We associate large bank accounts with living large but as it turns out, that isn’t always true…
2019 saw the rise of the tiny houses movement, and in 2020, it looks like this new lifestyle trend isn’t going anywhere. From multimillion-dollar business owners to big screen celebrities, we think you’d be surprised to see who’s adopted this minimalist way of living. Would you have guessed these people would be on our tiny houses list?
Business mogul Warren Buffet
If you were worth a whopping US $82 billion, you could probably have a different mansion for each day of the week. Not Mr Buffet though. This billionaire still lives in the same home he bought for US $31,000 back in 1958! His living space is 6,570 square feet, with 5 bedrooms and 2 ½ bathrooms. This surely isn’t the property we pictured Warren Buffet coming home to, but his modest living does allow him to spend his money elsewhere.
CEO Tony Hsieh and his tiny house
When you think of someone having a net worth of US $850 million, we are almost 100% certain that a 240-square-foot Airstream trailer doesn't come to mind. Except, in Tony Hsieh's case, that's exactly his living situation as he takes the idea of a tiny house to another level. During a podcast interview in 2017, Zappos CEO said he genuinely enjoys living in a trailer park.
“I just love it because there’s so many random, amazing things that happen around the campfire at night". When he’s at home he thinks “of it as the world’s largest living room.”
Billionaire Chuck Feeney who doesn't own a home at all
The co-founder of Duty Free Shoppers Group, is worth more than a billion dollars but he hasn't touched his money to live lavishly or to buy a home. Instead, he's already donated US $8 billion to philanthropic causes and has kept a mere US $2 million for himself.
We can picture real estate moguls shaking their heads in disbelief, but according to The New York Times, Chuck Feeney doesn't own a home at all - he rents an apartment in San Francisco to keep expenses low. Many people believe that real estate is a great way to build your net worth, but not this billionaire!
Why people are loving the tiny house movement
- The art of letting go: we all have that one room or chair in our house that's stock-piled with odds and ends. When you're living in a tiny house you simply do not have the space for the smallest bit of clutter. People have said they are now saving more money every month because they don't buy unnecessary clothing, shoes or home decor.
- Great freedom: buying a home often means you’re tied to the house and the neighbourhood until it’s all paid up. Not with tiny houses. Most of these homeowners are completely mobile as they can pack up and go whenever the mood strikes. Often, owners can pick and choose jobs in any area because they can easily move there. Or, more often than not, they are freelancers who work on the go.
- They appreciate the small things in life: when you own less, your appreciation diverts to other areas of your life. A kitchen island or infinity pool has no value here, instead, owners of tiny houses find themselves swimming in the ocean and eating out with friends. They now appreciate the smaller things in life - nature, quality and me-time.
While the tiny house movement isn’t everyone’s cup of tea, it’s clear that it’s here to stay. Is this a lifestyle you would try if you won millions?