5 Reasons To Buy Small and Save Big

Lima apartments

If you are from the USA, you will most likely find that homes in Peru tend to be smaller than what you would be used to.  In fact, a great majority of people do not live in standalone homes, as is common in the US.  Especially in bigger cities, land and space are tight commodities; thus, the common thing to do is to build up.  Apartments in Lima are the norm and depending on where you purchase, they can provide spectacular views of the ocean, parks, golf courses and skyline.

While there are standalone homes available in Lima and throughout Peru, they often can be quite a bit more expensive to purchase and maintain depending on where you look.  Land in Peru can be incredibly cheap and affordable or it can be priced like Rodeo Drive.  But don’t let the smaller living space that comes with apartment living put you off; choices in size can vary from 60 m2 to over 300 m2.  You can live as big as you desire, and you can have multiple floors in the form of duplex (2 floors) and even triplex (3 floors).  Don’t forget, either, that the trend in the US over the past couple years has seen people returning to a more traditional smaller/cozier house, as well.

There are, however, many benefits to living in a smaller home.

1. Small homes cost less. Think about what it costs to heat and cool a large home. Many people forget to factor this cost in when looking at homes. Home-improvement projects such as painting walls or changing the flooring cost more when they have a large home. Plus, more space means more money to furnish and decorate all of the extra rooms and space.

Small homes, on the other hand, reduce expenses because of their size. A small home has smaller rooms to heat and cool, less wall space to paint and a smaller floor space to carpet or lay down wood.  Monthly utility bills cost less and you’ll spend less on home maintenance. Plus, property taxes will be less, since you have less square meters.

2. Small homes save time. It takes a significant amount of time to clean a big house.  And even if you hired a maid to clean, it just means more time that someone else will be in your home taking away from your private time.

Living in a small home means spending less time, week after week, on housecleaning and maintenance; when you live in a small house, you can use the extra time to read, visit with friends or family, try cooking new Peruvian food, exploring the city or just enjoying your space however you like to use it.

3. Smaller homes make it easier to live simply. When you have a smaller home, you have less space to store belongings. This will force you to make choices about what you keep/buy which will really make you think about what is most important and special..  Instead of balking about the reduction in space, try to envision this as an opportunity to live a simpler life, after all, isn’t that part of the reason why you want to live in Peru?

Live simply and enjoy life

4. Smaller homes mean quality splurges. It costs a small fortune to upgrade countertops or replace cabinets and appliances in a giant kitchen. You have to buy so much more that you may have to make sacrifices in terms of quality in order to make your budget work.  Smaller spaces mean larger budgets for the things you really want, and it means you have the luxury to remodel more often, if you so desire.

5. Small homes may be easier to sell. Energy costs will always rise. That means energy-efficient homes, especially small energy-efficient homes, will be in high demand in the future. Plus, there are only so many people who want and/or can afford the price larger homes command.  So, when you decide to move, your smaller home will be much easier to sell because it has more value in it and a much larger base of potential buyers.

Without a doubt, people are beginning to realize how cozy, comfortable and inexpensive smaller homes can be. Not only do they feel more “homey”, it is easier to be close with your family. Plus, the cost savings of smaller homes will really add up over the long term.  And who doesn’t like extra money in the bank?

3 thoughts on “5 Reasons To Buy Small and Save Big

    • Yes, that is true. It’s just interesting that there is a return in interest in smaller homes, which is what characterized most homes for most of time. I think people are beginning to realize that they don’t need all the space when they are not home as much or just a small family. But rising energy costs and how much one will have to commit to property taxes on larger homes is probably also playing an influencing role in this trend. Especially with the state of the economy now. Every little bit helps.

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