Even though large homes have become more affordable, should you be buying one? Do you really want to live in a home that's 2,500 + square feet? The average size of new homes has been dropping in recent years. In the 1950's the average square footage of a home was 950, while in 2004, it was 2300. That's a huge difference in just a few decades. If you search recently sold homes in your own area, you will find that most of them are smaller square footage homes.
Living in smaller homes have a lot of benefits:
- Think about what it costs to heat and cool a larger home compared to a smaller home. Homebuyers often forget about this cost when looking at McMansions (bargain priced larger homes).
- Home-improvement projects, ie: repainting the exterior, replacing the roof, etc, cost more because of the size of the home.
- Furniture & Decorations. More home equals more house to furnish & decorate.
Because of their size, smaller homes reduce expenses. They have smaller rooms to heat and cool, less square footage to paint and a smaller roof to maintain. Monthly utility bills cost less & you'll spend less on home maintenance. You also save money on property taxes, (since you have less square footage).
- Small homes save time. It takes a lot of time to clean a big house and maintain the yard, unless you pay to hire a cleaning crew and a landscaping company to come in every week, which is an additional expense.
- Smaller homes make it easier to live simply. When you have a smaller home, you have less space to store belongings.
- Smaller homes mean quality splurges. It costs a small fortune to upgrade countertops or replace cabinets and appliances in a large kitchen. There is so much to buy that you may have to make sacrifices in terms of quality. Living in a small house means you can splurge on upgrades because you have less to buy.
When you live in a small house, you can use the extra time to play with your kids, cook & enjoy your hobbies.
Small homes may be easier to sell. As energy costs continue to rise, energy-efficient homes, especially small energy-efficient homes, will be in high demand. The empty mansions sitting on the market seem to indicate that the value of oversized homes are depreciating over time. When you need to move, your small home will be much easier to sell than a mega-house.
There is no doubt that small homes are seeing a comeback as people are realizing how cozy, comfortable & inexpensive they really are. Smaller houses just feel good & living in one makes it easier to be close with your family. In addition, the savings of smaller homes can really add up over the long term. A smaller home can be a Happy House!
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