5 Ways to Fund Your Tiny House Build | Financing Your Build

I don’t know about you, but it’s super easy for me to fall victim to the romanticized portrayal of van life, tiny house living & other alternative ways of existing. Many of these social media accounts show the finer parts of tiny living without grounding into the reality that many of us don’t have the ability to invest 10s of thousands of dollars into a build, but how then do you actually afford a build?

1. Traditional Financing

   • For the Slacker 27 Special, Scott was able to finance the trailer through the company he purchased it from. This can be an easy way to conserve upfront costs for your tiny house build.

2. Personal Loans

   • Scott’s credit score has been anywhere from 740 to 625, but he’s been able to utilize personal loans throughout that credit spectrum. Upstart and So-Fi along with broad searches through Credit Karma can all be helpful starting points when considering personal loans for your build.

3. Credit Cards

   • While credit cards may not be the first place you’d hope to find funding for your tiny house, it shouldn’t be discounted as an option. Sometimes credit limits can be increased. There’s even credit cards that have financial assistance programs. Look into the opportunities presented by your credit card company.

4. Whole Life Insurance Policy

   • Do you have a whole life insurance policy? First of all, congratulations on being a very responsible adult. Second, did you know you can borrow money from yourself? You’ll have to pay yourself back with interest, but wouldn’t you rather pay yourself back after all?

5. Cash as you can & take advantage of salvaged materials

   • While the piece meal method can create a much lengthier build process, it’s still the most cost effective method that doesn’t leave you with debt pay off. Also! If you have the time, peruse through FaceBook Marketplace and Craigslist for free or salvaged material opportunities.

You may not have the same risk tolerance as Scott, but weighing the pros and cons of these different methods can help you find the level of thrifty that’s right for you!