The traditional dream of a large and spacious home may be becoming a thing of the past. More and more people see the benefits of living in a smaller home. When you buy a house, there are a lot of expenses you have to face beside your new mortgage payments. Heating, electricity, insurance, and property taxes are just some of the additional bills you have to pay when you own a home. And the bigger the house, the bigger are the expenses.
Of course, there are lots of people who keep buying bigger and bigger homes, because they “outgrow” their smaller one, they receive a promotion at work, they are convinced that they can afford it, they hope to impress others or they think a large home is the home of their dreams.
Let’s look at the main benefits of living in a small home:
- Home maintenance and utility cost. Think about what it costs to heat and cool a 3,200-square foot home. Home-improvement projects such as repainting the exterior, replacing the roof or changing the flooring cost more because of the size of these homes. You will also spend more money to furnish and decorate all of the extra rooms. Although in a small house everything gets used more, there is less to break, and therefore less to repair. A smaller house is cheaper to heat and light, but also cheaper on insulation, windows, and solar. You also save money on insurance and on property taxes.
- You spend less time on cleaning. Anyone who has owned a house knows the amount of time, energy, and effort to maintain it. Living in a small home means you spend less time on housecleaning and maintenance. When you live in a small house, you can use the extra time to spend with your family.
- Living in a smaller home is mentally freeing. Buy small and free your mind!When you have a smaller home, you have less space to store belongings. Moving into a smaller home forces you to intentionally pare down your belongings. Living in a smaller home forces you to make choices about what you keep and what you donate, sell or give away. A smaller house is also easier to organize.
- Smaller homes allow quality upgrades! It costs a small fortune to upgrade countertops or replace cabinets and appliances in a huge kitchen. You have to buy so much more that you may have to make sacrifices in terms of quality. Living in a small house means you can splurge on quality upgrades because you have less to buy.
- Wider market to sell. A smaller, more affordable house is affordable to a larger percentage of the population than a more expensive one. So small homes may be easier to sell. Energy costs continue to rise. That means energy-efficient homes, especially small energy-efficient homes, will be in high demand in the future. When you need to move, your small home will be much easier to sell than a mega-house with six bedrooms.
- Family bonds. A smaller home results in more social interaction among the members of the family. People start to realize how cozy, comfortable and inexpensive small houses can be. Smaller homes just feel good, and living in one makes it easier to be close with your family.
Many people dream of having a large house, but, bigger is not always better, and there are just as many benefits to living in a small house, as there are to living in a big one.
If you need help in finding the right home for you in Durham Region, don’t hesitate to contact me. Whether you wish to buy a big or a small house, my goal is to get you the best home possible, without compromise at a fair price. With over 20 years of local, full-time experience, I will make the home buying process smooth and worry-free.
Re/Max Rouge River Realty Ltd., Brokerage
905-668-1800 or 905-427-1400