New tiny houses – the two bedroom models – can be built for just over $50,000.  Or if you’re talking a 30-year mortgage at today’s rates … $250 p/month for a house payment. Sounds tempting, doesn’t it?  Here’s a house that was built for about $10,000!

“I sold my big house and got rid of most of my stuff, limiting myself to about 300 things — that was everything from heels and a toothbrush, to a couple of dinner plates and a two-ton jack. I then bought a set of plans from Tumbleweed. Four months later I had my tiny dream house.”

Some caveats.

1.  It’s hard to limit yourself to just 300 items when you’re used to living in a McMansion.
2.  Many lenders won’t bend over backwards on loans for $10,000 to $60,000.  They make more money on the $120,000 and up loans so will do just what they need to do. Don’t expect any concessions on closing costs.

But for $250 p/month (or less!) – and if you’re not claustrophobic – this could be ideal in today’s economic climate.

Photo by Tumbleweed Tiny House Company.