I built a $35K tiny house in my backyard and live in it. I now rent out my main home and use the money to pay off my mortgage.

• Precious Price built a tiny house in her backyard to offset living expenses.
• She rents out the main house to students who need the space.
• Price says she loves sharing her space and has a great relationship with her tenants.

This as-told-to essay is based on a conversation with Precious Price, an owner of a backyard tiny home in Atlanta, Georgia. It has been edited for length and clarity.

Back in 2019, I bought my first home in Atlanta, Georgia for $196,000. I had just finished my master's program and was starting my career in marketing consulting.

After buying my house, I had one big goal in mind: I wanted to offset my housing expenses.

My thinking was to make the most of the 7,000 square feet in my backyard. What if I placed a tiny house back there, move into it, and then rent out my primary home?

Since it's just me, it would be possible to downsize into my tiny house and rent out my main home to someone who really needs the space. I could then use the money to pay off my 30-year mortgage.

In May of 2020, I began to create the floor plan and design it. But before I could really get started, I had to get permits. This was a huge hurdle for me personally, especially since it was during the pandemic.

At the time, permits were just starting to become virtual and there was a long turnaround time. There was a lot of back and forth with the permitting office and it took nearly 2 to 3 months before I had a permit in hand.

After finally getting approval, it was time to hire contractors. This was hard, too, especially as a young woman who had no experience with this type of work before. Things were taking way longer than I had initially planned.

By the time my tiny home was done in March of 2021 I had spent:

• $10,000 on the shed

• $19,161 on the labor

• $6,675 on additional materials such as the furnishings, drywall, cabinets, paint supplies, shelves, grout, flooring, and insulation.

I now live in my tiny home and rent out my main house to students. By doing so, I'm able to offset some of my living expenses like my mortgage and utilities.

I also love sharing my space with the students I rent it out to. We have a great relationship and share some responsibilities. I scratch their backs and they scratch mine, but we have fun, too. We like to sit together and have cookouts in the backyard, and it's as if we live in a small community.

After going through the process of building my tiny home there are a few things I have learned if you would like to try it for yourself.

1. Don't underestimate the project

Even if it's a tiny structure, don't assume it will be cheap. It might be small in size, but you still have to pay for plumbing and electricity, too. So whether the home is 2,000 square-feet or 200 square-feet, you still have to factor those things in. A tiny house doesn't make it a tiny project.

2. Make sure you're able to build a tiny home on your property

Some believe that because they own the land, they can put a tiny house in their backyard — but that's not always the case. Not every area allows for these structures, especially if you live in a property with an HOA.

It's also a good idea to get your land surveyed. It might look like you have a lot of land, but it's important to know how much land you actually have. This does cost money however, and may run you between $200 - $400 dollars depending on your location.

3. Do your research

Above all, before you start building a tiny house in your backyard, it's important to do your research. Make sure you look into zoning and permits too. Do your research on contractors and get numerous bids on your project.

Looking back now, I realize I should have done more research. It was a mistake not to do it more thoroughly. But my mistakes I made with the tiny house turned into a lesson, and I am happy with that.

If you have a tiny home and would like to share your story, email Alyshia Hull at [email protected].