If you are married, once the kids grow up and move out, would you consider selling your bigger house and moving into a smaller one so you can save some money? Well, fact is, you'd save a lot of money on utility bills, maintenance, etc, etc. Is better to live in a small house/home do you think, because you save a lot of money?
My Mom is looking into selling her house and moving into a 55+ community, so she won't have to deal with outside maintenance. She's elderly, and is tired of worrying about shoveling and mowing (yes, she still does it herself sometimes), as well as roof and fence repairs. I think it would be a good move for her, because I'm sure it would also cut back on her maintenance costs, and those types of places tend to be very convenient to shopping, doctor offices, etc.
My parents are looking to downsize into a smaller place right now. I think it is a great idea if you are able to do so. I just got my statement from Social Security that shows the benefits I would receive each month once I retire, based on what I make right now and the income is not looking good. We plan to travel and spend some time away once the kids are out of the house. I would much rather save money living in a small house so the savings could be used to do some site seeing and enjoying life.
My parents decided to downsize to a bungalow when my brother and I were 16 and 17 and they did it more for running costs as central heating in the UK is expensive. (Especially as summer is 4 weeks a year) It does make sense, but it also depends on what you can afford and the area. Fortunately they moved less than a mile away to a new development and it suits them. Not having stairs and only one level does make it easier for them to maintain, cleaning and also with bills.
As much as I would love to save, I would prefer the larger home so my boys can come home whenever they want. I grew up with the family getting together for holidays and events; everyone would stay at my grandparent's home and I expect to do the same if my boys live out of town (if not, then a smaller home it is). I always want to have rooms for both boys to stay in and plenty of room for their families. I don't care if it's large, I just need at least two extra bedrooms and plenty of room to work something out as their families grow. But who knows.. we may not be in the position to keep a larger home and that will be fine too
There's no such thing as moving out where I'm from. I mean, America clearly has a different family narrative and most Asian households have their own culture as well. I don't think downsizing our ancestral home would be a good idea because relatives and family members who have supposedly moved out may visit and stay for a time with the new additions to the family. A better option for me would be to maintain the large house but use energy-saving and eco-friendly appliances and lights. I may also need a bunch of energy-savers in case there's a large party staying for a week or so.
I don't have kids or a life partner at the moment. But I can look ahead, and say that it is something that I may consider, according to how much income my family is able to garner each month. If we had to downsize, then I probably would. But moving house is stressful, and I can't see myself putting myself through that kind of stress unless I absolutely had to.
I love spacious houses and hate feeling claustrophobic in a small house. All my life, I've had to make do with small houses/apartments. So if ever I'm lucky to own a huge house, I'm not budging. I love big houses with open spaces, and a minimalist look is the cherry on top.
I am a little on both sides really. I like a big house, because it is nice to be able to have more space to have your things and move around, but sometimes you can have too much space! At the moment, we opted for a huge two bed flat, the downstairs is really big, with a massive kitchen, were as the upstairs is cosy! So we have best of both!
I only have a small house, a "two up, two down", as they are called in the UK. I've no plans to move though, I couldn't afford to heat a larger house right now. There's enough space for me and the OH and I will have paid for the house in full in 3 years time. So I'm perfectly happy to forego a little extra space in favour of being mortgage free.
I am looking for a mid size house that will allow me to have room for myself and my plants. I like to have many plants in my house more like a greenhouse type place. I do like to have a fair size house to avoid filling like I am in a box.
My husband and I are actually planning this. We have a small farm and we're thinking of just installing a prefab trailer-like mini-house (maybe a couple of these) and live there when all our children get married and moved out of the house. It started as a joke between us two when a prefab mini-house business opened up in the neighborhood. But the more we learned about it, the more we became interested. I want something like this:
If I had a family and was living in a large house, I would definitely move and scale down to start saving some money once they all moved out. Unlike some other members of my family, I'm really not sentimental about the home I grew up in. In fact I've moved so many times, I've become more appreciative of changing things up from time to time and moving somewhere new. Even if you were concerned about having a place for your kids to stay when they are in town to visit - look at it this way, all the money you are saving by scaling down, you could afford to put them up in a nearby hotel for a few days, and still be saving a lot of money in the process. No sense in paying for a larger house all the time when you don't need all that space, and it's seldom used. I think it would be more fun to take that money you are saving and start travelling periodically throughout the year, and enjoying some time away from home in some nice luxury hotel rooms.
It is actually becoming more common for family members to want to stay in hotels these days because people hate putting others out, and you can escape to your own place of privacy at the end of the day. I mean sure, when people crash at your house they save money, but lodging is an expense that is built into the cost of traveling for most people.
I've never had the pleasure of living in a really big house, so I've always craved space. If I did have a large house, I'd probably downsize when the kids flew the nest. But I wouldn't want it being too crammed. I wouldn't want to downsize to say a 2 bedroom place, I'd still want about 3-4 bedrooms.
Yes. I think living in a smaller house can help us save more money than living in a bigger house. It saves electricity because you don't need more lights or air conditioners. It saves water because you don't need to clean more spaces. Plus it saves you energy from cleaning more spaces. We have to be practical if we don't have much to spend. But if you're a rich man who has a lot to spend then I think it's ok to live in a big house.
I'd be fine with that. I don't really plan on living in a bigger place period unless I suddenly have an excess of kids, which isn't likely. (One is enough. Just one.) There's too much to do around larger homes, and, in my life at least, too little time to do it. My parents are kinda in the process of downsizing. I think they're tired of maintaining a super-beautiful lawn and a super-beautiful back yard and a super-beautiful everything, and just want a condo where everything is done for them. That'll drive my dad crazy, 'cause he likes his projects, but I think he's willing to make a bit of a sacrifice.
One of the easiest ways to save heating bills in a big house is to keep doors and windows sealed as much as possible in order maintain proper usage. The worst thing you can do in a large house is have one unit exhaust itself when trying to keep your house at a comfortable temperature. With that being said though, if downsizing helps you resist the temptation, go for it. Sometimes, however, the answer is a little simpler than switching locations.
I LOVE those mini houses, but think I'd have claustrophobia. I would need at least two .... one for my fabric and one for me!! I recently downsized from a 4 bedroom, 2 full baths, LR, DR, kitchen, family room, full basement home (I raised 3 beautiful daughters) to a 2 bedroom apartment in an entirely different state. We had owned the house since 1979, hubby passed (young) in 1984, so went our plans and dreams for our home. I raised the girls and the house was falling down around me because I couldn't afford to keep it up. I paid for lawn care and show shoveling. I finally said enough was enough, sold the house after 32 years, and moved south to where my daughter and 2 of my 5 grandchildren live. It was an ENORMOUS task to downsize, especially after 32 years accumulation and 3 kids ... but 4 years later, I'm happy as can be. I live in a complex ... no lawn mowing for me or snow clearing (not that we get too much). I have a kitchen, LR, 2 bedrooms, 2 full baths (why?) and a small sunroom. That's it. It was indeed a shock that took a lot of time to get over. I still don't have enough space, and am renting a small storage unit. (I'm a quilter/crafter and do craft fairs, etc.) I regret having to leave some things that were sentimental, but there's only so much room in a 2 bedroom. Costs? SOOOO much cheaper for heat, air conditioning, and water. I'm not horribly fond of the complex idea, having lived on my own for all that time, but for right now, I'll deal with it. I'm learning new things, making new friends, and would NEVER EVER move back to my home state (unless my youngest daughter who is still there) would need me. It was a good move for me, and I'm very happy.
I don't have any problem with smaller houses but sometimes the problem is the lack of space for furniture and other belongings when you live in a smaller house. It's cost efficient though if you only have a small family or if you're retired and it's just you and your partner who has to live under one roof. Our house is more of like an ancestral home though so I don't have any plans of sizing it down or selling it to settle in a smaller house. I'd prefer to keep it big and just focus on other money saving techniques to maintain it.
