According to a Globe and Mail report: "in 1975, the average size of a house in Canada was 1,050 square feet. Fast forward to 2010 and new homes being built almost doubled to an average of 1,950 square feet. In 1999 the price of a home was 3.2 times income, this had ballooned to 5.9 times income in 2010."
I can't believe that people are spending so much of their income on housing. Also, imagine not having your house paid off when you are retired? To me that is really scary.
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| A view of my small (but efficient) kitchen. |
Benefits of Small Space Living
- Less to clean. I am slightly obsessive about cleaning. I couldn't imagine having to manage a larger space.
- Lower carrying costs. We have a very low mortgage payment. Insurance, property tax, and utilities are reasonable.
- Less room for stuff. We simply don't have the room for a lot of things, so I think before I buy something and am constantly decluttering.
- Not as much worry about rising interest rates. When we have to renew our mortgage, we don't have to worry about how we will afford it. If we had bought a house we could only afford because of a low interest rate, we might be in trouble.
- Smaller footprint. Buying small means less energy consumed. Better for the environment!
