Tiny Home Owners Make Huge Profit
A couple from the US have made a significant amount of money by purchasing a tiny house and turning it into a profitable property. Nick and Meghan Lucido spent around $27,000 on a shed from Home Depot in 2019 which they then transformed into a tiny home. They sold the property for $312,000 just over a year later in April 2021, making an impressive profit. The Lucido family spent a further $60,000 renovating the shed, adding plumbing and heating to make it a habitable space.
The couple also purchased land for $40,000, where they placed their tiny home. After turning the purchase into a profitable investment, the couple explained that they bought the tiny home while struggling with debt. Despite being young professionals in mortgage debt and with new cars, the couple was determined to make their investment work. Nick Lucido explained later that being inside a home was not their priority, but having a place to recover and replenish was.
The couple did all the necessary work required to convert their shed into a living space, and their efforts were rewarded handsomely with their significant profit. The property was not advertised as an Airbnb rental due to the current demand for properties similar to theirs, and the timing of their sale was perfect. With people wanting more privacy and seclusion, the Lucidos’ tiny home was ideal, and many potential buyers were interested.
The Lucidos’ hard work and investment have paid off, and they have shown that with determination and simplicity, a property can become very profitable. The tiny home movement has gained traction worldwide and has proven convenient for the environment and can save homeowners a lot of money in the long run.