You feel ready to become a homeowner, but what size home do you envision for yourself? Even if you have a spouse or want to start a family, you could be happier with a small home rather than a standard-sized home or something larger. Here are a few reasons a small home could be the perfect choice for you.
Home maintenance is part of being a homeowner. If you want to spend less time, energy and money on keeping your home looking its best, consider buying a smaller property.
Of course, living in a smaller home comes with a smaller cost compared to a larger residence. With a home purchase Loganville GA, look past the upfront cost of the home. That means considering the cost of insurance, utilities and taxes. Over time, those additional costs can add up, leaving you with less money to devote to your other financial obligations.
Less Risk and Debt
While being a homeowner can be great, it’s not without its share of risk. If something should happen to your income, you may run into trouble paying for your mortgage, homeowner’s insurance and repairs. A smaller home comes with less risk. Even if you can afford a larger home, why take one more debt than you have to? Smaller homes equal a smaller mortgage, which means you have more money to put into your savings account, save for retirement or put into an account for those inevitable home maintenance projects.
More Time to Yourself
Ask friends and family who have a standard-sized home or a larger home how much time they spend on cleaning and yard work. You don’t have to sink as much time into such tasks, freeing you up to pursue hobbies, spend time with your loved ones and just relaxing.
Do you see a smaller home in your future? Explore your options in the neighborhood of your choice before checking out larger homes.