Living in a smaller house has many advantages, but it certainly has some downsides as well. Similarly, a large or even a mid-sized home has its own pros and cons. Based on your lifestyle and life goals, you probably have a size of a home that you are aiming for.
If your heart is pointing to a smaller home, how can you make sure it is the right choice? Here are several signs that may mean you should be living in a small house.
You want but can’t afford high-quality materials
A house that is constructed with high-quality materials is bound to be expensive, and that cost is directly proportional to the size of the home. Hence, say, if you want timber decking for your home, a smaller house might be the right compromise. You’ll get to choose high-quality materials, but you will have an easier time staying within your budget with a smaller house.
You are part of a very small family
If you have a very small family or plan to have one in the future, it is a clear sign that a small house will work well for you. Families with only two or three members can make the most out of a smaller space and thrive in it. Furthermore, making this practice choice can free up more money for other expenses, such as family vacations, college tuition, and healthcare.
You are an empty nester
The kids have already left, and you don’t care much for the extra space they have left behind. If this is the case for you, now may be the right time to downsize to a smaller house.
This is a common problem for many empty nesters (a.k.a. parents whose children have already grown up and moved out). Aside from the empty space, it takes a lot of time and energy to maintain a large house with only one or two living in it. That said, moving to a smaller house can make housekeeping much easier and the space less lonely with no children left behind
You plan to travel frequently
If you plan to jet-set around the globe for most of the foreseeable future, it makes much more financial sense to purchase a small house instead of a bigger one. After all, you won’t be using the space as much, so why not stick to a small house that is not only cheaper but is also easier to maintain?
Moreover, buying a smaller home can reduce a lot of your expenses, including mortgage, insurance, and maintenance. In turn, this can help you fund your travels until you decide to come home. And while you are away, renting out the house can provide you with passive income that can further line your pockets with additional travel funds.
You want to save money
In most places, a small house is inherently less expensive. However, this will depend on the state where you plan to live. In expensive states, starter homes cost around $150,000 to $250,000, while starter homes in affordable states can go as low as $40,000 to $50,000.
Either way, choosing to live in a small home can help you save a significant amount in housing costs. Aside from lower mortgage payments compared to larger homes, you also have reduced expenses on maintenance, utilities, and insurance, making way for a better cash flow.
You want a simple lifestyle
If you don’t care much for hobby rooms or sprawling backyards and instead want to live a simple lifestyle, this may be a great sign that you should be living in a smaller home. Although small homes tend to have limited space, this also means less upkeep. And if you’re someone who doesn’t see the practicality in cleaning, maintaining, and repairing an unnecessarily large space, choosing a smaller home is likely the right move for you.
You want to reduce your impact on the environment
Smaller homes tend to be more eco-friendly than larger ones in many ways. For one, a smaller home requires less energy to keep temperature-controlled. You also use fewer products to clean your home, which can be damaging to the environment. And if you’re building your home from scratch, you will also have to use less material to construct it.
Living in a small house is not practical for everybody, which is why you need to think twice before deciding to buy one. However, if these signs apply to you, then living in a smaller home is likely the right choice for you.