I couldn’t afford a house so bought a tiny home for less than a flat deposit- I have no regrets… there is a catch though
A WOMAN who couldn’t afford to buy a house has revealed that she bought a tiny home for less than the cost of a London flat deposit.
Sav, spent £40,000 on her tiny home and said that she has no regrets.
Her trailer home is 33.75 feet long and has a large open plan downstairs area.
In the downstairs area there are two large armchairs, and a spacious kitchen with an oven, a washing machine and a sink in it.
It also has a mezzanine area with a large double in it.
Sav also has a large dog, and there is room for both of them in the cosy home.
However, there is one downside: if you aren’t able to use friends’ or family’s land, you will have to buy a plot to keep the tiny home.
Sav’s (@beachbumsav) video has likely left many people open-mouthed, as it has racked up 630,000 followers on the video sharing platform.
TikTok users raced to the video’s comments section to share their thoughts on her tiny home.
One person said: “It’s sooo cozy and beautiful! You did a fabulous job.”
A second person said: “That looks so cozy.”
A third person said: “A tiny home seems so fun, I’d love it.”
Living in a converted shed is a great way to save cash for a house, whilst still having your independence.
As the cost of living crisis continues to bite, more and more adults are struggling to get on the property ladder and are choosing to live in their family home for longer.
The 2021 census revealed that over half of people aged 23 and under still live with their parents.
The average price of a house in the UK was £285,000 as of March 2023, and this rises to a whopping £735,254, which is completely unaffordable for many.
Moreover, research from the Resolution Foundation found that the average first time buyer deposit tripled from 5 per cent of the property price in 1989 to 15 per cent in 2019.
This means that buyers have to save for far longer and use up a larger percentage of their earnings to get on the property ladder.
Recent research by property site Zoopla found that 42 per cent of adults under 40 who do not already own homes have given up, due to the astronomical cost of buying a property.
This included 38 per cent of people earning over £60,000 (almost double the average salary for the UK).