May 17, 2019
Talk about downsizing! Today, tiny homes—small structures between 180 square feet and 500 square feet in size—have become a housing solution for people who cannot (or don’t want to) pay high rents or mortgage costs, would prefer not to spend their time cleaning large interiors, or would like to take their dwellings with them to their travel destinations. But they also are increasingly in demand by wealthy buyers who want to customize their properties with a yoga studio, a pool house, or a home office, according to a report by Business Insider
And that’s the industry niche being occupied by Allwood, a family company based in Palm Beach Gardens, Florida. The company is marketing a variety of tiny house kits—from 73 square feet to 227 square feet, and in a price range from about $3,000 to $10,000.
They are sold as DIY kits that can be assembled in your backyard (or even on a rooftop). In fact, the site says, the Allwood Claudia—“a high-quality cottage-style wood cabin kit made of solid Nordic spruce”with windows on three walls and 209 square feet of inside floor space—takes just about eight hours to two adults to assemble. Do-it-yourself step-by-step instructions come with the kit. Only minimal tools are needed.
Capitalizing on the trend, Amazon is even selling a $7,250 kit for a tiny studio from the company called the Allwood Solvalla that has a total of 172 square feet of floor space (86 square of it, covered) and that sells for $7,250 with free shipping. “Ideal home office or guest house,” the description says—but no working bathroom or kitchen is included. Allwood makes other models that include these amenities.
While tiny homes are often mobile, Allwood’s studio is meant to stay firmly rooted outdoors. It can also be taken apart and reassembled in new locations.
What’s more, Business Insider points out, “Those who want to transform it into a fully functioning home or guest house will need to install their own electricity and air conditioning, which could increase the cost by thousands of dollars. Buyers will also need to purchase shingles and a foundation, which cost an extra $320, according to the company.”
After launching the model in 2018, Allwood said its goal was to sell 250 kits by the end of the year. Thus far, the studio has only two customer reviews on Amazon — one praising the price point and another considering it a rip-off.
It all depends on your perspective. If you have the money, it could even be a children’s playhouse.
Research contact: @businessinsider