Size does matter… and smaller might just be better after all. Let’s face it: you can’t afford the castle you have always wanted as a child. And chances are, you don’t want them anymore, anyway. As we grow up, we tend to like simpler things, a smaller group of friends, partying less, sleeping more, we go out less, and stay home more. At home, we appreciate simplicity, style, and order. We want a home that feels just right --- not out of a fairy tale book or a Hollywood movie, never too much, but just about right. That is not called living small but living right.
In 2010, the National Association of Home Builders conducted a forward-looking survey: what will be homes like in 2015? The result: smaller and greener. The NAHB study concluded that the new single-family home will be smaller in size with the living room either going out of style or merged with other spaces in the home. This is much like condo living which mostly promotes open floor plans. Living in smaller homes has also received support from Millennials around the world who have begun to enter the home buying market. Panelists in last month’s International Builders Show said that younger buyers demand more affordable and functional homes, thus smaller. This is a generation that doesn’t want anything to do with outdoor kitchens and two-storey foyers anymore.
This is why real estate industries around the world have been developing more condominiums and townhouses. Doing so is not a bad thing. This is not an indication of smaller dreams but dreams that we want to come true and dreams that actually work for us. Downsizing to a condo, from your childhood dream of a one-hectare home with gardens and fountains, is not much less to be desired. There are a ton of benefits of moving to a condo and we will run down the list as we go.
A smaller home like a condo unit is obviously more affordable. Payment terms and flexible bank loans have made owning a condo easier on the budget. If you are a young professional, you can go for an affordable condo for rent near your office or slowly own your home through no-downpayment and pre-selling schemes. The size and cost of a condo is also ideal for couples and small families.
There is also less financial risk when buying a condo instead of a bigger detached home in a traditional subdivision. It will let you manage your finances better and there is less risk of getting buried deep down in debt.
Lower Utility Bills
Condo living is simple living. The space doesn’t give you much room for things you don’t actually need so you don’t go out and buy them (only to throw them out later). Living simply also means comfort at a low cost. For example: a bigger house with bigger rooms will need an aircon with a higher HP, which of course means higher electricity bills. It also calls for more TV sets, more lighting costs, etc. A condo is less expensive to purchase and less expensive to keep --- not only with monthly electricity and water costs but also with taxes and insurance.
Cleaning Made Easy
Who needs house help when you only got 40sqm to clean? Anyone who has lived in bigger houses like traditional bungalows in provinces knows that maintaining a fairly big home is not easy. You need more time, energy, effort, and patience. In a smaller home, you can live on a little less. Plus, you also get to save on cleaning products.
Good Reason to De-clutter
When your space is relatively small, you have no choice but to free your home of clutter. You are forced to pare down your belongings and suddenly realize you don’t need all those extra baggage to live.
No Reason to Buy Non-essentials
When you have a bigger home, you will always feel that you have more areas to fill and you will feel stressed knowing that you have to get a new corner table, another wall décor, and so on and so forth. But when you live in a condo, you will thank yourself for having less. It will also free you from wanting more. Knowing that you have limited space for non-essentials, you will think harder before making that next purchase. As a result, you save money on furniture, appliances, and decorations that you don’t actually need. Aside from this, you are also less likely to turn your lovely home into a stock room.
Bonding With Family
Among the perfect benefits of moving to a condo especially for families are the many opportunities to bond and have fun. Picnics in the park, swimming weekends, strolling down the gardens, and walking the dog along safe community patios are priceless advantages of living in a condo. At home, you are also more likely to talk to each other more and watch movies together because the small space is inevitably bringing you closer.
More Time for Everything
You will be surprised at the amount of time you will save for living in a condo. The time you save on maintenance, chores, and decorating can be converted to leisure and relaxation. The same goes with the time you save on traffic. Most condos are in the heart of the metropolis and business districts so driving and commuting to-and-from work is much faster.
Getting More Organized
And can we just add, more creative. Downsizing to a condo will make you a master of organization and creativity. A smaller space demands a clutter-free environment and you will find yourself loving space-saving furniture and built-in, hidden, and vertical storage. Before living in a condo, you probably didn’t realize that your shoes can be organized under your bed!
Easier to Re-sell
To invest in a condo is a great decision because not only is it easier to purchase, it is also easier to resell. There will always be a wider market for more affordable homes. Its value also doubles in no time.
Living within your means and living simply are at the heart of condo living. Most people always raise space issue a problem but an opportunity to change the way we live and ultimately make our lives bees during condo-talk, as if they need more than 50sqm to live decently. A smaller space is better.