- Lower Property Taxes
With building a smaller home comes the benefit of lower property taxes. A smaller footprint often translates into your home being viewed at a lower value, offering you a more favorable assessment on your property than neighbors with larger homes.
- Energy Cost & Consumption
With a smaller space, come lower energy bills. Studies show that heating and cooling costs alone are 13-20% lower in a home that is 1,500 square feet compared to a home that is 2,500 square feet.
- Environmental Impact
A small home simply uses fewer natural resources in construction, maintenance and energy consumption. The efficiency of a small home helps the environment and helps you live responsibly.
- Maintenance & Cleaning
The smaller the home, the less maintenance you have to worry about. Think about the cost to replace siding on a 2,500 SF home compared to a 1,500 SF home or the amount of money that can be saved when installing new flooring or tile. There are fewer windows to replace, walls to paint and gutters to clean. Regular household chores will be cut in half and if you hire a cleaning service, their rate will be lower.
- Less Clutter
Less space equates to less room for items that aren’t necessities. We all know that the more space we have, the more ‘junk’ we accumulate. Having a smaller home forces you to become more organized and avoid the accumulation of unneeded possessions. Think of all the unused items you’ll be motivated to donate to charity or sell on eBay and Craig’s List.
- More Financial Freedom
When living in a smaller home, the savings you’ll accumulate from having a smaller mortgage, lower utility bills and overall reduced consumption will add up quick. You will be able to free yourself from unneeded expenses and become more financially secure.