Buying your first home is a very important milestone in your life, and while the size of your first property may affect your decision to buy, it should not be your only basis when considering buying a place to call your own.
Bigger is better, right?
Not always.
For many, living in a large home is impractical. Globalisation has made it necessary for many people to constantly move around and travel for business. Relocation has become more common, which is why small is now the new big.
Still not convinced? Here are five more reasons why living small is living big.
1.Less mortgage payments
Mortgages are lower when there is less square footage. A lower mortgage means you will be able to pay off the loan more quickly and with less financial strain.
2.Lower maintenance cost
Maintaining a big, beautiful home may seem like such a dream, but that dream can quickly turn into a nightmare when you realise just how hard it is to maintain a big space and to pay for all the upkeep costs that come with it. Smaller spaces leave more room for do-it-yourself projects, helping you save money on labour.
3.Less clutter
Living in limited space means having to cut down on unnecessary possessions; sometimes, being forced to buy less can even help people spend more wisely and make smarter buying decisions.
4.More environmentally-friendly
Having a smaller home means more savings on natural resources. Heat and electricity bills are lower, and the entire space requires less energy in general. Also, it would be easier to go green when your property is not very large and will not require too many renovations to accommodate greener alternatives.
5.More room for creativity
Limited space means having to get creative in maximising the space you have to work with. Shelves and organisers make the perfect addition along with other original storage solutions you can come up with.
You can go big if it has always been your dream, but remember, when it comes to purchasing a house, small is a great and flexible option too. Get in touch with your preferred residential real estate broker Victoria to get assistance with finding the most suitable property for you.
