A bigger home is not the only solution to your space problem

Originally posted on July 27, 2010
by Andrea Reynolds

Do we really need 5 bedroom, 3 bathroom, 3 car garage homes to house our families and our stuff? Put another way, do we really need bigger mortgages if we’re already in debt? Let me tell you about the Paulsons. They live in their first and only house.

When they first married they rented a second floor apartment while saving for a down payment. When they did buy, it was a small bungalow on a quiet street. To have enough room for their three kids they spaced them so only two kids were living at home at the same time. They didn’t have pets. When their things took up too much room in the house, they reorganized their basement storage, held yard sales, gave things to the church for its rummage sales, and donated outgrown clothes to charity.

Soon after their 25th wedding anniversary their mortgage was paid off. They lived within their means despite several job layoffs, earned two college degrees in the family, and have lived debt-free for the past 15 years. Their children never felt cramped.

Only in their early 60’s the Paulsons’ retirement years will be cakewalk because they weren’t bitten by the bigger-is-better bug. Did you know that many self-made millionaires live comfortably in modest homes? Did you also know that the trend now is to live in tiny homes? Tiny, as in less than 144 square feet. Do a search on “tiny homes” and you’ll find custom home manufacturers building homes 10 feet by 10 feet.

If you think you can’t live without your stuff, try this. Rent a storage unit, fill it with anything you don’t need for cooking, sleeping, eating, or working, and don’t use what’s inside for a month. You may be surprised at what you don’t need, and happier with fewer possessions around you.

Andrea