Sorry for the long backstory; just think it's necessary to get accurate feedback.
My son, currently living at home, just recently graduated from college and landed a very solid job with a stable company, working remotely. We're extremely proud of him. He earned it with hard work.
He and his fiancee are starting to look at rental properties in our area. Pickings are slim in the nearby small towns. If they go to one of the small cities within a 45 minute drive (Gainesville, GA to the south, Anderson, SC to the north), there are many more choices. Pricier, and some iffy neighborhoods the wife and I would not love to see them living in.
We have plenty of acreage with numerous potential home sites, although 75% of our property is in conservation status until 2024. We've always told him, if he ever wanted to build a house on the land, we would help in any way we could. He's open to that. One possibility is building/buying some type of tiny home to put on the property; not a trailer mounted tiny house, but something built on skids, like a 14x40 shed that many people seem to be repurposing for something like this. My back-of-the-envelope estimations suggest a 500 to 600 sq foot building, set up as a 1 bed/1 bath, could be nicely finished for about $40K, including plumbing, HVAC, septic, electrical and fixtures.
We have no zoning restrictions. If we did it in reasonable proximity to our current residence, we could skip digging a separate well. They could use our Internet access (something he needs for his job; we have excellent 1Gbps fiber service). Electricity install would be relatively cheap because of the established power lines on our property. In other words, there are a bunch of fiscal advantages to making a living solution here.
Downsides we readily acknowledge: Less independence from us. Also, they'd be building equity in something that exists on our land. If they left, we'd very likely never rent it to anyone else; certainly not a stranger. We value our privacy. We expect to leave this place to him (he's our only child); barring a financial disaster that forces us to sell, all of the property will be his someday. Any property improvements theoretically benefit him in the long run.
We could also just wait until 2024, and carve off a piece of land on the other side of our property, for him to build a genuine, stick built starter house on. More independent solution for them. They'll have spent about $35K tp $50K on rent between now and then, if they rent until then.
So: Thoughts on tiny homes for this type of solution? What haven't I considered? What are the challenges involved with tiny house type solutions? Thanks in advance for the comments!
My son, currently living at home, just recently graduated from college and landed a very solid job with a stable company, working remotely. We're extremely proud of him. He earned it with hard work.
He and his fiancee are starting to look at rental properties in our area. Pickings are slim in the nearby small towns. If they go to one of the small cities within a 45 minute drive (Gainesville, GA to the south, Anderson, SC to the north), there are many more choices. Pricier, and some iffy neighborhoods the wife and I would not love to see them living in.
We have plenty of acreage with numerous potential home sites, although 75% of our property is in conservation status until 2024. We've always told him, if he ever wanted to build a house on the land, we would help in any way we could. He's open to that. One possibility is building/buying some type of tiny home to put on the property; not a trailer mounted tiny house, but something built on skids, like a 14x40 shed that many people seem to be repurposing for something like this. My back-of-the-envelope estimations suggest a 500 to 600 sq foot building, set up as a 1 bed/1 bath, could be nicely finished for about $40K, including plumbing, HVAC, septic, electrical and fixtures.
We have no zoning restrictions. If we did it in reasonable proximity to our current residence, we could skip digging a separate well. They could use our Internet access (something he needs for his job; we have excellent 1Gbps fiber service). Electricity install would be relatively cheap because of the established power lines on our property. In other words, there are a bunch of fiscal advantages to making a living solution here.
Downsides we readily acknowledge: Less independence from us. Also, they'd be building equity in something that exists on our land. If they left, we'd very likely never rent it to anyone else; certainly not a stranger. We value our privacy. We expect to leave this place to him (he's our only child); barring a financial disaster that forces us to sell, all of the property will be his someday. Any property improvements theoretically benefit him in the long run.
We could also just wait until 2024, and carve off a piece of land on the other side of our property, for him to build a genuine, stick built starter house on. More independent solution for them. They'll have spent about $35K tp $50K on rent between now and then, if they rent until then.
So: Thoughts on tiny homes for this type of solution? What haven't I considered? What are the challenges involved with tiny house type solutions? Thanks in advance for the comments!
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