Tiny homes are all the rage these days, but are they right for retirees? It’s easy to assume the answer is no. The idea of spending retirement in a house the size of a backyard shed can take the luster out of “golden years.”
But a tiny home can be a good choice for some retirees. For starters, it’s cheap compared to a traditional house. Utility costs are lower, and you should be able to afford one outright. That means retiring mortgage-free. Tiny homes are also easier to maintain. You’ll spend less time cleaning and more time relaxing.
If you do choose to go the tiny-home route, it’s important to pick one with retiree-friendly features. Insist on a bed on the main level – no steps or ladders to sleeping lofts. Also opt for a full bath, ideally with grab bars and a wide shower. Storage should be easily accessible.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
See more reason to retire in a tiny house.
-
Should You Rent in Retirement?Making Your Money Last Renting isn't right for all retirees, but it does offer flexibility and it frees up cash.
-
How to Achieve Your 2022 New Year's ResolutionsBrandon Copeland You've already made your New Year's resolutions. Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland explains how you can stick with them and accomplish them.
-
Santa's End-of-the-Year Finance TipsBrandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland shares a few ways you can improve your finances before 2022 gets here.
-
First Apartment Checklist: Make the Most of Your SearchBrandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland discusses key factors to consider when searching for an apartment.
-
The "Real" Cost of Buying a HomeBrandon Copeland Atlanta Falcons linebacker and Kiplinger contributing editor Brandon Copeland discusses the laundry list of extra costs involved in buying a home.
-
4 Things Home Buyers Will Hate About Your Housereal estate Know what could kill a sale before it does.
-
Where to Retire in Florida
retirement Some cities in the Sunshine State are better suited for retirees than others.
-
3 Better Investments Than Powerball
savings Buying Powerball and Mega Millions tickets is no substitute for sound financial planning.
