How a Small House Can Save You Money

The average square footage of a house in the United States has increased from 1,660 square feet in 1973 to 2,392 in 2010, according to the U.S. Census Bureau. That can be a lot of area to clean each week.

A smaller house of 1,000 square feet or a tiny house of 500 square feet can drop the cost of buying cleaning supplies. There are other ways to save money with a small house, too. Here are some:

Home Price: A smaller home will likely cost less to buy simply because it requires less land and fewer materials to build. That doesn’t mean you have to have less land, though. Paying less for a small home can give you more money to spend elsewhere, such as buying open land that can be enjoyed in other ways.

Lower Costs: Taxes, insurance, heating, cooling, electricity and possibly water costs can be lower in a small home. A lower home price will get you a lower property tax bill, your insurance costs will be less, and powering a smaller home can be cheaper.

Less Maintenance: A small home has fewer things to break. There will be fewer pipes to burst, for example, and fewer things overall that can go wrong. A smaller roof will be cheaper to repair or replace, less square footage means less floor area to redo, and fewer walls need less paint.

Less Clutter: Along with fewer rooms to clean, a small home helps declutter for the simple reason that there’s less space to store things. It requires homeowners to focus on the necessities, and to not store clothes or other unused things for years.

Ability to Buy in Popular Neighborhoods: A high-demand location can be easier to buy into with a home that’s 1,000 square feet or less. A 3,000-square-foot house may not be affordable for you, but a smaller condo or home can be and can still get you close to the amenities you want. Having a gym, good public transportation and other amenities of a metro area close by can save you money in other areas.

Ultimately, buying a house is about creating a home. Smaller can be better in a number of ways, including feeling cozier and giving you the chance to afford a home that will at least get you started as a homeowner.

I hope you found this helpful. Contact me for more home and real estate insights and info.