One big plus is the corresponding tiny cost of home ownership. A 300-square-foot (28-square-meter) home clearly costs less to heat, cool and light than a sprawling, 3,400-square-foot (316-square-meter) McMansion. Even better is the possibility of living in a home sans mortgage. Many tiny homes cost the same, or less, than the typical down-payment on a larger pad. Yet small doesn't necessarily mean modest. Putting down granite countertops or hardwood floors in a tiny home is a very different proposition than putting them in a spacious mansion.
But it's not all about the bottom line. Many tiny-home enthusiasts are looking to leave a smaller footprint on the environment, which is easily achieved by living in a home that's smaller than many people's master bedroom. A small home also means less time spent cleaning and doing household repairs, so there's more time to laze around, travel, read, watch TV and visit family and friends.
Tiny-home dwellers often cite the increased intimacy achieved by living in a small space, too. No kids scattering to their respective bedrooms, never to be seen until mealtime. Interaction happens frequently and regularly. And if you have to move for a job — or just want to do some extended travel — you can take your house with you [sources: Levin, Miller].