In this day and age, people are no longer seeking huge mansions—it’s all about the “tiny home,” AKA a home that’s, well, pretty tiny. While there are no set boundaries for what’s considered a “tiny home,” typically tiny homes are an average of 400 square feet in total. Pretty tiny, huh?

Though small, the tiny house is indeed mighty. A regular single-family home can cost hundreds of thousands of dollars—and that’s just the purchase price. Then there’s interest, taxes, insurance, maintenance repairs, improvements, the list goes on and on. We’re not even sure how anyone affords a home, honestly!

Here are some surprising stats on the financial situation for those who live in a tiny home, according to The Tiny Life:

• 68% of tiny home owners have no mortgage (compared to 29.3% of all U.S. homeowners)

• More tiny home owners (78%) own their own home—plus, 55% of tiny home owners have more savings than the average American

• 32% of tiny home owners have more than $10,000 tucked away for retirement

Additionally, when you have your own home, you might wind up accumulating a ton of “stuff.” Maybe you shove it all in the second bedroom or attic, or watch your house become more and more cluttered…whatever the case, a tiny home forces you to become more of a minimalist. You realize you don’t need a ton of “stuff” to be happy.

On top of it all, you benefit from not having to maintain a whole heck of a lot of house. When you have a single-family home or even an apartment or condo, it can take you an entire day just to clean your home. Not with a tiny house!

One more thing: Most tiny houses are or can be put on wheels, making you able to literally just get up and move at the drop of a hat. You can travel the world—and not have to leave home to do it!

There’s a misconception that people who live in a tiny house must mean their décor is pretty drab and boring, but actually, we’ve seen a ton of tiny houses that are anything but. Usually, they’re more stylish than some of the big houses we’ve seen!

For example, when this couple built their own tiny home, they decorated it in a tasteful way. Their kitchen has an updated oven, fridge and sink—there’s even enough space for a wine rack! The hardwood floors with the contrast of their dark and light walls and furniture make it one chic tiny home.

However, nothing compares to this new tiny home we’ve recently come across, located in the blue mountains of Sydney, New South Wales. The couple that built it created an ultra modern interior that will seriously blow your mind.

With it’s jet black exterior, super clever design and incredibly high quality of craftsmanship, this tiny home is one to remember. You’ve got to see it to believe it—so check it out in the video below!

What do you think of this tiny home? Would you ever entertain the thought of living this type of lifestyle?