Not only have house prices been rising, but the average hourly pay has remained relatively stable, meaning house prices are getting more expensive but people aren’t making more money.
This leaves people thinking they can’t afford to own their own home, and this certainly isn’t the case. We all know that shipping container homes are affordable and are ideal for many people. This year alone, we have seen some of the most cost effective shipping container homes, with homes being built for around $35,000 in some circumstances!
Let’s take a look at what the main expenses of shipping container homes are, to show you just how affordable container homes can be.
Can I Afford A Shipping Container Home Container Home?
To answer this question you need to know two things: your budget and the expected cost of your new home.
Clearly, working out your budget is quite simple- it’s normally just how much money you have in the bank!
But, to work out the expected cost of your new home can be tricky- especially if you haven’t built a new home before. Let’s break down the largest expenses when it comes to container homes.
When calculating the cost of your new home, make sure you really drill down into the detail, including the cost of the land, purchase fees and taxes, architect and structural engineer’s fees.
Professional fees and purchasing your land are the two largest expenses you will have are. Following this, purchasing your shipping containers and insulation will be the next expensive.
Once you’ve calculated the expected cost of your new home, it’s a good idea to set a contingency fund of at least 10%. It’s a sad reality of home building, but the majority of builds overrun and cost more money than originally expected.
Real World Examples
I now really want to show you exactly what we’ve been talking about. Below I’ve chosen three of the most well-known container homes to show you. For each home I’ve also included the finished build price so you can see the value for money that container homes offer.
Example One: Containers of Hope ($40,000)
One of the most well-known container homes is ‘Containers of Hope’. This particular home was built for the Peralta family and was designed by Benjamin Garcia Saxe architects.
Initially the Peralta family approached the architects and explained that they wanted to live in the suburbs of San Jose, however they didn’t want to take out a mortgage and get themselves into debt just to own their own home. They wanted to live a debt-free lifestyle and spend the majority of their time outdoors growing their own food and become self-sufficient.
Benjamin Garcia Saxe thought that they could give the Peralta family exactly what they wanted by utilizing shipping containers.
In total, two 40 foot containers were used and they were laid 3 foot apart to create a corridor which runs in the middle of the two containers. The corridor is covered with a steel roof and also provides passive cooling for them during the warm summer months!
What I really love about the home is the large glass windows which run from floor to ceiling. These windows provide the Peraltas with stunning views over the San Jose countryside
Their 1,000 square foot home cost them $40,000 in total- not bad for a two bedroomed home, with a lounge, kitchen and separate bathroom.
Example Two: Shipping Container Cabin ($35,000)
Larry Wade decided to build this home back in 2010, during the height of the global recession.
You can probably see from the photos that the Shipping Container Cabin is similar in appearance to Containers of Hope which is mentioned above.
The cabin was built using two 40 foot containers, which cost Larry $2,000 each.
Not only did Larry want to build an affordable home, he also wanted to make the home ‘off-grid’. Off grid means he wanted his home to be completely self-sufficient and generate its own electricity. To do this he fitted solar panels to the roof of his containers- these panels were also used to heat the water for the home.
What I really like about this home, is the creative use of the containers to make a large open plan living room. Larry has cut an arch out of the side wall of both containers to create a beautiful living area for him and his family.
As well as this open plan living room, the home contains two bedrooms, a kitchen and a separate bathroom.
You are probably wondering right now, what was the total cost of this home?
$35,000 and this price includes buying and delivering the containers!
Example Three: Joseph Dupuis’ Container Home ($20,000)
Joseph, like the Peralta family, wanted to own his own home, but didn’t want to get in debt.
So he decided to build a container home using three 20 foot containers in the woodland which he purchased from his parents. The home was built around 35 miles west of Ottawa and the containers were purchased from Toronto for $2,600 each.
Dupuis built the home himself and in total the home took 10 weeks to build- at times working up to 14 hours per day. Joseph, who comes from an engineering background, said it was “like a giant science experiment so I’m observing and making modifications”.
Like the Shipping Container Cabin mentioned above, this home is also off grid, which means it produces all of its own electric from solar panels. For the heating Joseph uses a wood-powered stove.
Again, I really like the open plan space in this home which has been created by removing the touching-internal walls of the containers. The home is entirely open plan, and contains a kitchen, shower stall and a dining area. There in an outside bathroom, however if this was my home I would definitely be bringing the bathroom inside!
In total the home cost $20,000 to build.
Two Great Cost Saving Tips
When you start building your own shipping container homes, here are two great cost saving tips which will save you a buck or two!
The Smaller the Better.
Now this tip is quite obvious when building a new home, but it’s even more true when considering shipping container homes.
You need to carefully design and plan your shipping container home well before you even think about purchasing your shipping containers. Changing your mind about the overall design of your container home once you’ve started building can become very expensive.
If the design of your home means that you aren’t fully utilizing a particular shipping container, ask yourself: do I really need that extra bit of space? Each container can cost around $4,000 so not fully making use of the container can be an expensive mistake. You want to plan your home so you use just the right amount of shipping containers, not too many, not too few.
Make Good Use of Materials
One thing I’ve found which really does help save a lot of money, is to make good use of materials.
When designing your container home, try to pay attention to the sizes of the materials which you are using. For example: if you’re going to be using drywall to board over your insulation, then make sure to purchase it in 8 foot tall sheets so it fits perfectly inside your container.
Shipping container homes are an extremely affordable form of housing, and when you take the appropriate measures and thoroughly plan the construction of your home, you can further reduce the costs!
I have shown you three examples of affordable shipping container homes, so you can more accurately plan and budget your own container home. Remember that whilst all the example homes were incredibly cheap, they were also built by the owner which saves a lot of money. If you pay a contractor to build your container home for you, it will significantly raise the cost.
Let me know below how much you have budgeted for your own shipping container home…