Are Small Homes the Future or a Fad?
For people who love the great outdoors or who simply want a little place to call their own without great expense or the hassle of expensive repairs and upkeep on a large property, small homes can be an ideal choice for purchase. From tiny houses to simple living spaces such as cottages, here are just a few reasons that small homes might be here to stay.
1. Simplicity as a Lifestyle Choice
In many ways, the small home movement of recent years gained traction as more people wanted the rare luxury of a simple and affordable life. Indeed, the "tiny house" movement became popular as a new generation of homeowners sought out a simplicity in lifestyle that was matched by top-notch materials and comfort. These qualities in a home are likely to be sought after for years to come, meaning that properties like tiny homes are here to stay.
2. When Less is More
Another reason why small homes have become so popular is that the value of frugality has increased among homeowners following the 2008 recession. As more people find that small homes can provide less financial risk when economies get tough, the value of a more modest use of space is becoming clearer. With less expenses, small homes simply provide much less of a hassle for less money.
3. Creating Extra Money for Land
Perhaps one of the greatest reasons to invest in a small home is that extra funds can be spent on land. Whether you're investing in a tiny home or a moderately small log cabin, placing additional savings into the natural world around the home can be psychologically beneficial. After all, who needs a huge living room when you're surrounded by acres of beautiful forest?
4. Passing On the Value of Simplicity
Moreover, for homeowners hoping to pass on the value of simple living to their children, a small home can be a great way to demonstrate how thrift and simple living can be a great way to save money and value the important things in life. For many people, this is one of the primary values they hope to pass on to the next generation. That fact alone is enough for many people to discover a new small home of their own!
For these reasons, finding a small home that is right for you may just be a long-term investment that pays off greatly. With the right attitude and a flair for adventure, the small home market might be an area to explore this year.
Gennady Barsky is the Vice Chairman and Chief Financial Officer at JetSmarter