Marketing strategist, social and real estate entrepreneur Precious Price found financial freedom by living in a tiny home, which not only provided her with a simpler lifestyle but also eliminated her housing costs. She built a tiny house in her investment property’s backyard in Atlanta for $35,000 and earned back the investment in just two years by renting it out. Her success led her to coach others to earn five figures with short-term rentals and launch her company LANDRIFT, which is a learning platform offering insights into the real estate market to promote homeownership. In a TEDx talk, she discussed housing insecurity and the need for capital and social good in real estate.
Price decided to construct a smaller unit after feeling her three-bedroom, two-bathroom house was too large, which she had purchased for $196,000. Construction of her tiny home began in October 2020, and the original budget was $25,000. However, she ended up spending $35,836 after construction was completed in March 2021 due to some shoddy work by contractors and buying extra wood. She rented a room in her neighbor’s house while her new micro-dwelling was being built and rented out the tiny home on Airbnb to make up for overages. She later moved into the tiny house to experience tiny home living and to save money.
The cozy Atlanta abode is less than 300 sq. ft. and features everything she needs. Walking through the front door, you see the living room to the left and the dining area to the right. There is a comfy couch with extra storage underneath, and a small TV mounted high on the opposite wall provides the perfect viewing angle. The extended countertop serves as a dining nook with two stools tucked in underneath it. Beyond the nook is the kitchen, Price’s favorite area of her home, which hosts an almost full-sized refrigerator, abundant counter space and cabinets, a small induction cooktop, and a full-sized sink. A floating shelf holds a microwave and some other items, and windows and mirrors throughout the unit make it feel open and airy.
The bathroom is hidden behind a sliding barn door, with glass doors on the full-sized shower to create the illusion of a larger space. The toilet and sink are adjacent to the shower, along with a towel rack and floating shelf for extra storage. To the right of the front door is a compact office with a wall-mounted folding desk and chair, while to the left is a library ladder that leads up to the loft space sleeping area.
Price’s tiny home is basically a standalone studio apartment, and she describes it as a baby to her. The backyard, which is shared with the student tenants of the larger house, features a fire pit. Her tenants pay the mortgage on the primary house, along with bringing in additional income, while she lives in the smaller house for free. This has allowed Price to get ready to look toward building an additional structure on the site.
