You Could Get Paid Up To $125,000 To Build A Tiny Home In Your Backyard

Building a tiny home can be a big undertaking, but depending on where you live, you could get paid to take on the task. 

Paid Big To Build Small: According to a Business Insider report, homeowners can build accessory dwelling units ranging from 150 to 1,200 square feet on their properties.

The costs of building a backyard unit vary depending on where you live, but to help cut down the price and promote tiny home projects, some states are offering grants for up to $125,000.

California's residents, who have low- to moderate-income, can qualify for a grant program offering up to $40,000 to help homeowners pay for costs associated with designs, permits or inspections. 

The program is limited to pre-construction costs, but the California Housing Finance agency has allocated up to $50 million in total funding.

In Vermont, homeowners can apply for up to $50,000 in funding through regional organizations such as RuralEdge, Champlain Housing Trust and NeighborWorks of Western Vermont. 

Those who are accepted into the program must match at least 20% of the grant amount, maintain fair market rental prices, and complete the project within a year and a half of breaking ground. 

Check out Benzinga’s Real Estate Offering Screener to find passive real estate investment opportunities, including options to invest in rental properties with as little as $100.

New York takes the crown when it comes to tiny home grants. If you live in New York, you could be eligible for more than double what Vermont offers and more than triple California's grant amount. 

Low- to moderate-income residents of New York can receive up to $125,000 in funding to help build an accessory dwelling unit or bring an existing unit up to code. To qualify, your income can't exceed the area median income. 

In New York City, that means a three-person household would need to bring in less than $127,100 per year to qualify. In other parts of New York, that number could drop significantly. 

There's currently $85 million in funding available over a five-year period, and the report indicates a new round of funding is expected to be announced in the next few months. 

Read Next: Warren Buffett's $31,500 House Is Now Worth $1.44 Million But He Says He Would Have Made Far More Money By Renting Instead

This story is part of a series of features on the subject of success, Benzinga Inspire.

This illustration was generated using artificial intelligence via MidJourney.