I recently had a friend drop by my house on his way to the AFC Championship football game here in Pittsburgh. Prior to his visit, my wife, daughter, and I executed our pre-visitor clean sweep. While we were walking through the house helping my daughter locate all of her toys, I realized for the first time how much simpler our smaller home is to maintain in comparison to our last house.
I mentioned my revelation to my wife after we completed our quick clean up and she mentioned how much she used to hate cleaning our prior home. (Our previous home was roughly one third larger than our current one.)
Since we downsized back in April of 2008, we have discovered the following things:
Energy costs: We have saved about 50 percent on home energy costs per month since the move. (Our old home was not well insulated, so the size wasn’t the only culprit to the high energy costs.)
Mortgage: While smaller doesn’t always mean cheaper, in our case we cut our mortgage payment by 30 percent and we also save 75 percent on our homeowner’s insurance. Our prior home was older and larger, while our current home is smaller and recently updated.
Maintenance: As I mentioned above, the cleaning time for our home has been decreased significantly.
While the positives are great, I do have a couple things that I miss about our old home: more room for entertaining and a nice master bathroom. Those two luxuries are worth being sacrificed, however, for all of the other benefits found in our current home. We have less clutter, fewer possessions in general, genuinely like this place more, and we’re saving a lot of money.