When talking about downsizing, most people think of small homes with a 500 square foot area.
Nevertheless, there are many advantages in residing in smaller areas.
To illustrate, a 1,000 square foot house is smaller compared to a standard house, but is not so small that you need to sign up for an organization to take up residence there.
According to the latest data from the U.S. Census Bureau, a newly built home has a regular size of 2,657 square feet.
People choose to purchase bigger houses for a variety of reasons:
- They receive a raise and get promoted at work.
- They want to impress other people.
- A big house is their dream home.
- They have outgrown their small house.
- A realtor has convinced them that they are able to afford a large one.
Another major reason why many people are buying bigger living spaces is simply because nobody advises them not to.
People believe in the society’s mantra “buy as big as you can,” and apply that when they start to make more money and decide to buy a new home.
It seems that the society make them believe to pursue bigger things, rather than smaller and just as valuable ones.
No one tells them the many reasons they can also be happier in a smaller home.
The following are the benefits of choosing smaller spaces over bigger ones:
1. Less risk and debt.
You can find a lot of online calculators to help you find out what kind of house is within your budget.
The answer is based on your savings, net income and current debt.
The formulas are also based on the principle that people should spend 28% of monthly mortgage payments from their net income.
However, if it is possible to spend just 15% and still be financially stable, you wouldn’t want to spend 28%, would you?
2. Spend less on utilities and other regular expenses.
The truth is, a 1,000 or less square feet property requires lesser cost of electricity, cooling, heating, taxes, upkeep, insurance, and so on.
Some other factors can affect taxes and insurance, but you can certainly save on utilities.
A typical 1,000 square feet house has about $200 electric bill every month compared to the electricity bill for a 3,000 square feet one.
You may also spend less on repairs and maintenance if you are living in a condo, because most homeowners association fees are measured on square footage.
You get a lesser monthly expense, if your condo has fewer square feet area.
3. You are closer to where the actions are.
You can find many available homes in high-end cities and they are under 1,000 square feet.
In most cases, you want to be checking out condo properties if you want to wind up in those types of neighborhoods.
It is actually a good trade-off since you do not need an extra space for a home gym equipment, when a gym is nearby.
You do not a huge kitchen, when you can stop at the market around the corner as often as you want.
4. Maintenance is effortless.
If you ask anyone living in over 3,000 square feet house, the answer you will likely get is that there seems to be going wrong in the house, more often than not.
It can be an electrical problem in the kitchen, a leak in the bedroom or a broken pipe in the bathroom. In reality, bigger houses need more repairs and maintenance.
And, only a few homeowners enjoy spending their weekends doing repairs. In other words, smaller homes mean less repairs and upkeep.
5. Faster and easier to clean.
Cleaning a 1000 square feet place is clearly less time and work as opposed to cleaning a 3000 square feet area.
You are saving a lot of time if you are cleaning your home regularly.
Have you ever moved a big vacuum cleaner all around the house, including to the second and third floors?
If you have, then you know it is tiring and laborious. Well, you can buy new vacuums, and use one for each level of your home, or you don’t vacuum anymore.
A huge residence urges the owner to put more things in it, which suggests more items need to be taken care of.
6. You become creative with improvements.
It is fun to splurge on some things you want to display in your big house. You are more likely to buy several off-the-shelf pieces of furniture so you can fill up a huge space.
But when you reside in a small house, you have some sort of buying limits. Moreover, if you decide to remodel, costs are greatly reduced.
7. Promotes bonding of family members.
A smaller house contributes to more interaction and closer relationship among the family members. This is more likely the case even if this may be the same reason why some people invest in bigger houses.
8. Broader market make a sale.
Generally speaking, a smaller house that is available on the market is more affordable to a higher percentage of the population compared to a bigger, more costly property.
9. Using less energy equates to a lesser amount of carbon footprint.
When you reside in small home, you consume less energy when heating or cooling the place.
As the costs of energy go up, smaller sized houses have become more marketable and the buyers’ choice rather than the bigger ones that have more living spaces.
10. Help minimize upkeep expenses.
Bigger houses normally carry higher selling prices for general maintenance such as installing new windows, painting, re-roofing, and so on.
Opting a small house also signifies having lesser expenses during your entire stay in your home. You also have a better chance of being able to pay those unexpected charges.
11. They Have Better Neighborhoods.
Compare the experience between walking in a modest pre-war area and a neighborhood that is constructed after the 1980s?
Probably, the newer houses are grand and impressive mansions with narrow and barren land.
Their garages tend to be visible, meant for small vehicles, bikes and garden tools.
On the other hand, the pre-war subdivision comes with smaller single-story residences situated closer to the sidewalk.
They have wide porches at the front, garages at the back filled with trees. Strolling around the pre-war area now becomes jogging in newer neighborhood.
12. More cost effective to construct.
Smaller houses are usually less expensive to construct. An attention to detail can result in lower costs of materials, and you have a wide variety of high-grade materials to choose from.
You need to use less roof, less flooring, less foundation, etc.