Notices

To little house

Old 04-15-2008, 06:18 AM
  #21  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Sep 2005
Location: RustNeverSleeps,MA
Posts: 4,974
Default RE: To little house

I should have bought a bigger freezer.
SurferGirl is offline  
Old 04-15-2008, 06:42 AM
  #22  
Senior MemberCaptains Club Member
 
Join Date: Feb 2005
Location: Trabuco Canyon, CA
Posts: 613
Default Re: To little house

Our home is tiny by current standards...just under 1300 sf. Built in 1976, completely renovated in 2006, 2 br, 2.5 ba, about 750 sf of outdoor decking, 2 car garage, basement, 1/4 acre. We live in the country. Not at all the atmosphere most people think of when they think of Orange County, CA...we bought in March 2007. We expected it to be our "empty nest" home, but one of the kids boomeranged in July.

We love it here. It's big enough for us, we use our deck space a lot. My "someday" plan is to claim the 2nd bedroom as part of a larger master suite, combining it with our existing master, and to add another bedroom and an office/spare room over the garage. But we're in no hurry.
SSheila is offline  
Old 04-16-2008, 05:09 AM
  #23  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Nov 2003
Location: New Jersey Shore
Posts: 4,069
Default Re: To little house

George Carlin on Stuff.

http://youtube.com/watch?v=MvgN5gCuLac
Themis Sal is offline  
Old 04-16-2008, 07:17 AM
  #24  
Senior MemberCaptains Club Member
 
Join Date: Jun 2002
Location: Long Island,NY
Posts: 11,974
Default Re: To little house

Unless you have an insane rich uncle who gives his money away to you, think about the cost to heat, air condition and keep the lights turned on in the bigger house. given the current trends in fuel it could be a big number.
SeaJay is offline  
Old 04-16-2008, 07:30 AM
  #25  
Senior MemberCaptains Club Member
 
Join Date: Jun 2001
Location: CT
Posts: 18,361
Default Re: To little house

First "I can not say that I really love my house and my wife".. don't let her see that.

But you are lucky you have this choice. Around here all new houses are 3,000 sq.ft. minimum. Couples with no kids were buiyng them. I don't know how well they are selling right now. But I am sure anyone with a 1500 sq.ft. ranch type house can sell theirs tomorrow.
LI Sound Grunt is offline  
Old 04-16-2008, 11:23 AM
  #26  
Senior MemberCaptains Club Member
Thread Starter
 
bsmit24's Avatar
 
Join Date: Aug 2004
Location: Republic of West Florida
Posts: 17,695
Default Re: To little house

LI Sound Grunt - 4/16/2008 6:30 AM

First "I can not say that I really love my house and my wife".. don't let her see that.

But you are lucky you have this choice. Around here all new houses are 3,000 sq.ft. minimum. Couples with no kids were buiyng them. I don't know how well they are selling right now. But I am sure anyone with a 1500 sq.ft. ranch type house can sell theirs tomorrow.


LOL! The "my wife and I" is part of another thought and should not read as it did. And no, I will not let my wife read this!

I have done a little research since I started this thread and the city that I live in does not have a minimum home size although some subdivisions do mandate minimum home size. And I was very surprised that some municipalities have minimum home sizes.
bsmit24 is offline  
Old 04-16-2008, 11:38 AM
  #27  
Senior MemberCaptains Club Member
 
Join Date: Mar 2003
Location: Waco, TX 76706
Posts: 2,568
Default Re: To little house

I imagine we are nearing the close of the McMansion era. With the "baby boomers" starting to hit social security, there is going to be a steadily increasing segment of the population that will not be able to afford power and heat for the overblown houses we got used to over the past 15-20 years. It is doubtful that they will be interested in large yards with lots of upkeep either. Other than apartments and town houses, which will likely see an increase, your best bet for homes they will be interested in are those in the old 3 BR, 2B range with yards closer to a 10th of an acre than a 1/4 acre.

Figure the mortgage market might actually be forced to make loans only to the limit people can afford, and you won't see too many young people buying 5000 sqft houses anymore.

Personally, I'd rather have a nicer boat (or any boat), truck, and maybe a larger lot than another couple thousand square feet to heat, cool, clean, and maintain. Happy with my little 1350 sqft, 3BR, 2BA, 2CG home (even if I did opt to get an acre lot for the boat to live on).

Heck, I was happy with my last 1100 sq ft 3BR 1 BA no garage home on 1/2 acre, but I will admit another bathroom has made things easier with three adults living at the house.
shemstreet is offline  
Old 04-28-2008, 04:34 PM
  #28  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Sep 2005
Location: RustNeverSleeps,MA
Posts: 4,974
Default RE: To little house

I should have bought a bigger blender.
SurferGirl is offline  
Old 04-29-2008, 02:07 AM
  #29  
Member
 
Join Date: Oct 2007
Location:
Posts: 36
Default Re: To little house

"I should have bought a bigger blender."
then do it.
WhatNeed1611 is offline  
Old 04-29-2008, 05:21 AM
  #30  
Senior Member
 
Join Date: Jan 2008
Location: Pearland, TX
Posts: 993
Default Re: To little house

My wife and I run a home business and have three employees that work from our home during the week. So yes, we're not living in enough house.
Jamisjockey is offline  
Old 04-29-2008, 05:37 AM
  #31  
Senior Member
 
Join Date: Feb 2007
Posts: 18,196
Default Re: To little house

I have to buck the trend a little bit.

I grew up in a 3 BR 1 bath duplex. Just doing the mental math, it couldn't have been larger than 800 sq ft. There were six of us in the family. It probably turned me into a closet claustrophobic.

For me, bigger is better. There is something about coming home to a house with excess space that gives me a real sense of freedom and relaxation. It is a major stress reliever – I just don’t appreciate the concept of “cozy” when it comes to homes.

We have owned three houses – 1,600 sq feet, 3,000 sq feet, and now 5,000. I always bought bigger than we needed, and had no reservations about putting more of our financial budget and resources into the house than less. Here in Fairfield County, CT, it also turned out to be an excellent source of equity buildup. When you consider the tax deduction, the leverage you get from the loan, and the appreciation we have seen, it almost cost nothing to own the house. The net equity increase in our house over the last decade is almost 50% higher than the after tax payments and opportunity cost on the downpayment. In that situation, the more I bought, the better my finances were.

Even if that weren’t the case, I still would buy bigger rather than smaller, for the simple reason that it is more comfortable for us. The energy costs just aren’t a big enough part of the equation to change the decision. Even at almost $4 a gallon, we only spend around $4k a year on heating oil, and if the house were half the size, it would be more than half the cost. Just not enough savings there. Same case with electricity.

Tactically, the most important thing is to minimize the number of moves. Every time you trade up, you take a 10-12% hit with transactions costs, and risk of getting squeezed on the buy side or sell side with price.

Strategically, the most important thing is to make your house purchase part of a balanced financial plan, where you make sure that you have plenty of resources to weather a bad economic situation, keep your discretionary spending under control, and maintain a steady savings rate.

Pick the areas of your budget where you are going to “go long”. For me, it is the house and the boat. Given the amount of time we spend on each and the relative enjoyment factor, it just makes more sense to allocate resources here than vacations, cars, clothes, restaurants, or overpriced private schools.


joenew61 is offline  
Old 04-29-2008, 07:26 AM
  #32  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Nov 2005
Location: Central Jersey
Posts: 7,961
Default RE: To little house

Tireless - 4/14/2008 12:34 PM

I live in a house that is considerably smaller than the type I can afford....I always have and I always will. Everything is relative.
Well, Tiresome, we FINALLY agree on something.
t3rockhall is offline  
Old 04-29-2008, 07:48 AM
  #33  
KJS
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2003
Location: Where I go, there I am
Posts: 16,767
Default RE: To little house

t3rockhall - 4/29/2008 10:26 AM

Tireless - 4/14/2008 12:34 PM

I live in a house that is considerably smaller than the type I can afford....I always have and I always will. Everything is relative.
Well, Tiresome, we FINALLY agree on something.
Yep me too. The inlaws who live in one of those house farms do NOT understand. I finally told my wife one day that I no longer care much what her parents think. She told me that it was brutally obvious.
KJS is offline  
Old 06-02-2008, 05:52 PM
  #34  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Sep 2005
Location: RustNeverSleeps,MA
Posts: 4,974
Default Re: To little house

WhatNeed1611 - 4/29/2008 2:07 AM

"I should have bought a bigger blender."
then do it.
I will.
SurferGirl is offline  
Old 06-03-2008, 10:16 AM
  #35  
Senior MemberCaptains Club Member
 
Join Date: Sep 2006
Location:
Posts: 740
Default Re: To little house

Having developed/renovated properties from 700sf to 4000+sf I have to say that I appreciate the quality of the space more than the quality. When I tour one of these McMansions I am always shocked at how little thought goes into the space. It seem like they are all about making everything huge. Does a kid really need a 18x18 bedroom with a walkin closet? What the heck do you do with a 25x30 master bedroom (we never invite friends in there...).

My wife really likes this womans designs (http://www.susanka.com/plans/default.asp). I think she has some great ideas.

Personally, I would prefer to spend money on good materials, design and a great location over size any day.
iguana is offline  
Old 06-03-2008, 10:59 AM
  #36  
Senior MemberCaptains Club Member
Thread Starter
 
bsmit24's Avatar
 
Join Date: Aug 2004
Location: Republic of West Florida
Posts: 17,695
Default Re: To little house

iguana, I have to agree with you on all points. It seems that it is just easier to build it bigger than to put any effort into making it a better design. Of course this tends to be the same for boats and probably justified in the eyes of the designer because the majority of people want more for their money.
bsmit24 is offline  
Old 06-03-2008, 11:04 AM
  #37  
Senior MemberCaptains Club Member
 
Join Date: Jan 2006
Location: Mobile, Alabama
Posts: 2,794
Default RE: To little house

I recommend going with what is prudent for your area. Here it was custom built 4,500 sf and larger homes (when we made our move). We put all the bells and whistles in (warmers, compactors, g.e. profile appliances, sub-zero, three heat pumps, wine coolers, video/audio sytems, 10' ceilings, hardwood floors, heavy moldings, etc.) Those things ad salabilty should you ever wish to sell (dog and pony)

Utilities? 5,600 sf and power bill averages $200 month
Highest seer (CHA) available at the time is what we used - also came with full 10 year warranty (Trane).

Taxes? here, homestead properties are roughly 2.5 x's lower than other property tax rates

Interest? Got deductions? Interest is one of the best and with mortgage rates, bigger loans = decent deductions

Appreciation? 4% is good on 100k house - great on 600k house

Mortgage paydown? at 15yr term (recommended) it is like a forced savings plan which grows quickly

Bigger is better - for us anyway.
triguy7 is offline  
Old 10-06-2008, 11:58 AM
  #38  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Sep 2005
Location: RustNeverSleeps,MA
Posts: 4,974
Default Re: To little house

WhatNeed1611 - 4/29/2008 2:07 AM

"I should have bought a bigger blender."
then do it.
Done.
SurferGirl is offline  
Old 10-06-2008, 12:02 PM
  #39  
Senior Member
 
Join Date: Mar 2007
Location: Ft. Myers
Posts: 766
Default Re: To little house

My wife and I have a 2037sqft. 3/2.5 house. It's plenty big for us and for when we have kids.

I grew up with in a 4 person house hold in a house smaller that what I have now. We got along just fine.

I don't see my wife and I upgrading probably ever. If we do it will be to a different city entirely.
CThomps is offline  
Old 10-06-2008, 12:59 PM
  #40  
Senior Member
 
Join Date: May 2008
Location: Virginia Beach Va
Posts: 341
Default Re: To little house

Well im single. Working daily on hours that i choose, and i live and outright own (have the deed and everything) a 5000sq foot house. with 5 bedrooms 4 and 1/2 bathrooms, and live by my self with 2 dogs. I must say i really love the space, the pool out back, the large eat in kitchen, and when I throw wild partys 4 close friends can go and party with their female partner in their own bedroom 5 if im not busy. Plus i dont get drunk guys peeing in my plants, or drunk girls peeing their pants, cause theres enough bathrooms to go around, and when i want piece and just wanna relax. I flip on my home sound system (bose in ceiling speakers, 2 per bedroom, 4 per main room) and just chilax. I love all the space. I can have an office, friends from out of town can stay with me and get their own bedroom and bath. Its a corner lot on 1 acre and i love all the yard. have a crew thats comes and mows the yard, and cleans the pool.
LOVE IT, am I house poor. Not really. I can spurge where i want, Impuse buy, and im still not in the poor house. Tell ya what, living dirt poor for the first 4 years of my working live was worth it to be living like this now.
rollin thunder is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Thread Tools
Search this Thread