Have more time and money for hobbies, travel, community service, sporting and leisure activities. With the time and money you save in accommodation costs or the revenue your small home generates, retirement could be sooner than you think!
SINGLE DETACHED DWELLINGS
small homes provide a great alternative for people who want to live in a smaller space but desire an alternative to townhouse/condo/apartment living.
In an area with an under 1% rental vacancy rate, small homes are a great opportunity for current homeowners to provide more rental stock and achieve a good return on investment. They are also good home office, lodging/tourism, or guest suite options.
SUPPORT A FAMILY MEMBER
small homes, when placed in your backyard as a second dwelling are a great way to keep your grandma, student or adult child with disability close without impeding on their independence. It is an affordable living option too.
ALTERNATIVE TO DOWNSIZING OR SELLING
Building a carriage home as a secondary suite on one’s existing property gives owners the opportunity to move into their brand new carriage home and rent out main house, providing a great retirement option. Your existing and newly created income can then be freed up for travel and leisure activities. This eliminates the need to move to strata condo or townhome.
CREATE A LIFESTYLE CHANGE
Making a small home your primary residence works for those who desire to simplify and focus on experiences vs. home maintenance/mortgage and upkeep. Living in a small home community in an urban center creates opportunities for more connected, walkable neighborhoods. Living nearby amenities and local businesses supports all aspects of community connectedness.
small homes work for people of a variety of demographics, including, but not limited to, seniors, first time home buyers, singles, couples, single parents, persons of varying income etc. Accordingly, small home neighborhoods will be inherently healthier than other purpose built communities due to being accessible and appealing to people of all ages and demographics.
By default, small homes are better for our environment. Since you home is 320-625 square feet as opposed to 2000-4000, your footprint is smaller and operating costs are less.