Downsizing can help owners cut costs, particularly homeowners’ insurance. Downsizing from a full-sized home to a tiny home—often 400 square feet or less—could save homeowners 52% a year on the cost of insurance alone, according to a new study from ValuePenguin.
Even in the most expensive states to insure a tiny home—like Oklahoma—homeowners could save more than 68% in buying coverage for their home than on a standard-size, 2,100-square-foot home, the study finds.
View the chart below to see the breakdown of the average costs to insure a tiny home and how much cheaper it is compared to a standard-size home.
National Association of REALTORS® Reprinted with permission
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