12
Dec
2019

Tiny Home vs City Apartment: Which will suit you?

Modern life has changed the way we interact with the world, from technology to finances, we are evolving the way we live our daily lives. When it comes to choosing a home that you can afford, you may have two options here: build or buy a tiny home or rent an apartment in the city. Proponents of apartment living would argue that there are staying in a tiny home has disadvantages, but so does renting an apartment.

If you are trying to decide between a tiny home and an apartment, the most important thing to do is to analyse all of your options. This way, you can determine what will work best based on your lifestyle, preferences, and even your budget.

However, at the end of the day, tiny houses are more preferred by many people. Is it the right one for you though? Let us take a look at the top reasons why several individuals choose tiny homes over city apartments:

tiny home interior

    1. SizeApartments and tiny homes are thought to be the top choices when it comes to downsizing. One common misconception about downsizing though is that people tend to think they would have to sacrifice their comfort and lifestyle to achieve a much smaller size.

      In reality, downsizing means that you live in a smaller space to suit your needs. You will still feel comfortable even when you may have been accustomed to a bigger sized home before. The amount of space you get should be adequate for your possessions, as well as you and the family members (if any).

      When we talk about square metres, you may already be aware that layouts are different. It is common to find some homes that have a larger footprint but do not utilise the space efficiently due to poor design.

      To understand better, let us compare tiny homes and apartments based on their square metres and measurements:

      • ApartmentsThe size of the apartment will depend on its type. Some are studio apartments; others have at least one bedroom. We will mainly focus on studio sizes because they are comparable to tiny homes, particularly when downsizing. In Australia, apartments are about 108.1 square metres on average, but many studio apartments are around 18.5 to 37 square metres. The floor plan includes areas for living and sleeping, along with the bathroom and kitchen.
      • Tiny HomeMeanwhile, tiny homes have varying sizes depending on their type. Others are attached to a trailer, known as houses on wheels. The average size is around 4.11 metres x 2.6 metres. The common square metre measurement of tiny homes is 45.72 to 76.2 square metres.

      You cannot deny that studio apartments are larger in most cases than a tiny home. Although they are bigger, many people still choose tiny homes due to thee space in a tiny home is more usable and liveable – therefore, more comfortable. You can easily live a clutter-free life.

    2. To rent or ownProbably the biggest question when deciding is whether or not you wish to rent or own a house. The answer is clear. Surely, people would choose to own a home rather than rent for the rest of their lives.

      When renting, you will have to deal with a property manager or a landlord. There is a monthly rental fee, along with many costs, such as insurance and the like. Depending on the area, the cost per square metre of an apartment can be around $4,953 to $5,985. These prices are for those who may want to purchase an apartment.

      When you have a tiny home, it is your home. You do not have to rent it; it is all yours. You do not have to pay the rent and other fees, although you are responsible for it. Many people would need to borrow money from the bank before they can purchase a tiny home. Although you end up in debt, you are investing in your future.

      When you take a look at the bigger picture, you will see how a tiny home is a much better option. Renting an apartment means that you need to sign a binding contract, which may not let you save for your future.

    3. PrivacyAnother huge benefit of owning a tiny home over renting an apartment is that you get an amazing sense of privacy. Living in a tiny home allows you to move to a more remote location if it is attached to a trailer.

      If you do not like the busyness of the city, you can relocate for a while. For instance, you can go to the more peaceful countryside that lets you get in touch with nature. Then, you can come back if you have work to do. When you rent an apartment, however, you are stuck in a noisy city. Plus, you cannot get the same sense of privacy as with a tiny home.

      Apartments are either in a separate unit or situated in an apartment complex. The building will at least have one neighbour sharing the wall with you. Meanwhile, if the apartment is on multiple levels, you still have to worry about the noise from below or on top of your unit. There is simply little to no privacy when living in a city apartment.

compact city apartment

  1. CostMoney talks when you look for a place to live. You can always pay for a huge home if you have the money. However, you probably have a specific budget that you do not want to go over. Your budget depends on your financial situation right now, as well as the amount you are willing to invest in a home.

    In Sydney, the median rent price for an apartment unit is $500. Brisbane is much cheaper at $370 per unit while Melbourne also has affordable pricing, coming in at $365 for a unit. Perth has a more complicated apartment landscape. The recent inflations in prices have affected the city in many ways, but the units would usually be around $385 per unit.

    On the other hand, you will have to pay about $3,000 to $5,000 per square metre for a tiny home. Financing it would result in a much smaller payment than when you rent. In the end, the home is yours to keep, unlike with an apartment where you can get kicked out if you do not pay the rent.

There are many advantages to choosing a tiny home over a costly city apartment. The only thing that will matter in the end is whether the advantages are right for you. Lifestyle, financial, location and other circumstances will contribute towards the decision you make for your living arrangements.

If you believe that a tiny home is a right move for your next home, Fox Tiny Homes would love to help. We have a huge range of designs to fit your living needs. Get in contact with us today to start your tiny home dream come true.