How One Woman Built a 'Luxury Tiny Home' in Her Backyard for $35K and Now Has $0 Expenses
expenses, including the mortgage on her tiny home. Precious Price built a tiny home in her backyard for $35,000 and now lives in it with her dog. She rents out her 3-bedroom house to cover all of her living expenses, including the mortgage on her tiny home.
In 2019, I purchased a three-bedroom house with 1,400 square feet in Atlanta, Georgia, for $196,000. Bookings dried up by 2020. In the early days of pandemic, no one wanted to live with a stranger. They hired a local team of contractors to pour the concrete slab. Instead of getting a loan from a bank, I cashed in $8,500 worth of stocks and used about $20,000 to pay everything. I earned almost $32,000 gross rental income by charging $89 to $129 per night, and $1300 monthly. The monthly costs of both homes are listed below:
Mortgage and Property Taxes
$1,200
Electricity:
$190
Water:
$110
Internet:
$80
The kitchen is my favorite room. Eight separate windows, mirrors on the wall and a glass shower door make it feel larger. The mirror is a small detail that makes the room feel more spacious and homey. I had to reduce my shoe collection and wardrobe. Instead of getting rid clothes that I still want, I store them at my friend's home. I think that tiny houses will play a major role in reversing the global housing crisis. After realizing the effects of short-term rentals on Atlanta's real estate market, I stopped listing properties on sites such as Airbnb in 2021. Since then, I have reduced my portfolio to include local students and workers with low incomes. I am excited to experience the tiny house lifestyle myself this year. She is a TEDx Speaker, Marketing Strategist and Social Entrepreneur. Amidst the discussion about the impact of short term rentals on housing affordability, and availability, we found. She has a Master's in Management Information Systems from Indiana University. Our weekly newsletter will help you make better decisions about your career and finances.