With the way the Real Estate market is today, many of my clients that used to have large homes will save money buying a small home in the same neighborhood. Also, many families are short selling their homes and finding themselves moving into a new rental home. Whatever your situation is, it is important to make your home work for your families needs.
Buying a small home can have many advantages and benefits for your family and your pocketbook.
A small home has many advantages over larger homes. They cost less to purchase and cost less to maintain, but making the transition to smaller square footage can be difficult unless you know how to make every inch count.
The first thing to remember is to be flexible. Instead of defining every room with a single purpose, allow each are to adapt to your needs and be able to make changes as needed. Just because your home has a master suite doesn’t mean you are bound to cram three kids into a second bedroom and keep the master for yourself and your spouse. It could be hard to give up the large bedroom, but giving your children the extra space may mean they now have room for all their toys and they won’t have to have a play area in the living room.
Make things as multi-purpose as possible. Downsize the amount of food you have in your kitchen pantry and repurpose that space into an intimate library or general utility closet. A large walk-in closet can hold clothes and serve as your crafting corner. A breakfast nook in the kitchen can double as an eating area and mini office.
Most homes today have multiple televisions, gaming systems and computer stations. Scaling back to one TV/entertainment zone can inspire family togetherness and ignite more daily interaction Another advantage to a smaller home is being able to easily keep an eye on kids, pets and guests. Since everyone is in close proximity, it is easier to hear what’s going on throughout the house.
Always take advantage of outdoor space. Even the tiniest patio or private deck can provide extra room for the family to spread out. Install all-weather curtains or shades to create privacy and lay down a waterproof rug to give it a cozy feel. A small cafe table is perfect for dining, doing homework, reading or relaxing.
Financially a small home will save you money each month. A more modest living space equals less energy consumption which equals lower utility bills.
Learning to work with your individual space is a fun challenge. The more you embrace the livability of your small home, the easier it becomes to see opportunities around every corner.