When you ask someone to describe their dream home, more often than not, they’ll describe one that occupies a lot of space. People tend to think that a large home is the best kind of home, especially for a household that’s growing both in number and in income. You can’t really blame anyone for thinking that bigger is better, but urbanhomes.com.au believes you might need to stop and think about how much easier and more practical it is for you to have a home on a small lot.
Less financial risk
Whether you decide to shell out on buying a lot and building your own home, or you pay an annual fee for your home loan or mortgage, having your own house and lot is an expensive business. You might be able to afford to have a large home, but the market for landowners can get quite unpredictable. The value of the large lot that you’ve set your sights on might not be as affordable as you think it is. In addition, larger homes mean larger value, but you need to secure that with constant – not to mention expensive – maintenance work. Small homes allow you to be financially secure while you set out to build a home of your own. Plus, you’ll have peace of mind knowing that your home’s financial value won’t go out of control unexpectedly.
As mentioned earlier, large homes are a bit trickier to maintain because of its size. With smaller homes, you’ll have much less to think about, maintenance-wise. This also means that you’ll be spending less on maintenance work and any necessary repairs. Overall, the upkeep for a smaller home won’t put a big dent in your budget – and you’ll still have the benefits of having your own place.
Homes in larger lots are fairly easy to layout and to design, because designers and architects have a lot more room to work with. With smaller homes, it can get quite challenging; you need to maximise a relatively limited space so that it can still serve the purpose of being a complete and convenient home. If you get excellent home designers, you don’t have to worry about maximising the space. Most of the time, the results are homes that satisfy both form and function. An added bonus: smaller homes are often designed to be environmentally friendly, helping you reduce your carbon footprint by a significant portion.
Smaller homes are cheaper, easier to maintain, and uniquely designed. They can even prove to be better than what homes in large lots have to offer. Start looking for small lots that you can work with and you’ll be on your way to building a great home out of a small space.