This 420-square-foot studio in Manhattan can transform into five different rooms and is on the market for just under $1 million.” – CNN Money
See more of The $1 million foldable apartment – Video.
All Joking aside… $1 Million is an insane price for any tiny home; it kind of defeats the whole purpose of extreme downsizing.
On a positive note, this story also shows that the assumption that tiny homes bring down neighborhood home values may be wrong. First they are in a class by themselves and not comparable to larger homes – and efficient compact designs often take more thought and careful engineering to implement – hence the typically higher cost per square foot for tiny homes. But temper that with the knowledge that many tiny home owners find themselves living mortgage free faster than owners of normal homes.
I will begin by saying that I am totally pro Tiny Houses. That is my dream and my end goal. But, I find the title a bit deceiving. New York city real estate is not the common denominator for tiny houses. Plus the content of this apartment is not either. The extendable dining table begins at around $3950, about 16% of the average tiny house cost (which many say its around $25,000). Plus the murphy bed, the twin beds, the rolling wall, the kitchen, the……. That is what makes this apartment so expensive.
For those of us who are not too mathematical this can lead some of us to believe that a tiny house is out of our reach or on the flip side it can make us think we will have something to rely on much more valuable than it really is. I don’t know if I have explained myself well or not. I just feel this is a bad comparison and it is a comparison: “For Those Worried That Tiny Homes Reduce Neighborhood Real Estate Values… This One May Sell for $1 Million”.
I agree- totally misleading article.