I love tiny homes. I'm currently living in a micro suite and it's amazing! It 320 sq/ft and it's not a standalone home purchased on land, it's a rental unit, one of 24 units in the very first micro apartment complex that was built in my city.

I was worried that there might not be enough space for all of my stuff or that I would feel a bit confined, but the truth is it's absolutely perfect for me. I think it's really important to get the size that you need though. I don't know how well 320 sq/ft would work for a family with kids but it works really well for one person. Good luck!