News Summary
A luxury micro home in Richmond, RI has hit the market for $849,000, offering upscale living in a compact 450-square-foot design. Located in a gated community of tiny homes, the property features high-end amenities like cathedral ceilings and a wet bar, along with access to recreational activities at the Preserve Sporting Club and Resort. Despite its price being above the median home cost in the area, the trend of luxury tiny homes is on the rise, with more developments planned to cater to buyers interested in premium, compact living solutions.
Rhode Island’s Luxury Micro Home Market Expands
A tiny micro home in the Preserve Sporting Club and Resort in Richmond, Rhode Island has been listed for $849,000, which translates to approximately $1,887 per square foot. This 450-square-foot property features one bedroom and one bathroom, designed to cater to buyers seeking upscale, compact living.
The property is situated within a newly established gated community that includes a collection of tiny homes ranging from 400 to 1,200 square feet. These homes are intended for both temporary and long-term stays, featuring full kitchens and living areas. The planned amenities amplify the appeal, boasting designs reminiscent of five-star resorts.
Features and Amenities
Set to be completed by July, the micro home will offer direct access to hiking trails and a newly constructed pool, enhancing its recreational value. The interior boasts a main bedroom that accommodates a queen bed and two twin beds, alongside an eat-in kitchen, a dining area, and a comfortable living room. Additional luxurious touches include cathedral ceilings, a wet bar, a washer/dryer, a private patio, a pergola, and a fire pit.
Investment and Community Benefits
Purchasing this micro home grants membership privileges to a range of activities, such as fly fishing, golfing, and numerous other recreational options available on-site. The resort itself features a well-rounded selection of amenities, including a spa, pools, tennis courts, an equestrian center, dining facilities, and an indoor shooting range. Membership rights can also be inherited and have the potential to generate rental income, with average rental rates observed at around $1,500 per night.
Despite its luxurious features, the home’s price sits nearly $50,000 above Richmond’s current median home price of $800,000. Notably, there are 14 other homes currently on the market in Richmond priced over $1 million, with the most expensive property in the area listed at an impressive $10 million.
Market Position and Future Developments
The listed home, while luxurious, is not the priciest micro home sold in the community; that record goes to a property that fetched $1.6 million. As the property market in Richmond evolves, it appears that tiny homes are finding a niche within the realm of luxury living.
The community is currently under construction, with 55 tiny homes planned for completion shortly, highlighting an emerging trend in the luxury housing market that embraces compact living without sacrificing quality or comfort.
In conclusion, the introduction of this micro home in Richmond represents an intriguing intersection of luxury living and innovative design aimed at attracting buyers with a taste for the finer things, all within a compact spatial footprint.
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