Billionaire Elon Musk is living in a tiny 375-square-foot house which is worth just $49,500 (Rs 36 lakh), Inhabitat reported. The house is affixed in Boca Chica, Texas, close to SpaceX’s Starbase launch site.

Share Market Live

NSE

Musk had previously alluded to the worth and space of his home in June. Musk had tweeted out, “My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though. Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day.”

My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though.

Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day.

— Elon Musk (@elonmusk) June 9, 2021

The house comes prefabricated from a factory and is made by a company called Boxabl. The house comes with a bedroom, bathroom, living room, and kitchen and is transported on truck back and assembled on site. The house comes with modern utilities like ridge, dishwasher, oven, microwave, built-in ironing centre all of which are built to be energy efficient for lower utility bills.

The nascent company, which was only founded in 2017, has attracted the attention of many potential customers. The tiny modular prefab houses have a waitlist of 47,000 customers, and over 2,000 customers have even made deposits for their own tiny homes.

"The target audience heard about this beforehand, and then the Musk press brought in general audience interest, maybe someone who didn't care about housing," said Galiano Tiramani, Boxabl founder.

The interest in mini homes has increased over the years as housing prices have skyrocketed past what would be feasibly affordable for many working adults in the United States. Many homes had been brought up by financial institutions, foreign investors and other non-residents which subsequently triggered high housing prices. Though housing prices are settling down to expected slabs, they still remain unaffordable for many in expensive cities like Los Angeles, New York, Chicago, San Deigo, Miami and more.

(Edited by : Aditi Gautam)

First Published:Aug 10, 2021 10:46 PM IST