Is Tiny Home Living The Secret To Saving Money Today? | Millennial Money Marathon

Make It Marathon journeys to Atlanta, Santa Monica, and New York to connect with three individuals who live in small spaces to save big money.
Alex Verhaeg, 23, lives in a tiny 95-square-foot apartment located in NYC's East Village. He pays $1,100/month in rent. Alex believes he has a pretty good deal because he doesn't have to live with roommates. However, there are some drawbacks: Since the space is so small, he has to sleep diagonally.
In 2022, Sung Yoo moved from New York to Santa Monica, California - into a 140-square-foot tiny home, which is smaller than the average size of a parking spot. She currently pays $1,600 a month for rent.
Precious Price, 26, lives for free with her dog in a tiny home in her backyard in Atlanta, Georgia. The tiny home cost $35,000 to build and six months to complete. Precious works as a real estate entrepreneur and digital consultant.
Produced by: Valentina Duarte, Mickey Todiwala, Ernestine Siu
Camera: Tristan Pelletier, Jeffrey Beard, Mickey Todiwala
Editor: Marisa Forziati
Animator: Elham Ataeiazar
Contributors Editor: Una Dabiero
Additional Footage: Precious Price, Sung Yoo, Alex Verhaeg, Getty Images
Subscribe to CNBC Make It: cnb.cx/2kxl2rf
About CNBC Make It: CNBC Make It is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.
Connect with CNBC Make It. Online
Get the latest updates: www.cnbc.com/make-it
Find CNBC Make It. on Facebook: cnb.cx/LikeCNBCMakeIt
Find CNBC Make It. on Twitter: cnb.cx/FollowCNBCMakeIt
Find CNBC Make It. on Instagram: bit.ly/InstagramCNBCMakeIt
#CNBC
#CNBCMakeIt
#MillennialMoney
Is Tiny Home Living The Secret To Saving Money Today? | Millennial Money Marathon

[@asadb1990]

The tiny home is a great idea to recoup cost of mortgage in a big city without granting access to your main house. Also airbnb might work great as well

[@jaspherdansalan635]

WAIT WHAT?! 40 YEARS OLD??!?!

[@janelledeloatch8355]

She looks amazing I know

[@SuperEmilyW]

No wonder that guy living in Manhattan has a terrible sleep schedule- he doesn't fit in his bed!

[@tractioncontroldelete]

The Atlanta homeowner with the tiny home on her property has it all figured out. Bravo!

[@RoddieSimmons]

I have a larger 1 floor home on my wifes compound in Brazil, so I really connect with her. Ours cost a little over $20k U.S., but my wife really knows her way with the contractors and material's (In the NorthEast Brick is the material of choice). I would just suggest to keep away from loans and credit cards as much as possible, but Hoorah for What She Has Done.😎

[@Lynthie1927]

1100 for 95 sq feet!?!?! You’re getting robbed, just get a roommate omg

[@hubertcumberdale2651]

I'm literally getting a 1600 sq foot manufactured home built for $140,000. "Tiny Homes" are extortionate for the space they grant.

[@Superboy7456]

this is pretty cool and kinda sad at the same time lol

[@nickickass1399]

The fact that this is being normalized is just so sad…

[@Angela-ne9cy]

Also sad: Americans who believe a McMansion is the goal. If people are happy in a smaller space, who cares?

[@hubertcumberdale2651]

It's not even "normal". In fact, most zoning laws don't allow for RVs or Tiny Homes to be the primary dwelling on private land.

[@sls4170]

@@hubertcumberdale2651 Do you know why that is?

[@hubertcumberdale2651]

@@sls4170 you can Google it yourself

[@mirabella2154]

The dude who sleeps diagonal because he doesn't fit in: No. Just no.

[@naturaldiva67]

😂😂😂

[@msd4743]

😥

[@y.r.9401]

Better than sleeping in a car or on the streets.

[@y.r.9401]

He's not complaining ;) :)

[@bryanmoyna9715]

Dude, buy a hammock or just use a sleeping bag on the floor. A bed sofa, something you dmass!

[@johnnyanderson3287]

Tiny houses sounds great until it’s time to sell it..

[@lina987]

1600$?! for this tiny tiny space in Santa Monica. It‘s insane! 😢 In the beginning I was a big fan of simple living, but more and more I see the shortcomings of our economic system and that it’s leading to humans living in boxes as chickens in laying batteries. There is nothing great about this development because some still can afford ‚normal‘ houses whereas others … Edit: As I wrote the above I didn’t see the guy at the end. Oh Lord, this is even worse. How is this legal? This is just above sad and crazy. 😢😢

[@asadb1990]

Yeah these small places look nice but slowly landlords are charging more rent for tiny rooms

[@NoIDAvailable]

I love this. This would be great for myself & daughter

[@pghomies]

Inspirational. For single people.

[@tragtrag79]

I like these tiny houses! Looks they're warm and cute

[@diabetes1.564]

Thank You. In NY people probably keep the radiator and minisplit

[@beefynachos6574]

Diagonal sleeping doesn’t work out for you buddy lol

[@melody-RN-BSN]

The tyny house costs 1600 a month. That's crazy

[@auspicioustoot]

I have a house the size of the main house with the yard bigger than the whole property for less than 500 a month.

[@andreabellini6796]

Her standing on rolling chair gave me anxiety

[@jm2307]

Moving costs should factor in movers, moving truck rentals, storage, etc

[@nefariousni1]

The title to this video should be ‘is converted shed living the secret to saving money today?’ What if there’s a tornado?

[@bsm121]

That's actually a good one, use Google to see what happens to everything when a tornado goes through a town. In other words doesn't matter everything is done

[@cristinab2263]

Precious is brilliant. She'll be a millionaire one day. I love her vision.

[@kristinab1078]

This is why I'll never be a millionaire. I wouldn't charge those high rent rates for a single room/suite.

[@slimwalk708]

The guy in Manhattan needs to move. Sleeping diagonally is going a tad too far. 🤦🏼

[@y.r.9401]

Would a condo in Santa Monica be cheaper!???

[@diabetes1.564]

Im glad for Sung. Beach, cheaper place, parking and utilities

[@mamabare49]

Second scenario. I would not want my landlord right behind me. No thx

[@SpelareTV]

In my case it's the key for savings, but I spend for 35 square meters (with balcony), 390€. In Germany of course, in most western countries that's way more 😅

[@koolflows7581]

Whatever saves $ nowadays nowhere is cheap

[@aqworlds9]

you re-use content way too often

[@fishjungle9]

The fact that this way of living is becoming more normal is shocking. This is a symptom of a much deeper problem in society and the housing market. As a member of GenZ, this just saddening to see.

[@Anonymoose66G]

To be honest if they don't dislike it then go ahead 😂.

[@MatDGVLL]

Normalisation of being lonely. Also it’s a great way for investors to continue getting money from low budget people while they should move to a new more livable location 😅. What a great way to get more money from a parking lot lmao. That’s evilishly brillant

[@kristinab1078]

I agree. It's similar to how we pay the same amount for food items, but the packaging and contents keep getting smaller and smaller. @@MatDGVLL

[@hubertcumberdale2651]

​@@Anonymoose66Gthey "don't dislike it" because they have been conditioned NOT to.... by the very same fat and bald boomers who are sub leasng the land and collecting their rent.

[@kaikalls5058]

Tiny house is only good when u r a bachelor....😂🤣😂

[@LaJulieOrtega]

Wow these landlords in Cali and NYC are fleecing people. I have a 1900 sq foot home that I pay $1400 on. Just crazy to live that way. I imagine it would get old fast.

[@back2the80s]

Wouldn’t rent a home with landlord living on premises

[@bryanmoyna9715]

Why not...rent a room? Whats the point? im to pay a whole lotta money to live in a room? i'd rather rent a room and save money for a future house if i get to start a family. This is a waste and not a solution, it might work for single hermits but it aint gonna work for social people who wanna have a family. Idk the market for these things tho, maybe it pays for itself in the future idk. Wanna build a tiny house community? where have i heard that before? oh yeah, its called a *building* lol.

[@itsBDubss]

So it's a waste and not a solution, all because it doesn't work in some random situation that you conjured up in your head without any further thought? You aren’t aware of any families successfully doing this, even while the information is right there at your fingertips? That's wild.

[@bryanmoyna9715]

@@itsBDubss Humans wanting to make a family is a random situation?

[@itsBDubss]

@bryanmoyna9715 when it's a blanket statement, yes it is. Are you slow?

[@Investingcoachw]

I probably wouldn’t go back to tiny home living but when my partner and I were in NYC we were living in a 350 sqft attic paying $1,000 rent. It was a huge money saver and helped me get my first $100k invested. Having to constantly clean the place is what I don’t want to go back to haha.

[@Anonymoose66G]

12,000 a year for a 350sq ft attic is insane 😂. I suppose it's NYC though so probably not too bad considering.

[@Investingcoachw]

@@Anonymoose66G I grew up in the Midwest so I get it. When we first moved to NYC there definitely was sticker shock when looking at rent costs. Thankfully we were to be able to rent from family friends who trusted us in their home. Definitely wouldn’t be able to find a better deal and utilities and internet was included. We’re in San Francisco now and pay 3x that.

[@Anonymoose66G]

@@Investingcoachw How do you even afford that? Surely most people wouldn't have much of any disposable income and thus any unforseen emergency would be incurring you to take out debt and deepen the hole your digging for yourself. What do you get for that as well? To live in an okay city by American standards? Doesn't seem worth it to me personally however if you like it then that's what matters, also most people live where they do because they have to not by choice obviously. In my mind rent shouldn't be more than 12,000 a year for less than 600sq ft anywhere.

[@Investingcoachw]

@@Anonymoose66G fortunately my partner and I are both six figure earners. And I really value being in the city and close to fun city things and networking events. But yea rent is hella expensive. But I’m willing to spend on a few higher ticket things and I pull back on things that don’t hold much value for me and even cut them out of my budget entirely.

[@diabetes1.564]

Who is that tiny home builder that it doesn’t need a furnace?

[@naya4607]

Why do you need a furnace??

[@diabetes1.564]

@@naya4607 Homes usually have furnaces to provide heat. How else is it done? I’m inquiring to the builder as to see how it is cooled and heated by concrete panels. I am curious

[@naya4607]

@@diabetes1.564 good insulation and a space heater

[@stefaniesoldit]

@@diabetes1.564 it looks like they're using a small mini-split which can do heating and cooling. Assuming this is located in a climate that doesn't get super cold in winter because I've heard that you really need a furnace and can't just use these when the outside temperatures are very low.

[@turkeytrotproductions4582]

First comment! 🎉

[@zkatherine2579]

Less is more,simple is Best!

[@cdub7373]

So moving somewhere cheaper, staying with family until you can afford to move or apartments w/ roommates are no longer options? We gotta live in a locker now? Cool

[@bryanmoyna9715]

That boy is one of the hardest attempts to become a living caricature i've ever seen lol.

[@noname-vf7yv]

No way she is 40 yo

[@msd4743]

You think she's older? Younger?

[@noname-vf7yv]

@@msd4743 younger, she looks 32

[@msd4743]

@@noname-vf7yv .........I was thinking 45.

[@jozejeaux3962]

This was my plan when I bought my home 3 years ago in Atlanta. I'm still considering it since I have the backyard space as well🫶🏾

[@loveyourself8026]

No thank you! Very dangerous!!!

[@hubertcumberdale2651]

Ummm it's Georgia ... a constitutional carry state. It's only as "dangerous" as your stupidity to not have a handgun for household protection 🔫

[@dalaov5258]

move to another country, better...

[@gunarssonbilly.]

I must say you are an inspiration because I started up investing in crypto as a scared investor who doesn’t want to lose money, glad to say I’m very profitable now and bought my first house through it

[@Missandrew88]

Oh wow that's great, congratulation 🎉

[@danparker3439]

Big props to you on your wins please how did you become successful, lately I find everything difficult how did you overcome fear of loosing facing same here

[@gunarssonbilly.]

I understand how you feel,well is not luck is all about having good investment plans, watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey.

[@gunarssonbilly.]

I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.

[@sussanphilp8795]

Congratulation, I’m encouraged keep it up

[@WealthLeo-us6uo]

For salary earners having a passive source of income is the best thing you could have, because aside the fact that it isn't always enough you could lose your job any day at any time, have something to fall back to is crucial, for me it is trading the Forex and stock market and know I didn't have that much knowledge to begin to earn that's why I said passive income, I leave the profit making to the pro like my Advisor 'Mr Mark Anderson' who has been doing a wonderful job.

[@CleffSindy-sg9qc]

Been looking to invest part of my savings in forex. Just don't know how to get started. Not about to take a loss on my savings haha

[@joelrobinson7656]

Amazing seeing others with Mr Mark Anderson I sta'rted my inve'stment wit $10, 00'0, a week later, we had grown to $55,0'00. This Man!! absolute genius.

[@marrynelson5821]

Venturing into the trading world without the help of a PROFFESIONL TRADER, and expecting profits is like turing water into wine you would need a miracle. Thats why i trade with Mrs Mark Anderson, his skills set exceptional

[@VarnaJiera-od8is]

And this is not the first time l am hearing of Mr Mark Anderson and his exploits in the trading world but i had no idea on how to reach him, i have already lost enough of money since my retirement on binance trying to do it myself

[@TitiCose-pr6ls]

I'm a beginner, how can i reach out to MR MARK ANDERSON?