Elon Musk’s $50,000 House Gives People Some Major FOMO:- Elon Musk remains one of the biggest contributors to the tech industry. From electric cars to solar panels to reusable rockets and advanced brain chips – the South African-born billionaire is keen to make every aspect of our lives easier and better But what if we told you there’s more? Actually, there is.
The Tesla and SpaceX boss just took to Twitter to promote an affordable smart home that is causing a lot of buzz within the market. This newly introduced house is powered by clean energy and has the potential to revolutionize the real estate industry.
An environmentally friendly home is everyone’s dream. Never mind one endorsed by the world’s richest man. But what exactly do we know about this sustainable house? And how viable Is it? Let’s find out together.
As mentioned earlier, Elon Musk is regarded as one of the most innovative entrepreneurs in the world. His ideas and companies have helped to solve some of the world’s biggest problems. Tesla is seen as the startup that catapulted Musk to the limelight.
And since the automobile company was founded in 2003, it has carved a niche for itself as a forward-thinking firm with creative concepts and innovative products that solve real-life problems and promote healthy living.
Musk’s other businesses, including SpaceX, Neuralink, and The Boring Company, also operate based on these principles. And although he doesn’t actually own a home building company, the Tesla CEO is actively marketing a new brand of smart homes to his followers on Twitter.
But isn’t it ironic that despite all that he has on his plate, Elon Musk is committed to promoting sustainable homes? And more importantly, why is he not building it himself? Well, after previously publicizing his willingness to send humanity to the Moon.
One would think that Musk would be busy designing and building prototypes of houses that will accommodate astronauts if they eventually make it to the Red Planet. Musk is known to be a very proactive person, and we assume that a solution to that concern will be covered in his plan to colonize Mars but for now, promoting a low-budget sustainable home for earthlings is top of Musk’s priority.
Especially because that’s the type of house, he lives in as well. It’s almost unimaginable if you ask us. I mean, a billionaire worth over $200 billion living in a house that cost less than 50% of the price of a Tesla Model 3?
It’s something that only a nerd like Elon Musk can do. But how did Musk end up living here? Back in 2020, the billionaire vowed to dispose of all his physical possessions, including his real estate properties. “I am selling all physical possessions. Will own no house.” Musk declared.
And being a man of his word, he sold the seven houses he owns in California one year later, raking in $128 million in the process. Since then, he has been technically homeless. In one of his recent tweets, Musk reveals he now lives in a tiny house called Boxabl Casita.
It is located within the SpaceX complex in Boca Chica and costs only $50,000, which is easily affordable for some like Musk, but guess what? The tech billionaire doesn’t even own it. The house is classified as an asset of SpaceX, and Elon Musk has to rent it whenever he’s in town.
So, Musk is more or less a tenant in his own company. But what’s so special about this house? To begin with, the Boxabl Casita is a compact 6×6 meter home built with steel, concrete panels, and EPS foam. Being a tiny dwelling unit, it can be towed easily even by a small-sized vehicle like the Tesla Model X.
The company behind the project, Boxabl, says that the key components of the home like the floor, roof, and walls are carved out from structurally laminated panels, ensuring that they offer more insulation and durability than the building materials used in traditional homes.
Thanks to these sturdy components, the Casita is able to withstand light storms, floods, snow, and even hurricanes. We cannot confirm or deny it, but official sources says the Boxabl Casita is built to “last a lifetime.”
That’s a good point to sell to customers, but we assume the deal breaker for any potential buyer would be the availability of the basic home amenities. And we can confirm that the Boxabl Casita is stacked in that regard.
It is a studio apartment consisting of four living areas, including a master bedroom, kitchen, bathroom, and an extra room that can serve as the living area or dining room. As mentioned earlier, it has high ceilings and moderate-sized windows to provide adequate ventilation.
As part of the standard package, customers will get basic home appliances like a large-sized fridge, dishwasher, ironing board, washer-dryer unit, ironing board, heater, microwave, and an air conditioner.
And as an aside, the Boxabl Casita is equipped with solar panels, batteries, and other smart technologies that make it sustainable and easy to maintain. Depending on the type of setup the customer requires, the Casita can be installed as a stand-alone living unit or hooked to an existing house.
And the fact it is affordable makes it even more desirable. However, the final cost could differ based on the installation style, but whichever installation structure you opt for, the setup shouldn’t exceed 24 hours. Furthermore, the Casita opens up quite a lot of possibilities for customers.
We might just be heading for an era where you’d be able to own a house of your own without having to bother about mortgage payments. At the moment, the company is focused on promoting and circulating the tiny models of this revolutionary home. But in the future, it plans to scale up and build bigger models.
And by all accounts, this business strategy seems to be working. Currently, Boxabl has received 2,000 paid reservations and total orders of more than 100,000 units for the Casita home.
In all, that should bring in over $1 billion in revenue for the company, which is impressive for a company that started business in 2017. But according to reports, the company had only built three units of this product, including the one that Musk lives in. So how come they have such a large following?
Well, the answer is an open secret. Elon Musk pulls a lot of public attention. In the past, tweets from the billionaire have impacted the prices of stocks and cryptocurrencies, as most investors are constantly looking to put money into projects that Elon Musk is involved in.
Since Musk tweeted that he owns a unit of the Casida home in 2020, business has been booming for the company. Musk’s tweet added 7,000 new orders to the waitlist. And there could be more orders in the offering because the Casita smart home can also serve as a makeshift medical center or military camp if need be.
In fact, the company already signed a $10 million contract with the US government to supply Casita homes to the military. But if orders continue to troop at this rate, Boxabl might get overwhelmed.
To increase its production capacity, the manufacturer has just recently moved to a new factory that would allow it to produce one Casita home every 90 minutes. That would be a huge improvement on the current production rate of one Casita every seven hours, and more importantly, it’s good news for the 47,000 people who are on the waiting list.
It should also bring smiles to the faces of potential customers who have yet to join the list because soon enough, you’ll be able to order a smart home and have it delivered and installed in roughly two hours, depending on your location.
It’s such a compact and well-thought project that you’d struggle really hard to find flaws in it. Except that the current model might be too small for large families. Although, we know that the larger version is due to arrive soon. But even without that, the benefits of the Boxabl Casita clearly outweigh its disadvantages, especially in terms of sustainability.
Musk has always advocated for reducing the world’s carbon footprint. That’s the biggest motivation behind his invention of Tesla cars. Not too long ago, the billionaire retracted his decision to accept bitcoin in exchange for Tesla cars due to the amount of energy required to mine the cryptocurrency.
And more so because the token is generally mined with fossil fuel. So, it is only fair that Musk has chosen to live in a sustainable home like Casita. According to reports, residential properties account for between 17 to 21 percent of energy-related carbon emissions.
With new real estate properties springing up from time to time – that figure is set to explode in the coming years. Well, except we all follow Elon Musk’s path and adopt energy-efficient smart homes.
What’s your opinion about the Boxabl Casita living unit? And if you had the opportunity, would you be willing to relocate to a smart home? Let’s know what your thoughts are in the comments section below.
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