Young couple reduces their mortgage by moving to a tiny home
By Hellen Mac
(Et, Wed Apr 6, 2021)
Owning a house is a dream of many, and it accompanies a weighty sticker price. Notwithstanding your financial status, purchasing a piece of real estate requires cautious arranging, right selling and reserve funds for crises. The normal cost of a house in the UK drifts around £496,066, and individuals for the most part really like to select a 10-year credit plan at least.
In any case, paying EMIs for that enormous home some of the time feels a weight as the livelihoods are questionable. In the midst of this, the pattern of minimalistic living spaces is blasting in the UK and different nations. Families are moving to minimalistic homes that are perfect for their living to lessen their weighty home loans. By doing this, individuals can save cash and amplify their investment funds each month.
John and Eve case study
John and Eve, a young couple, from Liverpool who recently got married, followed the tiny home trend and cut down their mortgage from 10 years to only 18 months.
John works as a photographer while his wife works as a social worker, but as you could rightly guess, their combined earnings weren’t enough to provide them with the kind of financial status one would long for.
John and Eve who once had a £536,500 mortgage repaid the vast majority of the acquired add up to the bank, and they effectively cut their heap of 10 years to just a half year. They moved to a minimalistic home which cost them just £62,000. With this savvy move, presently they just need to pay EMIs for 18 months.
Tiny House Prices in the UK & Their Benefits
Tiny house prices start from as low as £50,999, and it is far lower than owning a conventional big house. As these houses come with in-build solar panels, they are an eco-friendly option. Some of the key benefits of living in a tiny house include:
- They are less on maintenance and cleaning
- You can take it travelling wherever you go
- With a tiny house, you don’t have to worry about future moves
- Tiny houses are environmentally-friendly
What’s stopping people from moving into tiny houses?
Some in the movement argue this is due to obstacles such as restrictive planning policies and difficulties in getting finance and secure access to land. In response, some local governments have published helpful fact sheets and guides.
The Tiny House movement is gradually catching on. More and more people in Great Britain are looking to their gardens to create a bit more living space or temporary accommodation. Whether it’s for a teenager, a spare bedroom for family or friends, a bit of extra B&B space. These custom built, fully insulated, luxury cabins are built like a house which will last a lifetime
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