Every year, more and more Americans are expressing an interest in downsizing into a “tiny house.” Currently, a typical home in the US is about 2,600sq ft. The tiny house, on the other hand, usually ranges from about 100-400sq ft, which is a substantial downsize for most.

So what’s making this lifestyle so appealing?

Let’s face it — today’s first-time home buyers are not all living the “typical” 9 to 5-house-marriage-kids, lifestyle. Many are interested in a much different way of life and becoming more in tune to the potential of the world around them.

People are joining the tiny house movement for many different reasons:

Environmental Concerns
Because the house is so small, you can use recycled or re-purposed materials in the building process. You also have more freedom with the look of the home, making it personalized to your exact individual needs. Aside from just looking cool, tiny houses are easier to set up off-grid. Solar and/or wind powered, rain catchment, and composting toilets are just a few ways people are making these homes more sustainable.

Financial Stability
Tiny homes are a fraction of the cost of a normal sized home. If you have the time, skill set, and creativity to design and build the house yourself, you only have the cost of materials. There are companies that will design and create for you, but cost a bit more for the extra manpower. Even still, prices for a tiny home range from about $19,000 to $50,000, depending on size and finishes. This means you could potentially pay cash for your new home if you save up, or if you take out a loan your payments will be much smaller than a traditional mortgage.

Minimalist Mindset
To live smaller, you are forced to de-clutter your life because it’s impossible to put all of your possessions from a traditional home into your new tiny 300sq ft home. This gives the opportunity to look at your possessions and decide what truly holds value to you and what you only have because….well, you just do, even though it’s never used.

Many who downsize do it strictly for the freedom it gives. If you build it on wheels, they’re really easy to hook up and take with you if you get the desire to move, but don’t love the house hunt process. Want to travel across country? Bringing your off-grid house along for the ride will save substantial amounts money in hotel rooms. Not only is there freedom to move and travel, but you will also have more free time in general. Efficiency is key in a small space. Everything you own will have a purpose and a place. You’ll spend less time organizing and cleaning, and more time on doing things you love.

Tiny homes aren’t for everyone, but those who do choose this lifestyle make sure that their tiny home perfectly fits their needs.