We are starting to see a trend especially among younger people to buy "tiny" homes. These are usually custom built homes on wheels that can be transported anywhere. They are a cross between a manufactured home and a mobile home. These tiny homes are usually between 500 and 700 square feet including second floor space. The cost can be somewhere between $60,000 and $100,000 depending on amenities. Sometimes, they will have a pull out deck once parked.
There is only one problem and that is where to park a tiny home to connect it to electricity, gas and sewer. Tiny home parks are springing up all over the country and or it is possible to park a tiny home in a mobile home park. Either way, unless somebody owns a lot to park it on, there will be monthly payments to rent a space. Those spaces could cost $500 or more a month depending on location. The good news is that since a tiny home is on wheels, it can be moved. However, it would usually require a large truck to haul it to a new location and that can cost $3,000 or more depending on distance.
Even so, this could be a great alternative for a young person, or couple seeking a starter home especially now with home prices going through the roof. A tiny home is probably not a good alternative for a family with children. There just is not enough room to accommodate more than 1 or 2 people. It is not "real property" in the sense that it is real estate because it is not attached to the land. Instead, it would be considerer personal property just like owning a car or truck so that probably means some kind of license fee each year depending on the state. Tiny homes could be the wave of the future for retired people, as well, just seeking a little space to call home.
