Once you read past all the articles about COVID-19 and the physical effects, hidden in there are some of the financial effects it has had on a massive number of the worlds population.
The one thing, hopefully, people have realised because of this pandemic is you need to have some kind of nest egg to see you through. This could easily happen again, do you have a new life plan/ financial moving forward?
Amazon specifically, and I'm sure eBay by similarity of sales are seeing an increase in their sections of tiny home sales.
The question is are people building them, and moving into them to reduce their monthly outgoings to create a nest egg from savings because of smaller monthly outgoings?
Or, possibly using them to create income? If you are in the position to have an additional small home on your property it could create a nice annual residual income.
And now so many people and companies have realised working from home is a reality, you could in theory put that home anywhere.
We aren't talking about a glorified garden shed here. A quick search on Amazon landed me a on a home for $119,000 pictured featured below. Its less than 800 sqft so maybe too small for a lot of people and certainly not good for a family.
The search continued for a reasonable size home, a little less than 1400 sqft for $64,000 also on Amazon.
Hop over to eBay and tiny homes there top out at $165,000
The obvious caveat with doing this is you also need to buy the land too, but if you are lucky to have a job that you can do remotely now, then your immediate local area isn't where you need to search, now you can search the whole country, or maybe the world
When I write this I think of a friend who told me his sister lives in Manhattan and pays $4500 a month for a 600 sqft apartment. She now works from home until told otherwise, would she and others like her be candidates for this type of home, or are they already in the process of buying and/ or building.
The world is obviously changing, if you were to do it all again would you be so heavily invested in real estate, or look for a cheaper cost of living or a way to add residual income to get you out of the rat race sooner?
Other conversations about topics similar to this you might like to read also on Cake