Advantages of Living in a Small House

While the jury is still out on whether or not Tiny Houses -- micro-houses of 500 sq 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 of the smaller homes that have been prevalent through generations of homeownership in the US.  In many areas including Bozeman and the Gallatin Valley, there is a wealth of them.  To get into 'hot' neighborhoods without getting into the really high prices, small homes represent a real option for some to live in a central location. What a small home lacks in space, it makes up for in easy access to amenities and walkable neighborhoods.  And with ready access to VRBOs and other short-term vacation rentals, a homeowner can get away without having that spare bedroom.  (You can always put up visiting friends and family at a nearby Airbnb.  And why not share meals at nearby restaurants? You know you hate cooking for a crowd!)

     According to a recent post in the finance section of 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-2017-2 . The greater price appreciation of smaller homes is the result of people choosing a cheaper entry point into areas of higher demand, higher prices, and higher taxation.

     In addition to the greater rate of appreciation, the costs for maintaining a smaller house are significantly lower.  According to a recent article on Trulia.com,  the electric bill for a 1000-square-foot home is approximately $200 less per month than the electric bill for a 3000-sq-ft home on average.  Even routine repairs and maintenance are less expensive for a smaller house:  replacing a (smaller) roof, exterior painting, or redoing the floors, take less of a bite out of a homeowner's wallet.    https://www.trulia.com/blog/benefits-of-small-house-living/?ecampaign=con_news_digest&eurl=www.trulia.com%2Fblog%2Fbenefits-of-small-house-living% 

       And according to a Washinton Post real estate article, 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/wp-dyn/content/article/2010/07/08/AR2010070806792.html  Smaller houses come with some lifestyle benefits, among them a lower mortgage payment,  fewer large-scale social obligations, less time commuting so more time with your family, and less time spent cleaning. And that fake-leather living room set?  I'm guessing it didn't look good even 40 years ago.  But think of the family relationship(s) you've preserved!