I saw an interesting news segment today about mini houses and how they are apparently becoming more popular. As the name implies, it is literally a house that is built pretty small to simply accommodate the necessities. There were some remarks such as people were tired of paying mortgages and so instead they decided to get a house that only costs about $15,000 to make which eliminates that problem.
I always wondered if this would work in a more populated area as I would think the big cost of the real estate in general is the property itself. Like now if I was going to say build a compact house to live in I would most likely have to buy an existing house just to get the land. In many ways it sound smarter to get something based on your needs as opposed to forcing yourself to pay a market rate for things you don’t necessarily need. Will have to wait and see if these will become more popular.