According to Precious, she spent about $35,000 on the project, which included structural and material costs, labor, and the prefabricated shed structure. Rather than taking out a bank loan, she put $20,000 on credit cards and cashed out $8,500 in stocks. Her income from the main house allowed her to pay off the debt in 2022.
Today, Precious is able to bring in almost $32,000 in gross rental income by charging between $89 and $129 per night and $1,300 for monthly leases. She claims the tiny home has given her a “ton of real estate options,” including rental income and backup housing for herself and family members.
Although living in a tiny home has required Precious to downsize her wardrobe and shoe collection, she still stores some of her clothes at a friend’s house for a wardrobe swap every few weeks. Precious reports that all of her monthly associated costs for both homes total $1,580, which is covered by the $2,725 she makes from renting out the main house, enabling her to live in her tiny home for free.
