Rachels Tiny Home Journey Traditional Home Statistics For
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Rachel’s Tiny Home Journey
Traditional Home Statistics * For a $120, 000 purchase with $20, 000 down Mortgage Annual Taxes Allegheny County Property tax: $2, 664 Northgate School District tax: $3, 490 Monthly taxes: $512. 83 Monthly Utilities * Based on Bellevue bills Gas: $150 Electric: $75 Water/sewage: $50 Trash: $15 Money down: $20, 000 Average monthly payment (30 years): $1, 345
Tiny Home Statistics Build Tiny Home Purchasing Land • Purchase price: up to $20, 000 Down payment: up to $4, 000 Monthly payment: up to $85 $16, 500 base cost • Includes trailer, shell, roofing, framing, windows, sliding glass door, and 2 lofts • Also includes delivery to Pittsburgh No-interest credit of $5, 500 for trailer Personal loan for $10, 000 build Monthly Estimated cost of. Utilities interior build: $5, 000 (cash) * Based on tiny home estimates • • • Electric: $25 Water/sewage: $6 • • Trash: $11 Propane: $20 Money down: $4, 000 Average monthly payment for first 12 months: $839. 66 Average monthly payment after 60 months: $147(utilities & land only)
Year 1 Year 2 Year 3 Year Cost to build this year Cost to build in 18 -24 months Continue renting Rent $3, 900 ($650/mo) $7, 800 ($650/mo) Out-of-pocket $5, 000 (interior) $0 $0 Payments $5, 891. 94 ($654. 66/mo) $0 $0 Rent $0 $5, 200 ($650/mo) $7, 800 ($650/mo) Out-of-pocket $0 $22, 000 $0 Payments $1, 855. 92 ($154. 66/mo) $0 $0 Rent $0 $0 $8, 100 ($675/mo) Out-of-pocket $0 $0 $0
Traditional Home Pros & Cons Pros • Plenty of space (too much? ) • Ability to store extra stuff • Fit in with the “norm” • Able to have large gatherings • Can easily fit more things or people Cons • Financial ramifications – Paying for 20 -30 years or must buy an income property – Save less for retirement • Too many extra rooms • Harder/more time to clean • Need to make more money or keep second job long-term • Must rent longer in order to afford a traditional home
Tiny Home Pros & Cons Pros • Financial freedom without needing second job – Ability to pay off student loans and car faster – More money for savings, travel, retirement, etc. • Houses all necessities of life • Allows me to do more outside of my home (garden, travel, entertain, etc. ) • Easy to clean/maintain • Can be moved if Cons • Small square footage • Need for outside shed/storage • Need help and space to finish the tiny house while renting • Can’t have large groups of people over in colder weather
Example Tiny House Floorplan
Questions?
