Tag Archives: downpayment

The Benefits of Owning a Smaller Home

Given the restrictions on mortgage financing, which also limits the access to home ownership, many families feel obligated to postpone their plans for buying their property. How about buying a smaller house instead? Times have changed, you know.

In the past, living in a smaller home was too often perceived as some sort of failure. Social success was determined by the size of your home. Big house, lavish lifestyle, large budget. The size of the home sometimes exceeded the family’s needs.

iStock
iStock

The whole world is joining together now to fight the rapid change in climate. Consequently, owning a home that suits your exact needs is perceived as an Eco-friendly gesture.

However, for many families, the restrictions to home ownership prevents them from even buying a property that fits their needs. What to do? Postpone the purchase? Not necessarily. Continue reading