For just $20,000 and a five-dollar Shipping fee, an unfoldable shipping container can be your dream home.
A recent trend on TikTok shows many young adults purchasing mobile foldable homes off of Amazon and turning them into a livable space as a cheaper alternative to buying a home or renting an apartment, but is it a viable option?
The concept of shippable homes has been around since the start of the 20th century, starting as pre-cut homes made from wood typically sold at lumber mills. These homes were shown in catalogues where people could pick out the model, shipped to them in a week, and then assembled like a giant Lego set.
In the modern era, the concept is somewhat similar except instead of assembling it piece by piece, it’s unfolded from a rectangle and set into place just after a few hours. The average size of these homes is around 400 sq ft – 600 sq ft, which is the size of a studio apartment.
Most come with a fully equipped bathroom and half kitchen alongside eclectic and water. It’s all too good to be true though to some extent. Of course, it’s an amazing opportunity to be able to own your own space but finding a plot of land to place it as well as your future makes it questionable.
Ken Judge, an economics professor from Fanshawe, says there are many pros and cons to living out of these mobile structures but must be thought out with logic.
“It all depends on what your situation is,” said Judge. “If you have a small home. and you’re going to invest, I would think about a more long-term and decide whether or not something on that side is going to be attainable or comfortable for you to live in because as a first-time home buyer, you don’t know how long you’re gonna stay there” he continued.
People need to consider what their future entails and where their path in life is taking them. Homes are investments and so are families when it comes to aspects of personal growth.
These dwellings make a great living quarter out of a condensed small space for a fraction of the price of a larger-sized home. But how much does someone need to make to maintain and upkeep these structures as time passes?
“ I look at it in two ways like what’s your income level and is one aspect and then to make it affordable or maintain it, does it fit within your budget” said Judge. if you’re looking just to be cost-effective then yes, it would probably work and fit within your budget and from another standpoint It could allow you to start saving towards your dream house “, Judge said.
Homes like these have great efficiency and once they’ve fulfilled their purpose in someone’s life, how can a person wanting to move on go and make a financial return on an investment like this? If a trend like this grows exponentially then that may lead to a surplus of container homes that no one will know how to get rid of.
“Is there a market for it? For sure” said Judge. “However, you have to do your homework to make sure that what you’re investing in is, like, what’s the what’s the term? What’s the duration? Is it going to take off and be a part of the market? I don’t see these things doing it, so the recyclability of something like that might be very difficult and you might take a big loss on it.” said Judge
It comes as these mobile homes can be seen as both a blessing and a curse depending on the situation at hand. They can be beneficial, both financially and liveable, but it all depends on what your plans pan out to be.
