During the 1990s and early 2000s, “McMansions” became highly popular, due in part to the prosperous economy and an emphasis on families. The size of American families has steadily decreased since the 1970s, though, and many individuals have foregone children altogether.
Social values have seen greater interest in financial freedom and independence, and in many ways smaller homes are compatible with these principles. Another desirable objective is reducing demands on the environment.
The shift to smaller living presents challenges as well as opportunities. As individuals adapt, the need to plan one’s living space—to maximize its functions and use—is essential to create a comfortable living area.
Here’s a few reasons why small home renovation ideas are quickly gaining popularity:
- Financial Reasons: One of the top reasons that individuals opt for smaller homes is to save money. They can save an average of $6,000 on the initial purchase. In addition, the smaller homes consume less in utilities, which saves another $1,000 a year, on average.
- Social Reasons: The savings produce more disposable income. That in turn enables a homeowner to spend more money on memorable activities, such as vacations and entertainment.
- Environmental Reasons: Some individuals select a small home for environmental purposes. They are concerned about their carbon footprint, and seek to have less of a negative impact on the planet. A smaller home also encourages the resident to be more intentional about his or her purchases, due to restricted storage space.
Smaller homes also tend to allow individuals to live closer to work, since more jobs are available in the city, as well as public transit, shopping, and entertainment.
A smaller home and land footprint also means less housekeeping and exterior upkeep. This can free up your time that would otherwise be spent maintaining your home. That time can go to family and friends. These social benefits would appeal to all kinds of people, families and singles alike.