The real estate market has recently been a tough one for prospective home owners, with their dream house seeming to be drifting further away from reach.
The Federal Reserve’s interest rate hikes have made taking out a mortgage more and more unattainable. Renting a place is not the cheapest choice either, with typical asking rents now at $2,018.
These factors have made both owning and renting a home prohibitive, which is probably why Home Depot’s little prefab houses caused the commotion that they did.
The store is offering prefabricated homes that sell from a low of $4,000 to more than $40,000.
READ ALSO: Wall Street builds its presence in the US housing market
Home Depot’s prefab houses: A mini-getaway
A Twitter user posted an image of one such tiny house on the platform and asked for opinions on the one-bedroom, one-bathroom 540 square-foot house, and the tweet has more than 15 million views as of this writing.
The product is described to be designed to give some additional space outside of your home. The sample image, which features the unit called “Getaway Pad” shows a livable house with a deck and stairs. However, if you just have a small piece of land, you could use it as your main residence.
If you do buy the unit, the kit only come with a steel frame and the components you would need to assemble the item. According to the company that makes the houses, PLUS 1 Homes, the structures are low maintenance, are fire resistant, and are not affected by rodents or insects.
READ ALSO: Allstate and State Farm stop selling property insurance in California
Decide how tiny you want to go
There’s a wide range of frame kits, from as small as 96 square feet up to 3,000 square feet. You can upgrade whatever model you choose.
Once you’ve got the basic structure, you can buy the finishings at Home Depot to suit your needs and taste. If you’re an expert at assembling IKEA furniture at home and are somewhat handy with tools, putting together a tiny house could be a personal project.
But if you’re not talented when it comes to assembly, the company can help hook you up with construction companies in your area.
- Home Improvement Retailers Are Still Winning With Analysts, to an Extent
- Why I Will Never Own Lowe's or Home Depot Stock
- Local women to open new home decor store in West Acres - InForum
- If You Have This Piece of Home Decor, "Destroy" It, Officials Warn
- Downtown Oshkosh's iconic Exclusive Co. building to become a furniture store this fall