Tips & Solutions

Why more buyers love the benefits of living small

When you’re buying a home, you sometimes tend to lean towards thinking bigger is better. After all, this means more space for family and guests and feeling guilt-free about holding on to the clutter that can inevitably build up over the years.

But, bigger isn’t always better and we’d like to suggest an alternative. According to Jaime Pratt, head of PM at VPM, whilst many buyers are attracted by the benefits of a larger home, buying a smaller home for many home buyers is actually a better lifestyle decision and a chance to benefit from a less complicated living space. 

This is why:

1. Small means simple
Buying a smaller home can mean that you get to benefit from simplifying your life. “In today’s complex world, where we face so many daily demands on our time, simplifying your home life, getting back to basics and finding easier, more productive ways to do things, can reduce stress and let you focus on what really matters most to you,”  Jaime says. 

2. Less maintenance
When you buy a smaller home, there are fewer areas to maintain and less time spent on its upkeep. Through conversations with owners of smaller homes, Jaime has noted a common theme: less cleaning and elements will degrade over time, so there’s a reduction in things that can go wrong. You’ll have more time on your hands and nothing to worry about in the short term. There’s also likely to be not as much mid-level to major work required on your property in the longer term.

3. Lower cost of living
Less maintenance also means the cost of maintaining your property will be more manageable. “On top of this, you’ll have cost reductions in many other areas, such as energy and furnishing, and an overall lower cost of living day-to-day, which can potentially significantly increase your savings in the long term.

4. Indulge in quality
Decreasing the size of the home can open up cash flow to be able to indulge in quality living and finishes while still staying within your budget. “You might be moving to less space, but it could be newer than your current larger home, newly renovated or has high-quality features that you don’t currently have, making for a more comfortable lifestyle,” Jaime explains.

5. Live the good life
A small home is the answer if you’ve ever wanted a more homely, cosy place to live. A quick web search shows beautiful scenes of cosy living that give a deep sense of warmth and comfort, which can make your home a great refuge from the outside world.

6. Live a life of convenience
When you’re downsizing, you might have more opportunities to purchase in a location closer to all the conveniences you need. You can enjoy walking distance to shops, restaurants, entertainment venues, public transport and a shorter commute to work, saving you time every day.

At the end of the day, you need to compare your priorities so that you’re clear on what you want and what you need in a home and also consider what you’re willing to compromise. Jaime recommends at least considering the benefits a smaller home can bring. If you’re ready for a change, the expert team at Vogue Property Management can help you make the move.