Finance · Money

5 Reasons Why Bigger Is Not Always Better


Everyone wants a big fancy house that they can show off to their friends, they see it as a badge of honour, a trophy for all their hard work. But, what few people seem to realise are the downsides of owning a HUGE property.

If I had a penny for every time somebody asked me why I don’t upgrade and move to a bigger house, I would be a fairly wealthy man. So today I thought I would go through my reasons why I choose to live in a smaller house, and why I think you should consider it too!

Here are 5 reasons why I believe it is better to own and live in a smaller property:


Lower prices

It’s an obvious one but smaller houses cost less. This is great for getting yourself onto the housing ladder, as you won’t need a big a deposit to get yourself going, and it also means that because the house costs less, you will be able to pay it off quicker too! WIN-WIN! Another benefit to having a smaller mortgage is it comes with smaller payments, reducing the financial strain on you every month, which in turn reduces the overall stress you have in your life. Don’t be fooled into maxing out your limit just because the bank says they will lend it to you. Remember, the bank wants you to spend as much as you can, it is in their best interests to have you indebted to them, however, it is in your best interests to be debt-free. Nobody wants to be living month to month, worrying about their job stability because they have a HUGE mortgage payment to make.

Choose a smaller house with a smaller mortgage, you won’t regret it.


Lower Bills

Speak to anyone who has a big house and one of the first things they will tell you is how much it costs to run. Small house’s don’t have this problem. One of the many benefits of having less space in the house is there is less air in it to heat, meaning it will get hotter much quicker, saving you A LOT of money every month.

As there is less house to maintain, there will be less money spent on maintenance. This is another great benefit of owning a small home, there is less to go wrong, and even if something does happen to go wrong, it will be a far smaller and less expensive problem to resolve.

Another great area to save will be on house insurance. There is less house to insure, and the overall cost of the house will be less too, compared to living in a large property, therefore the insurance will be low as it will be deemed low risk.

Smaller houses also come with lower property taxes. Both stamp duty and council tax will be much cheaper in a smaller, less expensive property compared to owning a much larger house. These are costs you simply cannot avoid, so in my experience its best to keep these as low as you can.


More Financial Opportunities



With lower prices, lower energy bills, lower insurance and lower taxes, there will be plenty of money left over to invest in other things! Small houses will take up far less of your income compared with if you lived in a much bigger house, therefore leaving you money left over every month to invest in other avenue’s. Everybody like’s to have choices in their life, and having spare money gives you the option to have many. Why not buy a second property and become a landlord? Always wanted to invest in the stock market?… Well, now you can! Maybe you just want to treat yourself at the end of the month. The choices are endless. Smaller houses allow you to have much more financial flexibility and stability, which is something everybody wishes they had a little bit more of.


Less Space = Less Stuff

In smaller houses, you don’t have the space for LOADS of stuff. Most people would see this as a negative and a reason to move, but I see this as a massive positive. Having less space actively encourages you not to buy things you don’t need, because you simply don’t have the space to put it in.


“Learn to live with less, so you can appreciate more”


Having less space means you have to change your mindset and learn to live more efficiently and be effective with every bit of space you have. Learning to adopt an efficient mindset has many advantages in your life, and practising the art of this everyday due to living in a smaller house, means you become a master of it very quickly. You won’t ever find a room in my house that is a ‘junk’ room or a place to hide things that I don’t need. If I don’t need something, then I don’t keep it. Simple.


Embrace Minimalism



There’s something not quite right about someone saying they live a ‘minimalist’ life whilst living in a gigantic 2500 square foot house. To me, the two just don’t go together. However, minimalism and living in a small house go hand in hand. When you live in a smaller house, minimalism will become your new best friend. You will use it to maximise every bit of space you have, which will save you money and also have you feeling better within yourself. Nothing calms the mind like being in a clutter-free room, where everything has it’s own place and everything within it is there because it has a purpose. Minimalism is proven to reduce stress and increase happiness. Embrace it.


“The richest man is not he who has the most, but he who needs the least”


So there you have my 5 reasons why I believe it is better to own and live in a smaller house. I think it is clear to see that bigger is not always better when it comes to property. Think long and hard before buying a large house, because it will undoubtedly become a costly decision.

Living small forces you to carefully consider the things you own and make choices about what you need, as well as what you don’t need. Although this might sound limiting, it’s actually quite liberating.


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