Jean-François Binette | Desjardins Group
Are you a minimalist? A tiny house might be right up your alley!
What is a tiny house?
The tiny house movement is enjoying certain popularity in North America these days, where unlike the rest of the world, smaller houses aren’t usually the norm. Although the size of tiny houses does vary from region to region, in Quebec, they’re usually around 45 m2 (or 500 ft2). They hold everything you need, with no wasted space!
It may be for you!
Not only are they less costly than traditional homes (on average, a tiny house costs between $25,000 and $80,000), they also don’t consume a lot of energy. Much like a yurt, tiny houses are generally built directly on a foundation, or sit on stilts or wheels. Many people see them as way to live better without financial stress—they’re particularly popular with young people and, more and more, those enjoying retirement.
Where to build?
Very few municipalities in Quebec permit this type of housing. Before being approved, a home is often required to be greater than 45 m2 (500 ft2). Be sure to:
- Verify regulations issued by your municipal planning department
- Think about living in an ecodistrict, where regulations are sometimes more lax
In Quebec, tiny houses are popping up in approved areas within the municipality of Lantier in the Laurentians and in Sainte-Brigitte-de-Laval, near Quebec City.
Can you get a mortgage for a tiny house?
Mortgage lenders generally require these homes to be built on a foundation and on property that you own. If you don’t meet those requirements, a personal loan might be enough to see your project through.
Keep in mind, no matter the size of the house, in the event of disability or death, you or your family will need to pay back the loan. For protection that won’t compromise your finances, you can turn to Desjardins Loan Insurance.1 It provides:
- A premium that shrinks as you pay back your loan
- Benefits that continue for as long as you remain totally disabled, until the loan is paid back in full or until you turn 70
- Financial support in the event of a cancer diagnosis
1 Some conditions and restrictions may apply.