When making a home purchase, there's real value in recognizing when enough is enough.
Bigger isn't always better, and there can be significant benefits to right sizing your home. Since the 1950s, a typical four-person family home has increased from 1,000 square feet to 2,500 square feet on average.
"Housing has always been this competitive sport, and there has always been a negative connotation to being small,'' says Genevieve Ferraro, who lives outside Chicago and runs a website called the Jewel Box Home, dedicated exclusively to small-home living.
"Status has been acquired by trading up and moving up.''
For the most part, this thinking is still mainstream, but some now consider responsible living practices as the social measuring stick of home ownership status.
I made the decision several years ago to right-size my family home. Although we found the transition difficult in the beginning, it has worked out well in the long run.
I'm not suggesting families sell everything and move into a one-room hut, but I would never recommend purchasing the largest home you can possibly afford just for the square feet.
Take time to seriously consider how much space you need by assessing your housing needs for the next five years and making your decision based on that.
It doesn't make sense to purchase too much or too little house based on a long-term goal because the average Canadian moves every five years.
A right-sized home could be less expensive to purchase, and a smaller sticker price means you can spend more on features or finishes that will make your home feel comfortable.
Ensuring your home is energy efficient and right-sized for you and your family will result in a smaller carbon footprint. Value-engineered large homes and many smaller homes require fewer raw materials to construct. That means fewer trees needed, and less manufacturing, packaging and trucking during construction.
Smaller homes and energy-efficient larger homes require less fuel and electricity to operate, allowing you to feel good about your environmental impact while saving money every month.
Ensuring your new home design makes the best use of all the available space is another way of getting the most bang for your buck. Open concept designs and flex spaces can make the main living areas of any size home very versatile, and smart storage solutions make great sense all around.
Smart traffic flow, finished lower and upper levels and multi-function common areas are some of the ways families can maximize their living comfort in a right-sized home.
If you have the need for occasional use spaces such as a craft room and a guest bedroom, consider creative room designs and storage solutions to make a single space work for both purposes.
Carefully chosen maintenance-free materials on the exterior of any size home will require less effort and cost to maintain in the long run, and fewer square feet and low-maintenance finishes on the inside can also cut down on upkeep, cleaning and dusting.
If you're wondering what the right size home is for you, determine what rooms you'll need, and how to best furnish them to be comfortable, versatile and cozy.
The London Home Builders' Association has several builder and renovator members who can help you plan the perfect new home or renovation that is right-sized for you and your pocket book.
Visit our website at www.lhba.on.ca for a complete listing of builder and renovator members.
Shellie Chowns is president of the London Home Builders' Association.
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