Bigger isn’t always better, and many homeowners found out this somber reality during the collapse of the housing market in 2008. Today’s buyers are decidedly more level-headed. In particular, they understand that a bigger home comes with bigger home issues.
Because of this, it many of today’s buyers are turning toward smaller homes from Phyllis Frankel Realty Group. Why? Because it just makes better financial sense. Here’s why a smaller home may be just what you’re looking for:
· Larger pool of homes – If you are looking for a home, you will soon find that there are typically many more small homes on the market than large ones. Because of this, you may be able to enjoy a larger pool of homes from which to choose in your home search.
· More flexibility on price – Because there are typically many more small homes on the market than large ones, you may be able to negotiate a better price on a smaller home. Because of the influx of smaller homes, sellers are usually more flexible on their selling price.
· Lower heating/cooling bills – Unless you need a large home with large rooms for a growing family, paying to heat and cool a large home just doesn’t make sense for most families. A smaller home typically comes with smaller heating and cooling bills, thereby allowing you to enjoy more money in your pocket at the end of the month.
· Lower maintenance/home improvement costs – Larger homes usually come with larger home improvement and maintenance costs, which can drain your bank account very quickly. For most people, it just doesn’t make good financial sense to maintain a home that they don’t fully use. Infrequently used rooms and spaces in a large home still need to be maintained and renovated, so moving to a home that eliminates these unused spaces is a smart financial decision for many homeowners.