We love our small home. When it came time to move 2 years ago, we had a few choices:
- Move to the suburbs to a larger house
- Stay in town and pay a ton for a larger house
- Stay in town and get a condo that fulfilled all our needs and didn’t bust our budget
At this point in our lives, as a working couple in our mid-30s with 2 elementary-aged kids, we chose option 3. By living in a smaller condo, in town, close to work and daily activities, we not only save money but also a lot of time and energy. Here are some reasons why we prefer our small home:
Cost
One of the biggest perks of a smaller home is the lower monthly cost. Due to the high housing prices in our area, we chose to rent.
Renting a smaller place allows us to keep our housing budget below the suggested 30% monthly income. We can invest more towards our financial independence and hopefully, early retirement.
We could easily stretch ourselves to get a bigger place or suck it up and purchase a place of our own. By renting in this high cost of living area, we can save a larger portion of our income in more accessible investments. Investments like brokerage accounts have more flexibility than just home equity.
And renting in a high cost of living area gives us the option to up and move when we feel like it. We can even go on an extended adventure as soon as we reach financial independence, which has been my long-time dream.
Location
When we chose our current home, the location was a huge factor. Mr. Bean had been driving a minimum of 30 minutes, each way, every day for the last 13 years. He hated sitting in traffic and wanted to be able to bike to work so badly, but the distance was physically hard, and dangerous, as there were no safe bike routes.
So when it came time to move, we found a place that is a 10-minute drive, maximum, with all red lights. And he can bike it in about the same time. It cut down on his daily commute time a ton and he can come home calmer, not having to sit in traffic each afternoon.
And, being able to bike it on occasion, he gets in the extra exercise he was looking for.
In addition to being close to Mr. Bean’s 9-5 job, our new home is centrally located near every on-ramp to the freeway, in 3 directions. This makes it easier for my weekend real estate job and the kids’ activities.
If we had chosen a larger house in the suburbs, we would have extended both of our commutes. We chose a smaller house, close to jobs and freeway access, to gain back the hours of our lives to spend with family. We also save thousands of dollars in gas and car maintenance every year.
Cleaning
I’ve mentioned before, I have RA. When my body is sore and tired, the last thing I want to do is spend hours cleaning.
With 2 kids, 2 cats, and a busy schedule, I love the fact that we can clean the entire house, top to bottom, in less than an hour.
Keeping a minimalist style (books and exercise equipment excluded) in a 780 sq ft condo, makes cleaning a whiz. Again, allowing us more time to relax and spend with family or on money-making or learning ventures.
Small Home Utilities
When we started giving our kids “dividends” for keeping the power bill down, I posted on Facebook that we got our bill down to $58 for the month. I got so many responses from people who could not understand how such a low bill was even possible.
Having a small condo, in a warm climate, is what allows us to save money on utility bills. We can then put those savings into investment accounts, building for our future.
Fewer rooms to heat or cool and light up require less power.
And renting a condo means that other utilities, like water, maintenance, and garbage, are part of the package price, allowing our monthly expenses to be more predictable.
Small Home Community
One of our favorite parts of our condo is the community. There are families from all over the world living here.
Being in the center of town, in a family-centric neighborhood, near military bases, means we have the opportunity to make all sorts of friends.
Some communities are obviously easier to find friends than others. When looking for our home, we wanted a place that had parks nearby (We love Parks and Rec classes). We also wanted lots of families as well as people of different ages.
The variety of families nearby and opportunities to meet new friends is a huge plus for us. In a larger home, we might never even meet our neighbors more than 2 houses away. So we are very thankful for our tight-knit community full of kids, aunties, and uncles. (In Hawaii, any close adult, older than you, becomes aunty or uncle)
Wrap-Up
So while we could have stretched ourselves to afford a bigger place or moved farther out into the suburbs for more space, we are happy with our decision. At this point in our lives, it makes more sense to live in a condo in town.
We have access to everything we need, a community of friends, close access to work and activities, and more freedom with our time and money to spend where we think it counts most.
Maybe we will move a few years down the line but right now, the pool is pretty sweet. 🙂
We’ve been thinking about moving recently. You’re making a smaller house in town sound pretty good.