In our world today, many people seek to have everything they wish for and our culture seems to dictate that going big is better to show that you are doing well. Homes we build today have doubled their per-square footage compared to the past. This is ironic in the sense that family units are getting smaller and smaller.
Technology has also enabled things to be more compact and smaller, meaning that you do not need a lot of space to live comfortably. When the recession hit some years back, it forced so many homes to cut back on expenses and people had to adjust to new lifestyles – and they did survive. It’s time to rethink what is really important. We will take a look at why you should consider buying a smaller house and let go the mentality of “bigger is better”.
Less Tax to Pay
Usually, the value of a property is calculated using the square footage of the land it occupies and the property value in turn, determines the property taxes. So that means you can make massive savings on paying taxes when you occupy a smaller house compared to a bigger one.
Fewer Maintenance Costs
Owning a home does not mean that you will not continue to spend money on it. You need to put in consideration the amount of money you will spend every month on expenses and maintenance costs. It is not rocket science, but you end up saving more on maintaining smaller houses than bigger ones and mind you, this continues for a lifetime.
Having a big home means you have a lot of space to spare. This sometimes may lead to overspending as you will automatically need to acquire items that you may not really need to fill up the spaces. You therefore end up with a lot of clutter in your home. In a smaller house, you spend money only on items that are of paramount use. You not only save money, but you also have less clutter around your home.
Lesser Energy Consumption
Having a big space is very comforting at times; but think of the amount of money that goes into paying heating and cooling bills each month. A smaller home is easier to be insulated and you end up saving more on energy bills.
Lower Building Costs
A smaller house is considerably cheaper to build compared to bigger houses. Think of it this way, you need lesser materials to build and thus lower material costs. In turn, you save a lot of money and you are able to spend on quality material, meaning you give more attention to detail.
More Outdoor Activities
It is not at all bad to spend time with your family indoors and perform indoors activities, but a smaller house can make the family start thinking about innovative ideas on how to spend more time on outdoor activities. Spending time on outdoor activities means you get to be involved in more vigorous activities and thus keep yourself healthier. You will also be more prone to spending time to get to know your neighbors, therefore building a better community around you.