Now the first thing that comes to mind when talking about smaller homes is the fact that everyone these days immediately thinks of tiny homes and their 200 square feet or less, or basically what I like to call a glorified bedroom on wheels. This isn’t the point of this article to go into tiny homes but rather smaller homes in the 800-1,000 square foot range to illustrate Smaller House Affordability. Smaller homes can be had by a multitude of people ranging from recent college grads looking to beginning their home ownership voyage, or all the way to retirees or empty nesters who are looking to downsize going into their life after their 9-5 jobs. The following reasons I am going to lay out for you are going to illustrate Smaller House Affordability.
Aside from the main fact that if you are staying in the same city with where you currently live, downsizing is almost always cheaper than a larger home. I couldn’t imagine a 2,500 square foot home costing less than a 900 square foot condo only a few blocks away. On top of this one of the main ways you save money initially is by reduction in utilities. As a rule of thumb it is going to cost way less to heat and cool a house that is more than 50% smaller than you current residence, so it should be no surprise when your utility bills decrease as a result.
Smaller House Affordability can also come with the time you are saving on upkeep and the cleaning of your home. With a house that is at least half the size of your current home, it is easy to see how cleaning the homes would turn into a breeze and cut hours off of this chore. It is also easier to keep with the upkeep of the home if it is only 700-900 square feet. Even normally big ticket items like roofs or siding will be significantly less if repairs are needed.
When you have a home that has half as many rooms to furnish as your previous home, you can see how you can spend the same as you did on your home except now you can get higher end items if you choose. If there is that new bedroom set you want, a bigger entertainment center, or an awesome bathroom remodel, you can have it because your house will be that much easier to furnish. It is a lot easier to furnish a 900 square foot condo with $10,000 rather than a 2,200 square foot townhome.
As you can see, Smaller House Affordability is easy to be had for the sheer aspect that you are having to manage a property that is significantly smaller. Smaller House Affordability saves on upkeep and utilities and will begin paying dividends for you immediately. If your finances are staying the same, you can count on having a lot nicer smaller home, or you can save this money for other activities you might want to partake on like exotic vacations. If you are looking to downsize, let’s work on getting your home sold and buying a new home. Please visit www.loanconsultants.org for all your lending and real estate needs.