When it comes to investing in homes and property there are many people who wish they could go back in time and do things differently. Rather than regretting your decisions, it’s really all about smart investing from this point on.
This article provides an insight into various options which you should consider before investing your hard earned cash; alternatives like micro houses, tiny homes, mobile homes and mobile home parks, outbuildings and the like.
#1 – Mobile Homes & Mobile Home Parks
Mobile homes are seriously riding a rising trend at the moment, with many people seeing mobile homes as a great way to downsize and save themselves some cash, possibly even getting out of debt.
Savvy investors have been seeing the light too and have been investing heavily in mobile home parks. Michael Scott Mobile Homes is one such savvy home park investor, and there are many others.
If you’re looking to invest your money in property, then it’s really hard to go wrong with mobile home parks. You spread your risk over 100s of lots, and with so many tenants paying rent monthly, the cash flow potential is enormous.
#2 – Tiny Homes
The tiny house movement has been in full swing for a while now, attracting not only those looking to reduce their living expenses, but also people who are heavily into alternative lifestyles and a more sustainable existence.
Buying up tiny houses, or even getting involved in the manufacture of tiny homes, could make for a very sound investment opportunity, as compared to spending a fortune on one big investment property.
Some tiny house dwellers build their own homes, but many of them have their houses made to order or purchase an existing tiny house, so there are definitely some good possibilities in this market.
#3 – Micro Houses
This housing asset class is very much the same as the tiny home movement, except some of these houses are even tinier than tiny homes. Often suitable for people living alone, or couples who really don’t mind a lot of up close and personal time together, micro houses are currently a booming industry as well, so if you get into the manufacturing side or buying up ready made micro homes on wheels, there are definite profits to be made on both sales and rentals of these quaint little homes.
#4 – Shipping Container Homes
Houses built primarily from shipping containers (new or used) is also a booming trend across the globe right now.
Two major factors are pushing this trend:
- Shipping containers can reduce the build cost considerably
- Recycling used shipping containers and remodelling them into houses is a pretty cool way to help save the planet
Millions of unused cargo containers lay abandoned all around the world, so rather than have them end up in landfill, shipping containers make the perfect building blocks for both temporary and permanent housing.
In fact, many involved in the tiny house scene will build a small home out of a 20 foot shipping container and mount it on wheels so it’s mobile.
Investing in container homes, parks that house container homes, or even a factory that does container modifications is seriously worth looking into.
#5 – Outbuildings, Backyard Cottages and Granny Flats
Various outbuildings situated behind or on the same lot as a conventional house can also present some sound investment with a steady ROI from rental income. Whether you buy all structures on the property, or just the backyard cottage or granny flat, there is money to be made as so many renters are looking for affordable, self-contained housing of this nature.
Another option is if you own some conventional rental properties and have outbuildings built in the backyard of these properties. This provides you yet another avenue of income, as you can rent out the house and the outbuilding separately.
#6 – Tiny Apartments
A tiny and affordable dwelling doesn’t have to be a stand alone tiny house. It could be a tiny apartment, which works on the same concept as tiny homes – a very small space at budget friendly prices.
Tiny apartments are a trend that’s definitely on the rise, so buying up a block of tiny apartments is certainly worth considering as a good investment option.