Buying a Smaller House – The Joy of Owning a Smaller Home

woman sitting in her living room

Do you share our opinion that buying a smaller house is like buying freedom—freedom to engage in other activities more enjoyable than playing dust detective? Or does the prospect of buying a smaller house conjure up images of cramped spaces and the invasion of one’s private space—even if no one is actually invading your property?

North Americans have a love affair with space. The more space there is, the grander one feels. Breathing room is abundant, and it provides refuge for family members who need peace and quiet after a heated argument. For those used to space, there’s nothing more annoying than running into each other in the common areas: the staircase, kitchen, living room, study, and garden. When you live in a dwelling that stretches out over 5,000 square feet, it’s like paradise. At least we’re not screaming every five minutes, saying, “Get out of my hair!” or “Get off my back!”

Knowing there’s a corner of the house to retreat to and lock yourself in after a screaming match reassures us. When we’re on a phone call, living in a large house means we don’t have to lower our voices for fear of being overheard. We don’t have to run outside to avoid family quibbles—we can simply sneak quietly to the basement and hope it takes hours for someone to find us. It also helps if we have a large bedroom, where we can scatter our dirty clothes in inconspicuous corners, preventing them from forming one huge pile and triggering another argument with mom.

But buying a smaller house can prove to be a winning proposition in many respects. There are real advantages to downsizing, and we can simplify our lives because there’s less chance of hoarding—thus avoiding becoming clutter beasts.

Advantages of Buying a Smaller House

Off the top of our heads, here are some advantages of buying a smaller house:

  • **Cash proceeds from selling a bigger house**: Selling a larger home to buy a smaller one can free up funds for other needs. For example, if you’ve paid off the mortgage on a six-bedroom house with 5,000 square feet, a pool, a triple-car garage, a basement that could be converted into a two-bedroom apartment, sprawling gardens, and a winding driveway, and you buy a smaller house (two bedrooms, one-car garage, 1,000 square feet, no basement), the difference could be substantial. If the first house sold for $485,000 and you bought the smaller one for $185,000, you’d have $300,000 to add to your retirement portfolio, helping cover future healthcare costs, assist an adult child with their university education, or fund a much-deserved vacation around the world—and still have money left over.
  • **Reduced time spent on maintenance**: When you’re a young, growing family, it’s fine to spend your weekends cutting the grass and tending to a rose garden. It’s a perfect bonding time, with everyone pitching in. But after ten years of repeating these chores every weekend, the excitement wears off. Lawn and garden maintenance can become drudgery, and the grunt work starts to generate frustration. We’re not even talking about other indoor maintenance. A pool may enhance the value of the house, but it comes with hours of cleaning, vacuuming, and dealing with bacteria and chlorination. A well-appointed home with airy spaces can be an interior designer’s dream project, but once all the decorating is done, someone still has to ensure the dust never settles and the floors remain spotless.
  • **Lower utility payments**: Let’s take air conditioning as an example. When you approach an air conditioning salesperson, their first question will likely be, “How big is the living space you want to cool?” The bigger the house, the more BTUs needed to keep it comfortable. A large estate requires central air conditioning in the summer and heating in the winter, leading to higher utility bills. By downsizing, you can reduce those costs significantly, saving money on unnecessary energy consumption.
  • **Less money goes to the taxman**: Our father used to say, “Don’t complain about taxes. They’re good for the country.” Sure, but our father didn’t live in Canada. If he had, he might have packed up and headed back home! In the U.S., property taxes may be manageable, but in Canada, especially in expensive locations, property taxes can make you think twice before buying a large house. The U.S. allows taxpayers to deduct mortgage payments, providing some relief, but in Canada, this is only possible under certain income conditions.
  • **Less junk in a smaller house**: And we’re not talking about junk food, which always goes into the fridge or cupboards. We’re talking about the bric-a-brac that piles up into a mountain of junk you can’t even compost. In a smaller house, space is at a premium, so you’re more careful about hoarding things or accumulating dust collectors. In a larger house, however, the temptation to fill every empty space nags at you—so what do you do? You buy more stuff! One day, our aunt emailed us, clearly frustrated by the ongoing task of clearing out her house. She started in the basement, which alone took two weeks. She still had seven rooms to go. “Let this be a lesson to all,” she wrote. “One day your possessions—even the insignificant ones—make you their slave.”
  • **Can the alarm be dispensed with?**: We’re not sure if people would be willing to go from a high-security house to a no-alarm house, but with a smaller house, the need for an alarm system isn’t as pressing. After all, there’s less to protect. People with larger homes often install cameras and other surveillance systems due to the size of their land and buildings. They need to monitor their property for potential intruders or trespassers.

There’s a lot to be said for buying a smaller house. But do take some time to think about the implications before you start house-hunting. If you’re someone who hosts large gatherings for special occasions, entertains often, or simply needs your own private space, a smaller house may cramp your style.

Want to hear what British comedian and actor Alexei Sayle said about his neighborhood? “I come from a poor neighborhood. If anyone ever paid their rent, the police immediately came around to see where they got the money from.”

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