10 Good Reasons to Downsize Your House When You Next Move

small house

When most people move, they are looking to move into a bigger place. I would suggest considering an alternative view and instead of going bigger, look to find the smallest house which will still comfortably meet your needs. Why? Because of the many money saving advantages that come with downsizing which will allow you to spend money on the things that you really love. Being contrarian when it comes to your house size has a ton of financial benefits. Here are a few of them:

Reduced Mortgage Payments

Home loans are usually the largest financial expense for homeowners. Depending on how your house is financed, your payment could be a large portion of your monthly net income. If you’re pl

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6 Responses to 10 Good Reasons to Downsize Your House When You Next Move

  1. John | Married (with Debt) says:

    The new IKEA house looks pretty neat. Small, minimal and easy to live in.

  2. Jay says:

    Well said. Our goal is an AirStream!

  3. daz says:

    What a timely article and I am living it! We moved from Cleveland, Ohio from a beautiful BIG house- 5 bedrooms built 1920 for railroad executives to Norfolk, Va into a rental beach cottage. The clev house had 5k sq ft- double yard. We got it for a song 90k in the late 90’s cuz it was so neglected and needed major repairs. Well @ least 30k in repairs later we have the paid for home up for sale @ a steal for 80k. I loved that antique house but what a money pit! 8k new roof, kitchen remodel, new wiring, plastering, bla bla bla. Now this cute little gramma house across the street from the chesapeake bay for 795 a mo and no repairs! I wont buy another house fo a million bucks! just sayin’

  4. daz says:

    a quick correction. The house up for sale is 1500 sq ft not 5000!. PS What do you think of those really cute supersmall houses about 300 ft sq ft total? Some in containers- some on a trailer?

  5. Rosie says:

    I so agree!! I especially related to your point about lower taxes. A coworker just bought a big house and her comment in retrospect was ” I got a great house at a great price but I wish I had looked into the taxes. I am paying $4,400 a year in taxes.” I thought to myself OUCH!!!

  6. winona says:

    This might seem obvious, but it’s still one of the best reasons to buy a smaller house. Like most things, the bigger something is, the more is costs. Houses are no different. A small house will ultimately cost less than buying a large house. When you decide to downsize, keep in mind that you’ll be paying a lot less money for a smaller house than you would for a larger house. If you’ve just sold the house you’re moving from, you’ll hopefully have left over money to spend in the ways you want!

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