While the jury is still out on whether or not Tiny Houses (micro-houses of 500 square feet or less) are here to stay or just a passing fad, Smaller Homes may be just the thing for those looking to live in high-demand areas. Bigger than a Tiny House, small homes range from 1000 - 2000 square feet. Cottages, bungalows, and shotgun houses are all typical smaller homes, and Bozeman and the Gallatin Valley has a wealth of them. To get into 'hot' neighborhoods without getting into really high prices, small homes represent an option for some to live in a great neighborhood. What a small home lacks in space, it makes up for in easy access to amenities and walkable neighborhoods.
According to a recent post in Business Insider, it's not unusual for the value of small homes to rise faster than that of larger homes. In one region of Florida, small homes showed a dramatic growth rate of 19.5% each year (2013-2016), while the area's largest homes appreciated by only 5.1% during the same time period. http://www.businessinsider.com/are-smaller-homes-valuable-2…
A Washinton Post article informs that downsizing to a small home can come with some built-in offbeat perks, including: "You have a bulletproof reason to graciously decline Aunt Laura's offer of her lime-green, fake-leather living room set that might have looked good 40 years ago. You'll have no place to put it..." http://www.washingtonpost.com/…/…/07/08/AR2010070806792.html
If you're looking for your own bulletproof excuses to keep from acquiring more stuff from Aunt Laura, I can help!
Cheers!
Jennifer Walsh REALTOR