Ok, so you’ve made the big decision to downsize. (YAY!) But that’s as far as you’ve gotten. The next step? Your Tiny House Budget, aka how the heck are you gonna pay for all this! Obviously a big upside to downsizing is the ease on finances, but there are a lot of unforeseen upfront costs to going tiny that you may or may not have considered. So let’s talk about that: Budgets…
ewe. I promise to make this as painless as possible…
Today’s post isn’t about saving money or how cheaply you can get away with building or buying your tiny house. Even in the past two years that I’ve been researching tiny houses, the prices associated with it have increased tremendously. (an increase that naturally occurs when anything becomes trendy and popular.) Transitioning to tiny living can actually add up in the beginning if you don’t plan ahead and really do your research.
It’s easy to make mistakes: we sure did!
We encountered a lot of unplanned expenses during our transition to tiny living. (as is the case with 99% of builds or projects however big or small.) For example, we used up all the money we had saved for the remodel and couldn’t buy a couch for almost a month after moving into the trailer…(see sad dog above for reference.)
I didn’t really factor in the transportation costs (both time and money) associated with moving our RV. We had to invest in a $500 tow hitch and kit. We remodeled it down in Corpus where we had access to better supplies and much needed help, but we got 5/6 mpg the whole way down. The trip cost about $300 just in gas. I could go on about random expenses we incurred but overall it boils down to a lack of realistic budgeting on our part. We just didn’t accurately budget how much money we would need for everything. We also didn’t account for the budgeting of time. The last few weeks we were spent scrambling for supplies and working 8-9 hour days to get the trailer completed by our move out date. Luckily we had a lot of help and it all came together, (minus a month without a couch) but if we had spent a bit longer planning it might have been a little less chaotic and stressful. (obviously)
Also, we were luckily enough to already own a truck that was equipped (barely) to pull the trailer. Once we decide to do some traveling we’re going to have to invest in a more powerful truck. (which J is obviously secretly super excited about). If you don’t own a truck you’ll have to factor in towing costs or the price of a new vehicle. Something when we started I didn’t even think about.
So, how can I help you not encounter the same tiny house budget issues that we had? Well, I’ve put together this handy free tiny house budget planner (something I did not have when we were starting, but wish I had) to help guide you in figuring out what expenses you’ll need to save up for when planning your downsize to tiny living.