Financing

Buying a Tiny House: Financing for your Tiny House

Many people think that a Tiny House is cheap. But buying a Tiny House quickly costs €60,000 if you have it built! Not everyone has that readily available in their bank account. Fortunately, there are still options.

Below you will find a summary of the article ‘Mortgage for your Tiny House'. You can read the complete article onlekkerlevenmetminder.nl

1. A mortgage

A mortgage is only possible if your Tiny House meets thebuilding regulationsis fully anchored to the groundand you are the owner of the land on which your Tiny House stands. Then we are talking about real estate and you can register in the is én je de eigenaar van de grond bent waar je Tiny House op staat. Dan praat je over onroerend goed en kan je je inschrijven in de Basic Registration of Persons (BRP). This way, the possibility of a mortgage can be explored.

For a Tiny House with wheels, this is difficult because it is not anchored to the ground, but for Tiny Houses without wheels, there are certainlypossibilitiesfor this. More and more banks are aware of the Tiny House movement and support it. An example of this is theGreen Mortgage.

But for the pioneers among us with a Tiny House in a temporary location, unfortunately, you cannot (yet) get a mortgage.

2. Overdraft credit

With an overdraft credit, you can withdraw money up to a certain amount. You only pay interest on the amount you withdraw, and you can repay it without limit. Please note that this has a variable interest rate.

You can check the possibilities for you on the website ofgeld.nl.

3. Personal loan

You can also save part and borrow part. Do keep in mind that with a personal loan, you pay a high interest rate. On the other hand, you also save a lot each month if you live in a Tiny House, so perhaps you can thenrepay quickly. The sooner you can repay, the better.

With thiscalculatoryou can calculate what suits your situation better: a personal loan or a revolving credit.

Via the website ofcurrent interest ratesyou can compare both the providers of revolving credit and personal loans.

Ahandy websitefor an overview of various financing options for your Tiny House is theTiny House Guide.They have mapped everything out clearly. You can see at a glance what works best for you.

4. Borrowing from family or friends

If you want to buy a Tiny House, you could, if possible, take out a loan from wealthy friends or family members. ALWAYS ensure veryclear agreementsand a contract.

Click here for information from the tax office about what should be included in a loan.

Click here for tips on private loans or view an example of a valid loan contract.

On this page you will find extensive information about the loan contract you can draw up with family.

5. Saving

When it comes to saving, you can also think of:earning extra money. Since you need to minimise, you could for example hold a garage sale or sell items via marketplace 😉.

Challenge yourself and find 10 ways with which you can earn extra money. You will be amazed at what is possible!

Do you find that difficult? Then see if you can get some inspiration from this page Where there’s a will, there’s a way!

Another idea you can consider is to pay for your Tiny House in instalments. That way, you can build and save at the same time.

6. Creative alternatives

If you type 'mortgage-free living Tiny House' into Google, you will find all sorts of videos that provide you with ideas and inspiration for living mortgage-free. You can find even more creative solutions if you simply type 'mortgage-free living' into, for example, YouTube.

Where there’s a will, there’s a way!

So there are quite a few possibilities. Moreover, people who want to live in a Tiny House have one big advantage: they go 100% for their goal, are often creative, and think outside the box! These are very important qualities when it comes to finding financing.

In other words; where there’s a will, there’s a way.You will definitely succeed!👍💪

Thanks to Adine from lekkerlevenmetminder.nl.