1081

Something that’s been taking America by storm in the last several years is the “tiny home” movement. You may have heard of this. Basically, enterprising Americans are finding ways of building smaller, and more cost-effectively. They’re able to build and own their own homes in only a matter of months. Even with financing options, this is quicker than traditional routes

Crunching The Numbers

According to the USDA, the average cost of land per acre in the US is approximately $3,020. If you’re not familiar with space as it pertains to the term “acre,” it’s approximately 43,560 square feet. You don’t need that much to build a tiny home. A 1,000 square-foot property is probably only going to take up 1,500 square feet, or less. But let’s assume it requires an acre.

Now since averages don’t represent all buying situations, let’s further assume the cost of land at $5k. to build a structure on that land cost-effectively can be cheap or expensive, but going the “tiny home” route, you can get it done for around $20k.

Prefabricated buildings average between $10 and $20 per square foot. That means a 1,000 square-foot property is between $10k and $20k; call it $15k as an average. Now you’re at $20k total, including property. You can source solar panels for as low as $.70/Watt, if you know where to look. So if you average a solar system at around $5k, you’re up to $25k.

If you spend $5k on insulation, perhaps a fireplace, and other areas of construction that make such a property “livable,” you’re up to $30k. Add in a well and some wind energy, you can round the whole thing off at $40k. That means for only $40,000 you can own your own sustainable home, and the land it sits on.

If you’re only making $2k a month, you’re looking at an annual income of $24k a year. If you can funnel $10k per year toward such a project, you could have your own home completely bought and paid for, as well as the land it sits on, in four years’ time. Once you’ve completed the property, you can sell it for more than you spent building it.

Surprising Possibilities

If you built a prefabricated structure on the land you purchased, then ensured said property were sustainable as far as energy is concerned, it’s conceivable you could sell the whole thing for $50k, then find another property and do the same thing in a few months’ time with no financing solutions necessary, and even be up a few thousand.

According to AmericanSteelSpan.com, their steel airplane hangar solutions are easy to keep up, as they require: ” … no maintenance … the steel is covered in a special alloy of aluminum and zinc which makes it seven times more rust resistant than galvanized steel.” These provide an ideal means of constructing your own “tiny” home.

Should you decide metal buildings in West Virginia are your best bet for cost-effective living, you’ll be part of a trend that is changing the face of residential autonomy nationwide. You can almost cut the banks out entirely, if you’re savvy with your income. Live cheaply for a few years and save every penny, this plan becomes very “doable.”

The costs of living today are increasing, but methods through which those costs can be offset are also increasing. Green solutions and technologically proficient architectural developments are changing the entire landscape, and for the better. If you’re thinking about going the “tiny home” route, now is a great time to explore your options.

Melissa Thompson writes about a wide range of topics, revealing interesting things we didn’t know before. She is a freelance USA Today producer, and a Technorati contributor.