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Home Depot is selling a range of tiny homes for less than $50,000 – but buyers will have to be prepared to build it themselves.
As mortgage rates and rents sky-rocket, Americans are increasingly turning to creative ways to get on the property ladder.
On TikTok, the so-called ‘tiny home’ movement has exploded in popularity with hundreds of users purporting the values of their mortgage-free lifestyles.
Now Home Depot is selling a whole host of pre-fabricated, one-bedroom homes for anywhere between $4,000 and $40,000.
It falls well below the average cost of a property in the US which is now $339,048, according to property website Zillow.
A 366-square-foot ‘Sea Breeze’ home is currently listed on Home Depot’s website for $23, 592, pictured
The ‘kit’ comes with a steel structure and the components to assemble them and is delivered to a customer’s door
The online listing boasts that the structure is made from ‘high-quality steel to ensure durable use’ and is ‘termite and shrink-proof’
On its website, the retailer describes the products as ‘architecturally designed to provide extra-space outside of your home for personal use.’
However, social media users have commented that the buildings could suffice as a home themselves.
A 366-square-foot ‘Sea Breeze’ building is currently listed on Home Depot’s website for $23,592.
The ‘kit’ comes with a steel structure and the components to assemble them and is delivered to a customer’s door.
But while the advert shows fully decked out and stylish interiors, it does not include doors, windows, or finishes.
These add-ons would instead have to be purchased separately through Home Depot.
Buyers would also be responsible for installing the plumbing and electricals to turn it into a fully functional home.
The online listing boasts that the structure – which is manufactured by design company Plus 1 – is made from ‘high-quality steel to ensure durable use’ and is ‘termite and shrink-proof.’
Another home is advertised as a ‘Rose Cottage Tiny Small Home Steel Frame’ and comes with two bedrooms. The 444-square-foot offering will set buyers back $31,887.
The 444-square-foot ‘Rose Cottage’ will set buyers back $31,887
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The home is also constructed by design firm Plus1
A floorplan of the property shows one bedroom on the first floor and another upstairs
Home Depot is selling a whole host of pre-fabricated, one-bedroom homes for anywhere between $4,000 and $40,000
Its pictures show a spiral staircase leading down into a kitchen and dining room with grey and white interiors.
A floorplan of the property shows one bedroom on the first floor and another upstairs.
Meanwhile another one-bedroom structure – described as a ‘Cabin Guest House Home Office’ – is listed on the website for as little as $15,000.
The retailer also sells a ‘deluxe multi-purpose wood shed’ listed for around $4,000 – which comes with doors and windows.
A Twitter user shared one $43,000 tiny home advert from Home Depot alongside the caption: ‘Home Depot offering a 1 bed, 1 bath 540sq ft prefab house for 44k. Thoughts?’
The post attracted 35,000 likes, with one user replying: ‘Getting off the grid might be easier than ever.’
The idea of creating ‘tiny homes’ has been floated in several states as a way to quickly and affordably house residents at scale.
Earlier this year California Governor Gavin Newsom announced he a $30million project to build 1,200 small homes in his state this year.
Separate research by Refin found that only four metro areas in the country have average mortgage prices that are lower than average rents
And in April, developers unveiled a 3-D printed ‘tiny home’ made from fully recyclable materials, claiming it could solve America’s growing housing crisis.
It comes as Americans face an uphill battle to get on the property ladder as red-hot inflation hammers young people’s savings.
What’s more, mortgage rates climbed to their highest level since mid-March last week as the average30-year fixed loan rose to 6.57 percent.
Separate figures also show that rent increases are outpacing incomes across the country.
Average rents have risen by 134.9 percent since 1999, while incomes have gone up by 76.8 percent in the same period, data from Moody’s Analytics reveals.
Source: | This article originally belongs to Dailymail.co.uk
