Yahoo Finance 'Homeownership is finally achievable': Home Depot now sells DIY tiny home kits for under $50K — some even come with spiral staircases. But is it a real solution to the housing crisis?
Browsing the aisles of Home Depot, you’re likely to find everything you need for your home, whether that be paint or a patio umbrella.
And now, the home improvement retailer will even sell you the home itself.
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The Home Depot is now selling tiny home kits that range in price from $4,000 to $40,000.
One 540-square-foot “getaway pad” by home-kit manufacturing company Plus 1 features a roof deck and spiral staircase and is listed for $43,832. That model has gone viral on social media with users debating whether the tiny home could offer an affordable solution to the housing crisis.
“It's definitely not for everyone but I can see why a younger person who is living alone would live here — most people will pay that amount in 2-3yrs if they rent; why not put money into something you can own,” writes wealth management adviser Soo Schreiber on Twitter.
But others expressed skepticism. Despite the seemingly modest listing price — compared to steep real estate values and mortgage rates across the U.S. — there are plenty of additional costs DIYers might not realize until they’re knee-deep in the project.
“Homeownership is finally achievable,” tweeted NBC news reporter Ben Collins. “Now all I need is land, skills, building materials, three contractors, a plumber, an electrician, about a month off work, patience, friends, and $44,000.”
Here’s what’s included in Home Depot’s tiny home kits — and whether they’re truly as affordable as they seem.
What does the kit include?
Although the image on the website displays a fully furnished home, the kit only includes the steel frame and the necessary components for assembling.
The company notes the steel frame is fire resistant, corrosion resistant, recyclable and “not affected by termites, mold, rodents, or bugs.” It’s also apparently resilient to extreme weather and fires.
Outside of the steel frame and components, the home kit package price also includes the cost of delivery, preliminary design plans, engineering plans and framing calculations.
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What extra costs are involved?
Here’s the catch: Home Depot lists the tiny home kit as an accessory dwelling unit (ADU) and cabin guest house on its website. Like with any tiny home, this means you’re going to need some land first.
You could install the structure on an existing property like a backyard — if you have one. But before building, you’ll need to take the preliminary plans to your local authority to get a permit first.
Home service marketplace Angi estimates the average cost of a building permit is around $1,350, but this can vary depending on where you live. For example, if you’re building your tiny home in California, the permit could cost you between $10 to $12 per square foot. A 540-square-foot ADU will cost between $5,400 and $6,480.
As an upgrade option, you can get the deck and flooring system, but you’ll also need to buy things like doors, windows and finishes — not to mention furniture and decor.
Then there are the plumbing, electricity and HVAC costs — which could tack on thousands more to your total.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
