Home Depot unveils a $44,000 tiny house called Gateway Pad as millions of homebuyers get priced out

Move over, Boxabl! Home Depot, the world’s largest home improvement retailer, is entering the DIY tiny house movement as millions of Americans get priced out of traditional family homes, contributing to one of the most severe housing affordability crises in recent history.

As Americans struggle to pay their mortgages and make ends meet, Home Depot is now offering an incredible opportunity to own a prefab home called “Getaway Pad.” In just a few days after launch, the prefab home went viral online. The initial “framing kit” which starts at $43,832, includes the steel structure and assembly parts needed to get started.

The launch comes two years when Las Vegas-based tech startup Boxabl made headlines after it was revealed that Tesla and SpaceX CEO Elon Musk bought the company’s 375-square-foot prefab tiny home. Thanks to Elon Musk, today the Las Vegas-based startup Boxabl says it now has a waitlist of 47,000 customers, and over 2,000 of them have already put down a deposit.

However, the 540-square-foot kit prefab home from Home Depot offers everything one needs for comfortable living. It features a living room, kitchen, one full bathroom, a bedroom, and even a rooftop deck accessible via a spiral staircase. For those looking for an added touch of luxury, an optional upgrade includes a spiral staircase leading to a delightful roof deck, perfect for enjoying the outdoors.

Before embarking on this exciting project, it’s essential to consider local zoning regulations and seek the necessary permissions and assistance to build an accessory dwelling unit (ADU). These smaller homes have become increasingly popular due to their affordability, especially among millennial and Gen Z homebuyers who are seeking more accessible options in today’s competitive housing market.

If you’re on a tighter budget, don’t worry! Amazon got you covered. The retail giant also offers a wide range of homes that cater to different price points, ranging from as low as $1,000 to $100,000. This variety ensures that there’s a suitable option for everyone, regardless of their financial constraints.

The Getaway Pad is a framing kit provided by PLUS 1, and Home Depot offers a range of additional finishing materials required to complete the personalization of the space. These include doors, windows, electrical components, plumbing supplies, and various finishes, all conveniently available on Home Depot’s website or in their stores. It’s important to note that the final cost of the home may vary depending on the specific furnishings and finishes chosen.

Home Depot’s entry into the tiny home market reflects the growing demand for smaller dwellings. The National Association of Realtors and Realtor.com recently reported that 75% of homes are now considered too expensive for middle-class buyers. As mortgage rates soar and housing prices remain elevated due to limited inventory, millions of Americans find themselves priced out of the market. In response, building a tiny home on affordable land has become an increasingly popular trend, offering an alternative path to homeownership.

For middle-class buyers, the traditional notion of owning a home with a white picket fence has given way to the appeal of affordable mobile homes. The RV Industry Association recently published a report showing a surge in demand for mobile homes during the first quarter of 2023.

Until mortgage rates decrease, housing affordability is unlikely to improve significantly. This situation has led many middle-class buyers trapped in a cycle of renting to consider purchasing land in rural areas and constructing tiny homes as a means to escape the challenges posed by inflation and limited housing options.

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