Pros and Cons of a Small Home
Best option for the first time buyers is the small homes. This is because small homes are affordable and mostly in the range of the people who want to move from rented homes to own homes. If you are planning to buy or moving in a small home then you should know the pros and cons of small homes. Lets discuss the pros and cons of a small home.
ADVANTAGES OF TINY HOMES:
The first advantage of small homes is that they are highly affordable. Most people who want to buy their first homes have limited budgets. They just buy homes to save the monthly rents. Small homes are best for the first time home buyers as price is low and monthly mortgage payment is also affordable.
The second advantage of small homes is that they have low maintenance costs. Firstly it’s easy to clean and maintain the small homes. Secondly small homes have low utility bills. Thirdly it takes less time to warm or cool a small home as compare to a large home.
Low refurbishment cost
Buying a home has many hidden costs that are paid in form of repairs. But the small home has the advantage that it can be refurbished with a small amount. The refurbishment of small homes is not only affordable but also takes less time.
Good resale value
Most people sell their homes for moving to another city, upsizing or downsizing. The target of the sellers is to sell homes at good profits. The small homes always attract large pool of buyers as the price is in the range of most buyers. So the fourth advantage of small homes is the good resale value.
DISADVANTAGES OF TINY HOMES:
Less space for family and furniture
The first disadvantage of small homes is that there is very limited space for the family. People have to use the same room for different purposes. In term of furniture you have to be very selective as you can’t put many items in a small size room. For example you have to just buy the LED wall screen to save the space.
Parking and storage problem
The second disadvantage of small homes is that there is always the issue of car parking & storage space. Separate garage is not available in small homes so people have to park their cars on the roads. At the same time small homes have no separate stores as compared to the large homes.
Everyone wants to live in a home that has a front on back garden with a lawn for family sitting. But in small homes, gardens are not available due to the limited space. So the third disadvantage is that small homes have no gardens for family get together.
No space for kids
Kids want the space to play with the toys. But this facility is not available for the kids in small homes as space is very limited. This is why most people take their kids to the parks or other entertainment areas as there is no space at home.