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The Smaller The Better

by admin on December 8, 2014

When it comes to home buying, buyers have to consider different factors in choosing a home. It is common for people to face expenses other than their mortgage payments such as heating, electricity, insurance, and property taxes.  Experts recommend home buyers go for smaller homes – the smaller the home, the cheaper it is.

1. Air Conditioning and Heating:

People often make the assumption that if your house is twice as big, the cost will be twice as much. Experts prove this to be incorrect as it is actually more than double the cost as there are more doors and windows.  Also, there will be more wall surface areas exposed to outside which makes it almost three times harder to heat up the house in the winter.   Install good quality windows and doors to avoid leaks and drafts.

2. Large Amount of Empty Space:

When there are large empty spaces in homes,  people usually find the need to fill up the spaces, therefore driving them to buy more furniture.

3. Property Tax:

When it comes to property tax, the bigger the house and land, the more your property tax is going to be.   To determine property taxes, the municipal tax rate (which varies in different areas) is multiplied by the homes appraised value.

4. Renovation:

The bigger the house, the more area you need to cover when renovating your home,  such as hardwood flooring.  The cost is determined by square foot therefore it will cost more if you have a bigger house.

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