Frugal, Smart & Green
The recent downturn in the economy has many homeowners scrambling to find ways to cut their household expenses. And many who are in the market to purchase a home have turned their attention to smaller, “greener,” and more energy efficient homes. The current glut of “McMansions,” some with values 40% less than their original price, is an indication that many buyers are considering a change.
However, downsizing isn’t for everyone, and it can bring significant and unexpected changes for those who approach the concept without reflecting upon the consequences. If you are considering buying a smaller home, you should do your homework before taking the plunge, and realize that your new home may not accommodate guests as readily as a larger one did; that your furniture may not fit; or that you may not have the same space for crafts or projects. Significantly changing your lifestyle can be difficult, and for some, almost impossible. It’s best to analyze the possibilities upfront.
But if you are one of the thousands who have decided that less is better, the benefits can be surprising. To begin with, there are numerous financial advantages to buying or building smaller, and owners will experience other benefits that can’t be measured in dollars. Smaller homes are easier to clean, maintain, and afford their owners more time for other interests. Downsizing also forces us to get rid of the clutter and unnecessary items that some amass over decades.
Not to be minimized, however, the financial benefits appeal to most everyone. Taxes and insurance can be dramatically less, and smaller homes require less furniture and “stuff.” Selling a larger, more expensive home may also generate extra dollars that can be used for savings, investments, and college tuition; and for some lucky sellers, the sale may provide the funds to be mortgage free on their new home. Even if a mortgage is necessary, it will probably be less than the original, providing additional cash flow that may be used to improve lifestyle.
Smaller, more efficient homes require less energy, cost less to heat and cool, and are more environmentally friendly. Buying a smaller home also causes the owner to be more aware of impulse purchases, since there will be less space for personal items or additional belongings.
If you are considering building a smaller home, we have partnered with DK Designs, Inc., a prominent national home designer; and we have included a sample of their most popular homes for downsizing. Click on the plans we showcase and discover the advantages of building smaller. If, however, your needs are for something larger, they offer hundreds of other plans that range in size up to 5,000 square feet.
If you would like more information on these or other plans from DK Designs, Inc., you may contact them at:
DK Designs, Inc.