When you are looking for a home for your family, it's tempting to assume that bigger is better. You want room for your family to spread out, and you want space for all of the extra things you might buy in the next couple of years. And some families really do benefit from buying larger, more spacious homes. However, this approach is not for everyone. There are actually some benefits to erring on the small side when shopping for a family home.
Benefit #1: You will spend less on energy.
It seems that energy-efficiency is a common goal these days, and for good reason. Many of the resources used to generate energy are limited, and costs are unpredictable. The smaller the home, the less energy you will use to heat it and light it. You can use the money you save on energy for other things your family can benefit from, such as a vacation or educational activities.
Benefit #2: You won't have to do as much cleaning or maintenance.
When you have a family, it can feel like the cleaning never ends. In a smaller house, however, there will be fewer doors, windows, walls, and carpets to clean. This will save you a ton of time over the years you live in the house. You will also have less to maintain — fewer floors to repair, fewer windows to have replaced, and even a smaller roof to have re-shingled. This can help you from starting to feel like your home owns you or occupies all of your time.
Benefit #3: Your family may spend more time together.
At first, the idea of having a lot of space for people to spread out might sound nice, but when that actually starts happening, it can make your family feel distant and disconnected. In a smaller home, you will have to spend more time close to one another, which can be better for your relationships in the long-term.
Benefit #4: You'll pay less.
While home prices are not based solely on size, the size of a home does play a pretty big role in determining its price. In general, you will pay less to purchase a smaller home, which means you will have more money you can put towards other long-term goals like your retirement and kids' college funds.
Bigger is not always better. If the benefits above seem to speak to you, consider shopping for a smaller home.
If this interests you, single family homes might be the best option for you as they offer all of these qualities listed above.