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One of our co-founders, Steph Douglas, is an expert in remodeling. There are many houses that are not very beautiful and have been turned into beautiful objects (like here). One thing he hasn’t done before? A small house was built. Now he can check it off his list.
How To Build A Cheap Tiny House
Apparently, based on the photo above, he only did one thing. But is it easy? How much does it cost? Does he have help? How much does he do himself? What is he planning to do? Well, if you want to know the answers to these questions, keep reading!
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Do you want to buy a house and build a tiny house? Be sure to call and talk! We want to help you understand how much money you can build a house for.
Steph purchased the property in 2013. It’s a 830 sqft 2/1 on .13 acres of land in Austin, Texas. They saw the potential of this unattractive property and took it down to $180k to pay $1,255 PITI (principal, interest, taxes insurance) per month. He owns a few homes around Austin, and loves living in each one while renovating and renting out other homes.
In early 2020, Steph moved out of the main house and began preparing to build a smaller house in the backyard.
Working with his friend Alan, he decided to place the tiny house in the right corner of the backyard. They also decided that a taller house would be the best way to utilize the space, so they built a smaller 340-square-foot house. With the terrace, the actual footprint is 240 sqft.
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Steph made the genius decision to involve her friend Allegra too. Allegra also built a smaller home on their property, and by using the same contractor to build identical homes, each saved about $5,000!
One of the first (and most important) decisions Steph made was what type of foundation she wanted for the tiny house. After considering her options, she decided to go with a beam foundation (pictured below) instead of a floor foundation.
Although rock and beam are more expensive and tend to move around, they are easier to fix if too much repair occurs. With a pole and beam, you can get under the house to fix plumbing problems and move pipes if necessary. The floor foundation is a concrete slab that is poured over the pipe, meaning the pipe is set into the concrete. Foundation problems are very expensive and difficult to fix without access to pipes.
It is important that this tiny house be fully functional, with AC/heat, plumbing, electrical, etc. They knew they needed a bathroom and a kitchen, so they could rent it out on Airbnb or to a regular tenant. This decision is important from the beginning as they need to know where to lay the plumbing for the bathroom and kitchen.
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Next come the interior touches, such as adding tile, hardware, paint and other key components. This process took a lot of time, because Steph and Alan decided to handle a lot of the work themselves and we split it up.
A lot of work went into this tiny house, and even though it was paid for, Steph and Alan saved a lot of money by doing what they could.
This is insane! The average price of a tiny house of this size is between $50-60k, but because of the work done by Steph and Alan it was $20-30k. They could have built a smaller second house with that money!
Steph and Alan are renting out this tiny house on Airbnb. Through short-term rental, they recoup their investment in 11 months. They also use a property management company called Pink Bubble Properties for day-to-day management.
Texas Tiny Homes
Now if you consider the mortgage payment on the home, the $1,255 PITI as mentioned earlier, and the average $3,530 they currently make per month on rent, are they making money every month. This also does not mean that they can rent the main house also.
Steph and Alan demonstrate the potential that a tiny house can bring to an investment property. Although he spent a lot of money in 3 months, he soon turned this property into a big earner.
Do you want to follow in his footsteps? Be sure to learn with our comprehensive tiny house guide! You not only get a step-by-step guide, but also a community to talk things through and for accountability along the way.
Open house austinhouse hack, value home, home, home, open house, home project, home hack, home seller, home blogger, tiny house, tiny house, tiny house build, tiny house diy, diy, diy home, diy project, austin contracts, austin investors, austin realtors, austin texas, austin real estate, austin real estate, austin, austin house, austin home buyer, austin homes, open house austin, austin open house, austin homes, what to do austin, open house austin , Contributor , Contributor4 Articles written by Autumn Cafiero Giusti Autumn Cafiero Giusti Contributing Writer Autumn Cafiero Giusti is an award-winning journalist with more than two decades of professional experience. He writes about mortgages, real estate and finance. Close up of Autumn Cafiero Giusti
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