Should i buy a smaller house

By searching out the lowest mortgage rate, you can decrease your monthly payments by hundreds of dollars. Finding the right loan can put you on the path to saving thousands of dollars over the lifetime of your loan, allowing you to maintain a lower debt burden, pay your loan off faster, or live more comfortably month to month.

When it comes to homes, size is all about perception. You can use the ethos behind tiny home living to help guide your own home purchase and get out of the renting cycle. Florida is known for its beaches, relaxed way of life, and balmy weather.

But what many people might not realize is that this state should be known for its affordability, too. The housing market today is incredibly competitive. Move-in ready homes that have the updates and amenities people want are often getting snapped up in a single day - and receiving multiple offers over asking price. Not surprisingly, some homebuyers are unwilling - or unable - to play that game. According to data released by Zillow , U.

Fewer homes going on the market paired with more people looking for homes led to bidding wars and skyrocketing home prices across the country. Interior of a Liberation Tiny Home Rather than looking for a contemporary, polished home, why not opt for a fixer-upper you can make your own, and focus on the parts of the home that truly matter to you — while saving money in the process?

Live Large in a Smaller Home When it comes to homes, size is all about perception. Her yard needs so much work all the time. Also, I believe there are lots of good and probably some bad realtors out there.

That is the same in car and every other business. You are responsible for the amount you want to pay. Not trying to say anything to offend anyone, but woman require more stuff. My husband and I just moved from a too big for us house. It had five bedrooms, a living room, family room, dining room and large kitchen, and The entire house was full of stuff.

It was nice to entertain and people to visit, but the upkeep was too much. Our new house has the Great room, where the kitchen, living room and dining area is in big room. I absolutely love it. A lot of people ask if we miss our big house. Not at all. That directly clashes with our Code of Ethics and fiduciary duties to our client.

Homeowners are qualified based on their income through the bank they are receiving the loan from. That is the job of the mortgage originator, and ultimately the choice of the client themselves. Realtors do rely on what the bank pre-approves. The author is not saying realtors encourage people to buy more than they can afford.

Yet the result sometimes is buying a bigger house than necessary because the bank and realtor said you can afford it. Two more great advantages to downsizing: 1 I now work a 4 day week and can still cover all my expenses and save for my retirement 2 Decorating is easier and less costly fewer furniture pieces and accessories are required and this has allowed me to really develop a cosy space I love with quality items.

My dream home in a small and affordable package. You made some great points about a small house. I have a small house and I mean prett small for a long time. However, being home so much this year has made me crave a little bit more space — not a ton, but some.

My daughter is not a toddler anymore — and clothes and shoes are bigger in general, and just her own person! Our closets are teeny we purge regularly and we share a bathroom.

Sometimes we all need a little bit more space and privacy. I kitchen is tiny, but well appointed. During the warmer months we used our backyard more than ever, but we are clearly finding that how we have lived since covid impacted our lives has changed a great deal too.

I agree with you. We live in a very cute, but small house: two people, two dogs, two bedrooms one of which is my home office. It has always been a tight fit, and just a little bit more personal space would decrease some of our stress. A closet for linens and towels. Covid has only exacerbated this. We have thought about downsizing but the cost of a smaller home in good shape in a good neighborhood is higher than the one we live in. Moving expenses and costs of redecorating another home is also a factor.

Yes, we live in a small townhouse for years. And, vacuuming is still a big chore that I hate to handle. Dusts are from everywhere and we like it to be clean. So it usually takes us some few hours to just do that. On top it is a two levels. We might need to get a second hand vacuum or on eBay to keep on each floor!

So quite large in fact for a townhouse. We might look next for a ranch home. I truly understand how downsizing can be beneficial. I sold a large large by UK standards 4 bed home, to buy a smaller bungalow. Health wise I could no longer manage stairs…. Homes in UK are incredibly small by comparison to the US to start with. Our smaller home, whilst fine by our standards may well be compared to a large wardrobe… in the US.

Whilst expectations and cultural differences are important, there is no denying I love my smaller home…. I guess you have a point that smaller homes require less time, energy and effort when it comes to its maintenance.

I found it interesting when you said that you get more time to yourself and less time taking care of your home if it is a small house. I hate cleaning and doing chores. I would love to have a small home that I can clean easily and then do whatever I want for the rest of the day.

What would you say to this situation? While we have enjoyed the benefits of massive decluttering since we moved, and being around each other a little more, a bigger house is needed of us. Hard to homeschool in a smaller house without taking over the kitchen and that ends up a chronic mess. Hard to have quality time with your spouse when the family room and kitchen are only 15 feet from the kids rooms this house has a poor floor plan.

So I hear you! I think the lifestyle plays a huge role in the choice between large or small house. You made a great point that with a smaller house, there is less cleaning to do and one will be less tempted to accumulate unwanted things.

Courtney has a journalism degree from UNC-Chapel Hill and has worked at newspapers and magazines as a reporter, designer, copy editor and managing editor. She started a weekly newspaper at age 23 and was executive editor of Lake Norman Publications outside of Charlotte, N. Email Address.

Create Account. Related Articles. This […] Read More. By Luke Daugherty February 26, By Cynthia Paez Bowman February 11, Although the […] Read More. Sometimes we homeowners are just ready for a change. If you want to replace the flooring or the countertops in your small home, you can more than likely purchase a higher quality product. Going back to my example for Daphne real estate, in the last 90 days there were 58 homes that sold with square feet between 2, and 3, They were on the market for an average of days.

For homes between 1, and 2, square feet, 73 homes sold in the same time frame and were on the market for an average of 90 days. Jeff can be reached via email at jeff livegulfshoreslocal. Jeff has helped people move in and out of properties for nearly 13 years.

Thinking of selling your home? I have a passion for Real Estate and would love to share my marketing expertise! Should you think about living in a smaller home yourself?