We’ve had several posts about the impact of so-called tiny houses on the real estate market but now comes a survey from the National Association of Home Builders that says a majority of Millennials (63%) would consider buying a tiny home. In fact, just over half (53%) of those surveyed said yes or maybe to purchasing one. Interestingly, the enthusiasm wears off with age as the results below reveal. Indeed….
Tiny homes, however, may be inviable in many areas. Many local zoning laws have minimum lot size requirements, which wouldn’t prohibit tiny homes, but would make them very expensive considering the cost of land. In addition, many communities prohibit the construction of accessory structures, preventing existing home owners from adding them to their lots (although it should be noted that some communities have passed ordinances in recent months relaxing this restriction).