In recent years, tiny homes have become increasingly popular with buyers. These compact residences come in a range of sizes and styles. Arguably, one of the most appealing aspects of these unique properties is that they usually cost far less than traditional single-family homes. That’s not to suggest that a lower price will mean having to sacrifice style and high-end quality. There are properties in this category that are designed with the finest materials and luxury details. Here are some of the latest developments in Arizona’s tiny home real estate market.
Additional Dwelling Units (ADUs)
According to a recent article, the restrictions on Additional Dwelling Units (ADUs) have eased, making it easier for homeowners to set up smaller secondary properties in their backyards. These homes can vary in size from approximately 220 square feet to 1000 square feet. Some properties have single bedrooms, while others have multiple sleeping areas. The studios usually come complete with a kitchen and a bathroom. Some states have limits on the permissible size for these dwellings. Ordinarily, the second living space on your property is not allowed to be larger than your main home. According to a recent report, some U.S. cities have relaxed regulations and lowered fees related to ADUs or “granny flats” so that homeowners can provide supplemental housing.
In Phoenix, area-based developer Linked Equipment uses shipping containers to create affordable homes in small, medium, and large sizes for clients. With home prices starting at $45,000, buyers work with a design specialist to customize their homes according to their color and space preferences. The buyer is responsible for determining any local restrictions for the property. Linked Equipment then designs the house according to local requirements and the buyer’s specifications and then delivers it to the site.
According to the company, Linked Equipment builds according to the highest industrial, mechanical, structural, electrical, safety, and fire standards. The company prides itself on creating a home that feels secure for its buyers. Company president Mark Pike said, “Quality is our differentiator,” and that Linked Equipment uses “better materials, and we do not skip steps when it comes to safety. I would like to think that our buildings are built the same, or better than most of the commercial buildings we visit.”
Luxury Can Also Come in Small Packages
The small house movement has also attracted the attention of real estate investors in the high-end sector. According to a recent article, former Indiana University quarterback Zander Diamont and his business partner Jared Amzallag recently launched their Scottsdale-based company Den, which builds micro luxury homes. In addition to tiny homes, the company also makes standalone office spaces and gyms. These high-end accessory units sell for less than $100,000 and offer buyers the comfort and quality of luxury design in micro space.
Diamont and Amzallag have been highly successful in their real estate ventures in California and have now launched their Arizona long-term multiunit project. After moving to Scottsdale, Diamont developed 16 townhomes in the Central Avenue Corridor of Phoenix. Seeing the need for tiny homes in the area, the developers launched DEN. In just five weeks, they had five contracts to build different versions of their product, and they are getting calls and emails daily about creating more.
Den’s office space “The Work Den” is priced at approximately $45,000 and is 200 square feet. The smaller version of the Work Den is 100 square feet and is priced at $38,000. “The Live Den” is a 500-square foot home priced at $98,000. Its “Sweat Den” is a 250 square foot luxury gym with a full bathroom, padded floors, and steam room for $66,000.
Laura B. Bramnick is an experienced Arizona real estate attorney who can help you manage all aspects of your Arizona real estate matter. If you are seeking an exceptional, client-driven real estate lawyer in Scottsdale, Phoenix, Sedona, and throughout the State of Arizona, contact Laura B. Bramnick to schedule your consultation.