If you’re in the market for a new home, have you considered something smaller? Even if you have a family, you may find a home that’s smaller than what you see yourself and your family living in makes for the perfect fit. Here’s a thorough rundown of all the great things about buying a home that’s a bit on the small side.
You’ll Save Money
One of the absolute best things about going with a smaller home is the fact you can save a lot of money. Even if you can easily afford a larger home, what’s the harm in saving money where and when you can as long as you’re satisfied in the end? Consider the fact that your ideal home may need a few repairs, which will cost money. Even if a smaller home needs some upgrades or repairs, they likely won’t cost as much as they would for a larger home.
You’ll Have More Time to Yourself
Think about how long it’ll take you to go from room to room cleaning in a larger house. Compare that to the time it takes to clean a smaller space. The time you save can be devoted to spending time with friends and family, indulging in hobbies or just taking it easy. While you’re exploring your Calgary real estate options, think about how long it will take you to scrub down, sweep, mop, dust and vacuum every square inch of the properties you look at.
Additionally, keep the size of the yard in mind as well. Sure, you can hire someone to take care of the job for you, but that may be money you don’t absolutely have to spend. Even if you do hire a landscaping service to take care of the yard of a smaller home, it won’t take the crew very long, which means it likely won’t cost as much as it would for them to care for mansion-sized grounds.
You (Likely) Won’t Be in As Much Debt
Smaller homes with a smaller price usually equal a smaller amount of debt you’re taking on. It’s true that for many people, their mortgage is their biggest expense, but there’s a lot you can do to reduce that expense as well as the amount of time you’re saddled with it. When you don’t need to borrow as much to afford your home, you don’t waste as much money on interest over the years. Looking only at smaller homes for sale in Calgary may make it easier for you to come up with a sizeable down payment, lowering the amount you have to borrow even more.
You Do Your Part To Protect the Environment
Maybe you’re doing everything you can to be environmentally friendly. If so, a smaller home is built with fewer resources compared to a larger home. Also, you can continue that sustainability over time by not requiring as many resources to maintain your smaller home.
You Won’t Worry As Much About the Whims of the Market
While North America’s housing crisis of 2007 and 2008 is over and done, the experience is one house hunters all across the globe can learn from. Specifically, if housing values were to drop in Calgary in the future, owning a smaller house could mean seeing a smaller dip in the overall worth of your property. With a larger house, you face a larger percentage of loss should the housing market plummet. What’s worse is the fact that such a crisis can last for several years, something that can impact your ability to sell your home should you decide to move in the future.
None of this is pointed out to stir your fears, just to provide you with a full picture of the possibilities. Such information helps you to map out your current and future finances immensely.
You could find yourself happier living in a smaller house than you would be in a larger house. Schedule some viewing appointments for small properties to see how you feel about them.