Many seniors are opting for an interesting route in their retirement years – using their money to purchase tiny homes! A survey in 2015 revealed that around a third of all tiny homeowners were seniors aged between 51 and 70, leading manufacturers to start developing more mini homes that cater to older individuals.
Take Bette Presley for example. In 2013, she decided to sell her property so that she could invest in a mobile home for travelling around the country. Rather than go for the traditional RV, the then 72-year-old decided to go for a tiny home instead.
The result was a 166-square-foot cabin that she can easily move from location to location. As she gets her power from solar panels, she essentially lives off the grid, going where she pleases while still enjoy the comforts of home.
Shirley Louiselle is another example of an elderly individual looking to change her living situation. For her, it was less about living on the open road and more so about downsizing her property into something more suitable.
She ended up with a 240-square-foot miniature home built specifically for her by her grandson. This even inspired him to start up his very own business that specialises in the construction of smaller homes for elderly residents. Each home comes custom-made for seniors, with lower cupboards, wheelchair access, and toilets that are designed to make life easier for the homeowner.
Other companies are taking note of this trend and beginning to tailor their businesses for this increasing demographic. For instance, MEDCottage develop smaller homes that are marketed as a great alternative to assisted living; they can be installed on land or as mobile RVs.
It’s a great way to capitalise on a growing market, and it will be interesting to see how many elderly people in the future will consider downsizing into these tiny homes.
Watch Shirley Louiselle talk about the tiny home her grandson built for her.