It's roughly the size of a large walk-in closet, but a Nova Scotia couple say their tiny dream home is close to completion.

Nicky Duenkel and Judy Pratt, of Cape Breton, are in the process of constructing a 175-square-foot, mobile and eco-friendly home nicknamed "Tiny."

"This is our home that is quite small in size, but has everything we need," Duenkel told CTV Atlantic.

The home, which is less than one-tenth the size of a typical suburban house, will allow the pair to have a newfound sense of financial freedom.

"We thought: 'Yup, we're going to build a tiny home so we can lower our expenses, and either work less or spend that money on friends and family," said Duenkel.

The couple expects to spend about a $100 a month in utilities.

And because of its size, the home is considered a travelling trailer -- so the pair likely won't have to pay property tax.

It only takes twelve paces to walk across the house, but the couple says it will have all of your run-of-mill amenities, including a kitchen, living room, bathroom, as well as guest and master bedrooms.

"Our biggest priority was for it to feel cozy … with lots of natural light," said Duenkel. "And also we spend a lot of time preparing good food for ourselves, so the kitchen is a big piece."

They even have room for some special perks to pamper their dog, including an elevator that will bring the pet up to the master bedroom.

Despite the size of the space, contractor Matthew Willox says that spacing out the home and putting it together was no small task.

"The design stage took quite a long time, and there are so many aspects of it that are unique," said Willox. "Everything has to fit just perfectly together."

While move-in day is in roughly a month away, the couple have yet to decide where they will settle down. They say since they will not be constrained by zoning restrictions, they could put down roots in Ontario, Quebec or stay in the Maritimes.

No matter where they go, the pair is hoping that their new home will be proof that good things really do come in small packages.

"What we have here is what you need, and not a place full of wants," said Pratt.

With files from CTV Atlantic's Ryan MacDonald