Housing is a critical aspect of any financial plan. Many alternatives have become more popular in the last 10 years: nomad (digital nomads etc.), tiny houses, mobile living (RVs, vans…), etc.. I think such housing alternatives are important and should be given more consideration by more people.
As these options become more popular they begin to be used in specialized ways. As I have written previously I think multi-generation housing is an interesting concept that deserves more attention. It is not a new idea but in many countries (such as the USA) it has gone out of favor but it may well come back into favor, I believe.
One recent trend combines multi-generational living and tiny housing into tiny houses in a backyard for grandparents.
The 12×24-foot prefabricated house starts at $85,000 โ less than the cost of traditional long-term elder care โ and includes innovative safety features like webcams and cushioned floors that allow the family member privacy and the caregiver freedom.
‘Granny Pods’ Help Keep Portland Affordable
Seattle, Austin, Washington, D.C., and San Francisco also recently made it easier to add a second unit or granny flat.
These Accessory Dwelling Units (ADU) require zoning flexibility in most places (in the USA at least, I am not sure about zoning issues globally). Hopefully more localities will create options to allow more flexibility.
MEDCottages will be fully assembled at a manufacturing facility and trucked to a site to be plugged in, like a recreational vehicle, to the electrical and mechanical systems of an existing home by a local contractor.
Related: Tiny Homes are a Great Alternative – Housing Savings by Living as a Nomad – Financial Independence Retire Early (FIRE) and Location Independent Working