Small House Living is not a new concept, but with the recent global recession small housing is getting a lot more attention. There are many reasons to live in a small house, but why live in a small house? Here are some reasons to consider living in a small house.
1. It’s Cheap
It goes without saying that most likely, your small house is going to be cheaper. Who doesn’t like having a small payment each month.
2. Can open you up to opportunity
Owning a smaller house produces a lower commitment than a larger home, and with this lower commitment, there is more flexibility when it comes to relocating for potential opportunities. Imagine you are offered a career of a lifetime, but you are forced to relocate. Now imagine how much easier it would be to relocate if you had a $50k home versus a $200k home. Let’s also not forget that you have to pay an estimated 6 to 7% to get out of most homes, which means it will cost you about 400% more in fees to sell your 200k home. If you aren’t able to sell right away, you also have much lower carrying costs in the smaller home.
3. Helps you Escape “Consumer Treadmill”
A lot of people can most likely relate to the idea of a “consumer treadmill.” By actively living below your means, you will much less likely to allow your lifestyle to creep up to a point where it consumes the majority of your income. Living in a small house will most likely give you better perspective of what is important when it comes to spending your money.
4. It Forces you to Downsize Possessions
If you have a 700 square foot apartment full of crap, there is a good chance you will have a 2500 square foot home full of crap. The idea of furnishing a large space can be daunting and expensive. Also with more storage room, usually comes more stored items that you don’t really need.
5. Less Hassle and More Time
Less time messing with a giant yard and home maintenance and more time for loved ones and activities that you enjoy.
6. Living more “Green”
Small house living also promotes smaller energy bills and less maintenance that results in waste.
For more information on small house living, check out “The Tiny House Blog” (one of my favorite blogs.)