Why Financial Experts Recommend Buying a Small House
Everyone dreams to have their own house and land around it. Most people dream of having a large house and estate. Be that as it may, few people are still choosing to purchase a small real estate property. These people living in a small home still dream of living in a large house. However, due to their limited financial resources, they are forced to settle for a smaller house. There are still some positive aspects of having a small property. According to financial experts, a small house have financial benefits. So why do financial experts recommend buying a small house?
Easy to Maintain – From replacing the parts or repairing broken areas to maintenance services like pest control and appliance maintenance, a small house will cost lower than a bigger house. If the area is small, damage areas to be repaired is also smaller. For parts replacement, the smaller house have fewer parts than a big home. The home appliances also need regular maintenance and the small house often got fewer appliances thus the maintenance cost is also fewer. Pest exterminators would charge their service depending on the area of infestation. With all of these, a small house is a lot easier to maintain.
Lower initial purchase and monthly consumption – It is a fact that the cost of a small property is lower than a larger property. With the initial investment alone, people can save a lot of money if they choose to purchase a small house. Meanwhile, the monthly bills from the water, electrical, gas and other consumption are much lower than when living in a large house.
Discourage people to collect unnecessary items – Occupants have to make do with the limited space of a small house. If it is a large family in a small house, they have to share with very limited space. Some people like to buy a lot of things and stock them in their home. The available space will further shrinks due to these items. People are discouraged to bring unnecessary items if they do not have a lot of home space available.
Less materials needed for interior design – Compared to the large house, the interior space of a small house is smaller. There is fewer materials used for interior design when it comes to small homes. The cost of interior designing is also cheaper than the large house.
Affordable mortgage leads to financial stability – When buying a house, a lot of people could not put up the money right away. The common financial option is to get a mortgage and buy the house. The mortgage will increase if the cost of the house is a lot higher. The loan is cheaper if they opt for a smaller property. They can settle the loan conveniently without sacrificing a lot of their income.
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