Tiny homes are rapidly becoming all the rage! Are there any long-term drawbacks or structural liabilities that buyers should be aware of before they commit to downsizing?

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I've built and planned a couple of them. If properly executed a tiny home is just as structurally sound as any other home.
Depending on your planned usage, there can be drawbacks, one surely being space if you want to extend your family or old age, as the limited space might not allow for stairlifts/ elevators to make the unit accessible (depending on layout and overall size).
Not sure where you are located, but if you are in a city make sure that there is access for a firetruck and you are close to a hydrant. I recently had a major cost increase on a project because I had to add a commercial grade sprinkler system for safety reasons.

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