I both agree and disagree to move to a smaller house when the kids are grown and have a family of their own. It is economical to stay in a smaller house for the maintenance is also smaller. However, there is the sentimental value of the family home that in the future would be considered as the ancestral home. If you have enough funds to tide you over for your old age then it is better to retain your big house. But if on the contrary then I guess you just sell and find a smaller house in the suburbs. That would leave you with more cash.
I think I would go to a smaller house, because, maintenance cost and utility bills would be reduced and there would be less upkeep work to do, so I would be enjoying some relief in a number of areas.
I think having a smaller house when the kids move on would be a good idea to be able to save money on utilities and other household expenses. I also think it would be great to save time keeping the house clean. I have been watching the show about tiny houses and think it would be kind of cute to live in one.
A smaller house is likely to be cheaper and will likely save on costs. But it will also depend on the neighbourhood you have decided to settle in. It would also depend on the materials it is made of. Another overlooked thing is the intangible cost. For example, a smaller house might be congested or too restrictive and this might eat into the positive dividend emanating from moving into it by decreasing productivity. It would not be easy to start a home based cottage industry for example.
Living in a smaller house is quite okay with regard to the cost imperative. To avoid congestion, it is recommended that one chooses a circular structure if possible due to the fact that it avails more space. Some people opt to look for bigger houses and then sub-divide the unit among themselves though this poses some challenges depending one's adaptability. I would suggest that one moves into a cheaper neighbourhood.
For me, a home need not be big or small depending on your need. The size of the house should depend on your desire. We have a 3-bedroom house which is quite big for me and my wife. But considering our things, our house is just right for us. In fact, we had constructed an extension that made the 4th room which is now serving as our stock room. Being satisfied and happy with the home is my top priority so we don’t mind the expense as along as we enjoy living here.
I find it illogical to find the possibility of saving money when the size of the house is small. We live in a small house and living with us three families including us. We have much to pay for our water, electricity consumption. Small house doesn't generally guarantee that you could save a lot of money. The utilities for example, I have cited, aren't in any matter warrant for cost savings if most of the members in the family are using electricity to the maximum. And for a growing family, small house isn't ideal to accommodate the number of family members.
Being very honest, I prefer big places... But, I wouldn't mind living in a small place, as long as I (and the people who are living with me) am happy with that decision. The size of the place doesn't dictate your happiness (in my opinion, thinking like this is very superficial), but rather the people who are in the place with you.
We moved into a smaller house when we bought because we were looking for land and a house that we could afford. We lost about 500 square feet from what we are used to, but are managing just fine. I actually like living in a smaller house now because it is easy to clean and cheaper on the electric bill. Home remodeling is also a little cheaper because we have less space to work with. The master bedroom and kitchen are quite a bit bigger so it was a nice trade off. I want to live life and not be stuck home due to lack of money and stuff.
While a small house may sound like a good option for a single person or for a couple who aren't expecting many guests, I have always been for larger and spacious houses. It is also possible to keep small houses spacious with minimum luggage. This definitely helps in cut down cost and easy tidying. I get tired cleaning my big house!
I appreciate the extra space in my house because I get to use it for leisure and exercise. I worked hard to buy this house for myself and my child and I don't see myself moving out and preferring to live in a smaller place someday. I'm actually looking forward to having my child and his future family here instead of me living alone at retirement. My house may yet turn out to be too small for us then. I can always cut back on unnecessary expenses to save cash instead of moving out to a small house.
Well if you're only two people, then it might not seem that bad, living in a smaller house might make it feel less empty and cozier.
You can save money if you are living in a small house. let me illustrate this, if your house is big you need big amount of water and detergent to clean your house, you need more furniture, more carpet etc. However, when you are in a small house you can do with things in small quantities. Big house also mean big work, small house means less work. If you have a small family, choose a small house to live.
I have always known that this is something that is in my future. I have always been a person not to do things in excess, and I just cannot see the point in paying for space I do not use.
Selling a house takes time, plus if you don't really spend that much in bill and utilities then it's better to keep the house. Because you'll never know, you might not like your new neighbors or the place that you're moving to might be haunted, etc and other unexpected surprises. Also, if you live in a 2-bedroom house, then moving is not needed at all since the house is already small to begin with.
I think this depends on a lot of things and situations and even then when you make a choice for a smaller house you could still run into problems. A small house is easier to maintain and clean I think and it can give you a sense of freedom as well. You can free up more time for yourself and its more cozy and comfortable and easier to heat or cool which are some good pros for moving to a small house- these things can make you very happy !
you're definately right as a mid-range sallary person, but if your activity allows you to stay on your house, why not?
