Streamlining Your Home Search - Why Smaller Might Be Better
Posted on: 8 June 2016
If you are in the market for a new home, you may be interested in downsizing your life a bit and moving into a smaller home. Depending on your personal situation, a smaller home might actually be a better fit for your lifestyle. Here are four reasons a tiny home might be a better fit when it comes to your homebuying needs.
1. You are Always on the Go
If you aren't home that much as it is, there is no reason to put all of your money into a big house you might not really be able to enjoy. Whether you are always out on the town or traveling near and far, a smaller home won't feel so overwhelming if you aren't really a homebody. While you can still enjoy a nice home, yours might just be a smaller version that will be more in line with your on-the-go lifestyle.
2. More Financial Freedom
You will be working closely with your real estate agent and financial advisor when it comes to what you can afford and the types of homes you can realistically purchase. You may be able to get an entirely upgraded smaller home as opposed to a larger fixer upper that will need a lot of financing to upgrade. If you can find a smaller home below your pre-approved loan amount, you will be able to benefit from a smaller mortgage and property tax payments down the line.
3. Closer to Urban Areas
By opening up your home search to smaller homes and even condos, you can get closer to the action and be near urban spaces. While large, stand-alone homes have their charm, these usually are away from the hustle and bustle of downtown. If you see yourself taking in the benefits of an urban environment, buying a smaller space nearby will be a benefit and not a hinderance.
4. Easier to Maintain and Clean
A smaller home means less space to keep up, inside and out. This can make cleaning and organizing a snap, if these aren't your favorite activities to begin with. Major upgrades and emergency fixes might not be as hard to handle in a smaller home where overall upgrades are smaller and more affordable as well.
If you are toying with the idea of switching gears in your home search and looking for something with less square footage, it is important to revisit your needs with your real estate agent. There might be amenities you'll have to forgo, such as a washer/dryer or a yard. If you know what you can live without, you can still find your dream home, even if this is smaller than you might have imagined at first. Contact a real estate agent in your area to find out more about homes for sale.
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