A few resources and a little creativity are all you need to help you slash a large chunk of your expenses.
This is what a woman from Atlanta, Georgia did when she realized she had a good space in her backyard.
Precious Price bought a 1,400-square-foot, three-bedroom house in Atlanta, Georgia, for $196,000.
She rented out the extra bedrooms on Airbnb to earn extra cash as her work often requires her to travel.
However, in the early days of the pandemic in 2020, her business started to go slow because guests didn’t want to share a house with a stranger.
Moreover, she also stopped traveling for work.
“I was living alone in a house that felt too big,” she said.
Meanwhile, in May of the same year, while looking at her backyard through her kitchen window, she realized that she could build a tiny house and live there, then fully rent out her main home.
So, she submitted all the necessary permits to the city planning office and bought a shed and hired a local contracting firm to work on the concrete slab foundation, NBC Boston noted.
They started building the 296-square-foot tiny house in October 2020 and finished it by March the following year.
The tiny house cost her $35,000, including the prefabricated shed structure, materials, and labor costs.
Precious said that instead of taking a bank loan, she put around $20,000 on her credit cards and cashed out $8,000 in stocks to pay for everything.
She was able to pay off her debt the following year.
“While the house was being built, I rented out my primary home and rented a room from my neighbor for $300 a month,” she said.
After they finished building the tiny house, Precious rented it to Airbnb for a while to recoup the expenses.
She earned around $32,000 by charging $89 to $129 a night and $1,300 monthly leases.
Precious moved to her tiny home last month and was able to cut a large chunk of her expenses.
Her expenses for both houses’ electricity, water, internet, mortgage, and property taxes cost $1580.
Meanwhile. she’s making $2,725 a month by renting out the main house, allowing her to live in her tiny home for free.
She calls her tiny house “The Cove Escape.”
Going inside, you will immediately be in the lounge area with a day bed where you can comfortably sleep if you don’t want to sleep in the loft bedroom.
The lounge also has a tiny table where you can eat if you want to use something other than the nook.
The tiny house has a Pioneer remote-controlled mini split air conditioner for cooling and heating.
She said that her tiny home is like a haven because it’s tucked in her backyard where she isn’t seeing many people and traffic.
The closet is next to the day bed, where she keeps extra linens and toilet paper.
It has some racks and space where you can hang your clothes.
From the lounge area is the TV that swivels out, so you can watch while on the lounge or while cooking in the kitchen.
Underneath the TV is the breakfast or kitchen nook where two people can eat next to the window and enjoy the view outside.
Sitting next to the nook is a full-size fridge with enough space for many foods.
Going further to the kitchen is some more counter space, an induction cooktop, and a microwave oven.
Underneath the counter are cabinets where she stores appliances like a coffee maker, food processors, and juicers.
It also has drawers where she keeps stuff like vitamin supplements, teas, spices, and others for easy access.
The kitchen has a full-size sink, and its water heater is under it, which heats water in both the kitchen and bathroom.
At the left side of the kitchen is a large barn door, which she stained, separating the kitchen and the bathroom.
Turning the lights in the bathroom will also turn the fans on, giving the space good ventilation.
The bathroom has a sink, a full mirror with good lighting, and a flush toilet.
Across from the toilet is the shower with two-way sliding glass doors.
Precious said her original plan was to use a container for her tiny home.
However, she realized it was impossible to bring the container into her backyard because of her main house’s setup, and the large truck that delivers the container won’t fit back there.
Then, she discovered she could turn a shed into a tiny home.
In 2021, she officially quit her six-figure corporate job and started making more money doing her business.
By December of that year, she already had eight units across Atlanta. She has six apartments and another house near her main home.
Her tiny home has given her a lot of real estate options, which include rental income and backup housing for her and her family.
Meanwhile, she realized that listing her properties for short-term takeaway space for people who need long-term accommodation, so she started renting to low-income workers and local students.
She plans to add an attached guest suite to her main house and offer more stable housing.
“This year, I’m excited to fully experience the tiny home lifestyle for myself. It’s amazing what you can do with a bit of backyard space.”
Know more about Precious by following her on her Instagram, and take a tour on her luxurious backyard shed tiny house by watching the video below.
If you want to see more amazing tiny homes, visit Tiny Home Tours on YouTube.
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