The move to smaller spaces
-By Gary McCoy, Broker Tartan Real Estate Services
For years, no generations, the American dream has been to have big cars, big houses, big lives, and big... well everything. In the last decades and as the economic situation has changed, we have been moving back to the smaller sides of life. Cars are getting smaller not bigger, people are learning to live with less, and taking into consideration how much they really need.
I for one am excited. That sounds counter-intuitive being I am a real estate broker and bigger usually means more money, but honestly becoming not only more aware of all that you don't need and all the new things you can do with much less makes me excited.
In my 10 years or so of selling real estate I have run across so many people that want to go look at the 4500 sq ft house or say they really need that media room, or huge 3 car garage. In 99% of those cases I would say their quality of life went down and not up when they moved in. Yards got smaller, things got more expensive, people felt the need to fill the voids in their homes with stuff they really didn't need or really use.
Then there is the sad and uncomfortable aspect that in many cases you have more house than really you can afford, causing you to be underwater (sorry for the picture pun), and in some really horrible cases even loose the home. Smaller is better. Your grandparents knew this. Your great grandparents really knew this and worked hard to ensure that they were as frugal as they could be so when hard times came they were ready.
I say get rid of the huge mortgage, get back outdoors, and feel how freeing it can be to not be house poor. That is my goal. I hope we can work toward this goal together.
Going forward I am going to be discussing how to make this move and what you can do to get the most out of the spaces you have. If you have any ideas, or want to share links to your favorite design and small space sites, I welcome it.
Gary McCoy is the broker for Tartan Real Estate Services in DFW, broker license number 0588837. All opinions are just that, opinions. If you have specific questions or concerns please contact us at 877-498-7323.
Back in 2000 we downsized. It was the smartest move we ever made - less yard upkeep for my husband, less housecleaning for me, and a much lower mortgage and related cost for us both. After many years of marriage, we knew what we really liked and what we didn't about a home. Downsizing allowed us to have extra money for fun, and we have slowly made additions to our new home - like a screened in porch - that fit our lifestyle perfectly. I would heartily encourage anyone to consider the joys of downsizing.
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