Jen LeMair https://www.ipx1031.com 1m 228 #tinyhome
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Report Finds 73% of Americans Would Live in a Tiny Home
As prices and mortgage rates continue to climb, with interest rates expected to remain high, Americans are increasingly turning to more affordable housing options like tiny homes and alternative living spaces.
A recent nationwide survey by IPX1031 on shifting housing preferences found 65% of Americans would consider buying a tiny home because of the current housing market and 52% have considered alternative housing options because of high interest rates. Notably, 73% of Americans are open to living in a tiny home.
A growing number of home buyers are seeing tiny homes as an attractive investment opportunity, drawn to the potential for affordable homeownership and the ability to generate rental income. The survey results support this trend:
- 86% believe tiny homes are a good option for first-time homebuyers.
- 82% view tiny homes as attractive investments.
- 54% of Americans would consider investing in alternative living spaces as rentals.
- 44% would consider adding an accessory dwelling unit (ADU) on their property to generate rental income.
The potential for rental income is already being realized by many alternative living space owners, with 41% currently renting out their spaces. Plus, over 1 in 10 Americans plan to purchase an alternative living space in the next year, and 10% of them intend to rent out their new property for extra income.
For more insights, take a look at the full report at the link above.
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