| When I decided to write an article in defense of | | | | the available personal space for each family |
| the small house, it was hard to know where to | | | | member, you might be able to afford to let one |
| start, because there are so many reasons why I | | | | parent quit working full-time to stay home with |
| think small is beautiful when it comes to houses. I | | | | the kids. When you add the daycare costs you |
| freely admit that I love living in small houses - in | | | | won't be paying, the smaller mortgage, and the |
| fact, my ideal abode would fit many people's idea | | | | money you save on the daily commute, you |
| of a tiny house. My previous home in Portland | | | | could find that you come out even - and your |
| was only 420 square feet, and for me, a single | | | | kids won't be raised by strangers. |
| woman, it was perfect. My current home, which is | | | | Aside from the initial affordability of a smaller |
| huge by comparison but still under 900 square | | | | home, you also save money each month when |
| feet, seems too big to me. | | | | you receive your utility bill. Smaller houses are |
| Now that you know my personal prejudices | | | | more efficient when it comes to heating and |
| towards smaller homes, I'll give you a few | | | | cooling them than larger ones, even when the |
| reasons for my unusual preferences. | | | | smaller homes have less insulation and older |
| First, smaller homes are more affordable for the | | | | windows. The idea of a "green" McMansion is an |
| average American worker. I just did a quick | | | | oxymoron - you cannot create a small |
| search through the real estate listings for the | | | | environmental footprint if you build a huge house. |
| Portland Oregon metropolitan area for all homes | | | | The average cost to heat and cool a home with |
| for sale under $120,000. I chose that price range | | | | electricity in the same real estate market |
| because the average annual wage in that area is | | | | discussed above is approximately 58 cents a |
| around $37,000 a year. Since home prices have | | | | square foot, per year. My tiny 420 square foot |
| risen much faster than wages, a single buyer in | | | | house cost an average of $20.30 a month to |
| the Portland area could only afford a 30-year | | | | keep it comfortable all year. That affordable 748 |
| mortgage under $100,000 at current interest | | | | square foot home that is currently listed for |
| rates, but the median price for a home in the | | | | $119,000 will cost approximately $36.00 a month |
| area went up to $297,000 in May 2007. Yes, by | | | | to heat and cool. On the other hand, an 1800 |
| my calculations, the average worker can afford 1 | | | | square foot house, which some people consider |
| 3 of the average house in Portland. But that | | | | "small," will have an average monthly heating and |
| doesn't mean that you have to do without a | | | | cooling bill of $87.00. The utility bill can actually be |
| house altogether, as many people assume. You | | | | high enough to make the home unaffordable even |
| aren't doomed to rent forever, if you're willing to | | | | for a family with two working adults, when you |
| look at a smaller home. | | | | add this cost to the monthly mortgage. |
| Admittedly, you may still need to haggle a bit to | | | | But money isn't everything in life, so let's look at a |
| get the price down to a level you can afford, and | | | | few other reasons why I think small is beautiful |
| you may need to do some repairs once you | | | | when it comes to houses. First, small houses are |
| move in, but if owning your own home is | | | | easy to decorate, and even to remodel, if you |
| important enough, you can do it, even in | | | | get the whim to make some changes. They're |
| high-priced areas. The least expensive house in | | | | easy to sell, because there are far more people |
| the Portland real estate market on the day I | | | | who can afford a small house than a large one |
| write this is a 748 square feet two bedroom, 1 | | | | (my tiny house was on the market for less than |
| bath home listed at $119,000. The seller notes | | | | a week before I accepted a full-price offer). They |
| that it needs some work, but it has a new roof, | | | | take up much less space on the lot, which means |
| new vinyl flooring, and new washer and dryer | | | | a lot to a gardener like me. And if the house is |
| that come with the house. This may not fit your | | | | small enough, and the city is encouraging |
| idea of a dream home, but putting money | | | | contractors to build on flag lots, you may be able |
| towards something you own is a lot more | | | | to divide your lot and make enough money from |
| satisfying than spending money on rent, even if | | | | the sale to pay off the mortgage on your house. |
| you have to put up with less personal space and | | | | If you're thinking about buying a house, consider |
| even (gasp!) share a bathroom with your spouse. | | | | looking at the small ones now available in your real |
| Even if you have two wage earners in the family, | | | | estate market. You might find one that fits your |
| buying a smaller house could still make sense, | | | | lifestyle, your budget, and your long-term financial |
| especially if you have a child or two. By reducing | | | | goals. |