Home Depot has quietly entered the real estate market.
The US home improvement store giant appeared to debut its new tiny home or “getaway pad”, by home-kit manufacturing company Plus 1, last year, and it’s currently garnering traction on social media as a possible solution to unaffordable housing and property damage caused by the climate crisis.
The news comes in the wake of an affordable housing crisis plaguing the country, with skyrocketing rent prices and mortgage interest rates.
For nearly $50,000, the pad can be delivered and assembled as a standalone extension to an existing house, like a guesthouse, or as a primary residence for those for whom home ownership is out of reach.
But although it has an attractive price point at face value, other features and additions must be taken into consideration in order for the house to be complete, like doors, windows, electrical and plumbing systems, and finishes.
If applicable, customers must also apply for the proper permits in order to adhere to local zoning laws.
Separate from offering financial value, Plus 1 also boasts its homes are “resilient to extreme weather” – an appealing feature during harsh climate events like storms, hurricanes, tornadoes or wildfires, which climate experts say are increasing in frequency and intensity.
Because of its engineering, the houses also keep out insects and rodents, according to Plus 1.
Each pad is made of a steel frame that is meant to be easily and quickly assembled on a concrete slab.
after newsletter promotion
Tiny homes like these have gained popularity in recent years. Some homeowners invest in tiny homes to rent out on platforms like Airbnb or Vrbo.
Last year, Elon Musk made headlines when he allegedly moved into a tiny home manufactured by Boxabl, when he was living in south Texas, where his company SpaceX is headquartered.
Other retailers like Amazon have also begun selling tiny-home kits.