Letâ€™s put things into perspective, though. Having a large, show-stopper home doesnâ€™t equate with family happiness. Many families in centuries past lived happily in one room cabins and small-scale homes.
There are social benefits to sharing tighter quarters. Some families feel that smaller homes forces more together time, which means more time for bonding and strengthening relationships.
Smaller homes mean reduced costs across the board. Usually, property taxes are lower because they are based on the value of your land and home. While more prestigious neighborhoods and homes within city limits typically pay higher taxes, keep in mind that a smaller home in that same prestigious neighborhood will pay a smallerÂ dollarÂ amount in taxes each year. Maintenance costs are also lower. It costs much less to replace a roof on a 1,000 square foot house than it does on a 6,000 square foot one!
The same goes for home insurance and, letâ€™s not forget, the actual purchase price of the home. Reduced size means reduced costs.
Perhaps the most important item is reduced energy costs. Smaller homes take less energy (and money) to heat and cool. Plus, there are fewer rooms and that means fewer lights to be left on!
If youâ€™re thinking of entering the housing market and are feeling trapped by shrinking budgets, just remember that smaller houses can be just as charming, functional, and full of love so contact An Agent that is â€œWith You Every Step of the Way and put an end to your home search!