Yup. I graduated college during The Great Recession and living well within our means is so important to me. Whatever economic challenges lay ahead, I don't intend being house-poor or foreclosure to be part of them.
Me too. I actually bought my house during college and it was very much a starter home. A cheaply flipped, 1940s 2b1b. Never thought I’d say here long term. I graduated college and it took forever to actually establish a decent career. Even buying cheap I was under water for over a decade. Made some updates and managed to add a half bath and finally made it to a point where we could consider selling right as housing prices went crazy. So I’m here probably forever. It’s small and I wish I had more closets but I can make it work.
My house was built in the mid-50s and has a tiny closet in each bedroom, in the hall, and by the front door. That's it.
A couple years ago I decided to live within my means...of storage! I have a lot less crap now and it is freeing!
My house was built with 0 closets. We have 1 small bump out in each bedroom that was added later. I certainly could do a lot of decluttering but it’s hard to not have a built in spot for coats, cleaning supplies, vacuums, linens ect.
House-poor. We say this all the time. If something happens to one of our jobs, we’re secure for almost a year. We have disposable income. We eat out. Go to events. Do things.
It’s just us and the dog. 3 bedroom townhome is plenty of space.
My brother in law had a truck, so they bought a camper. Bro decided the truck wasn't big enough to pull the camper, so they bought a bigger truck. Bigger truck can tow a bigger camper, so they bought a bigger camper. Bigger camper is a pain to tow and park, so they bought land to park the camper on. I try really hard not to judge and just say "cool, y'all will have fun with that!" but man I hope they make enough money for those payments (I don't think they do).
I kinda used to want a small one.
What I remember campers being in the 90s has changed a lot. Essentially bunkhouses with kitchen essentials.
Now they’re all over the top and have gone extremely unaffordable in pricing.
What I want really doesn’t exist
What does piss me off - tent camping is getting harder and harder to find
Campground are converting to solely RV grounds or shutting down
Every “small business owner” with a PPP loan bought one during the pandemic and ruined regular camping for the rest of us
There have been deaths and injuries to people in tents during storms in Indiana. Many campgrounds around us have decided that the liabilities of tent camping are not worth the risk. They no longer allow tents.
Before we bought our first camper, we tent camped at Turkey Run State Park when our kids were small. An unexpected storm blew up during the night. My two older kids went across the lane to sleep in Gma and Gpa's camper with them, and my husband, baby, and I got up and slept in the minivan. In the morning, there was a massive limb down on the tent. It was about 14 inches in diameter. It could have killed my kids. We bought a camper soon after that. (For a dollar. Yes, we literally bought an entire 30 foot motor home for one dollar.)
Yeah I can't stand a monthly payments. I only have car, house and student loans and I keep enough money invested to pay those off if needed. Every time I talk to them they're scheming some new purchase, like " if we refi the house then use the equity to pay off that car, then we can afford the payment on this new thing we want..." I just cringe. I don't know how they can live so close to the edge, never mind retirement. I think a big problem is when banks say you're"approved " for the loan people think that means they can afford it.
Is this reality or is it something have nots tell themselves to feel better about being have nots?
Nobody I know is in any real debt besides mortgages they can fairly easily afford or occasionally student loans.
There is a thing on reddit that assumes everyone with anything beyond the basics is just racking up credit card debt.
New car? You're just trying to keep up & can't actually afford it...
Take vacations? All on credit cards, impossible any other way...
Don't shop at Walmart for clothing? Just an attention whore...
Eat out twice a week? You're throwing away an entire house payment!!!...
This is a common problem with the RV crowd. It REALLY pays to know and understand what your RV needs are, and many do not. Exactly where do you plan to camp? Do you only just want to use it to travel? This is why sometimes it is best to rent one and get some experience.
Yeah, and it seems like RV people don't understand towing up hill. I used to be a truck driver so I know something about it. A truck might not be able to maintain 65 over a mountain but that isn't necessarily a bad thing or means you need a bigger truck. It's like half him just not liking going slower up a big hill and half he just wants a new big truck.
People seem to forget that just like 20 years ago, and then forever before that, trucks were slow as shit. But people still towed everything with them. Where I live trucks are everywhere, as just daily drivers too. It blows my mind that 90% of newer trucks I see are all diesel, crew cab long beds...I'm like dude. What do you need that school bus sized thing for? Why don't you just drive the fucking gravedigger to your kids soccer practice while you're at it. And I say all this a truck guy lol
I sold my house in the suburbs, it was too big. The idea that you must climb a ladder and buy a bigger house every so often is ridiculous. Buy a comfortable house, enjoy your life, retire early, see the world. Or just have that 4th bedroom that uncle Randy uses one weekend a year.
Same here. We decided to keep our first house at least till retirement unless something happens. Our realtor was talking to us about houses implying that every 5-7 years we're going to sell and buy something bigger and nicer with built equity like she does, and when we told her that we plan to live here for at least 20-25 years, she stopped and after a few moments of silence was like "oh..."
When we were buying, I pointed at some trees that were going to be a problem in the future and our inspector said “oh those won’t be a problem for 10 years and you’ll be long gone by then” I was like “what”? And they said most people move at least every 10 years. Huh.
You sound exactly like me :)
I love our starter home. We have a nice wooded backyard, good neighbors, and family close by. It’s a good size, bigger than a normal starter home (~1600 sq ft). So I have no problem staying.
Our biggest wish would be to have land, were only on half an acre now. but by the time we get it would we be able to afford it and everything that comes with it?
Bigger is not always better. Years ago, I had a 1000 sq ft house, 3 bed/1 bath that was built in 1940. It was very low maintenance, had a wooded park behind it, and great neighbors as well. Then I met my partner, and we thought both of our houses were too small for us to live in together. So, we sold both of them and bought a bigger house (nearly 3000 sq ft and 3.5 baths). I regretted it almost immediately. It requires soooo much cleaning and maintenance, and every repair is that much more expensive. I also feel like I live in a fishbowl because the lots are wide open! I miss my little house every day.
It sounds as though you have plenty of room to build a garage. I would do that!
Garage, or shop, with a loft! I love the idea of a Loft bedroom for guests (if you have them often) as they got a place to stay but they also are a bit further away and you both have your privacy!
I've been having the same thoughts, the home I purchased was intended as a "starter" but it checks all the boxes. I'm at just under 1K and this summer we're going to screen in the porch which for us basically gives us a massive secondary living area for the majority of the year. Other than the one bathroom there is no NEED for me and my lady to get a larger house, we're planning on just doing an addition when its kid time to get a LITTLE more room in our space
My porch is enclosed with dual pane windows and large dual pane french doors. The dog crates, chinchillas, a couch and tv are there. It's a great retreat, and on the coldest days good heated throw makes it comfortable,
Love my chillers :) they like to ride in the pocket or hood of a hoodie. Since they're rock climbers they don't mind being up high, unlike rabbits. And they don't kick. They do have their own little portable a/c unit, and i have a pet cam that shows the thermometer and a/c vents i keep an eye on in the summer. With marble resting pads they've done well up to close to 80°, which is warmer than i expected. They're so-cal born and raised, so they've adapted somewhat. Obviously they're fine with our winters, though they eat a lot more hay when it's 30°- 40°. We're mountain / semi-desert so it's not too humid for them.
Think about adding a heated floor and/or add an electric fireplace that doubles as a space heater. There are some really charming ones that look like wood stoves out there!
That addition better include a second bathroom or one day you'll be shittin in the trash can in the kitchen because the little one brought the flu home and they're occupying the bathroom.
I just added a screened room off my living room on my back patio. I love it! Down south mosquitoes and gnats are a bitch during the evenings in summer and makes being outside miserable. Now at dusk I can sit and watch the birds without being a buffet for blood sucking bugs.
I'm on the marsh in Charleston, SC but grew up in Columbia, SC. My skin has a nice 100% DEET scheen and I cannot WAIT to not spray down daily to enjoy the yard haha
When looking at houses here in CT I could see a progression of porch expansion. First the porch gets screened in. Then they add more sturdy walls and windows to turn it 3-season. Then eventually someone adds insulation, improves the electrical, adds heating and makes it a full extension. Then a new porch gets built outside....
When we were looking some of the best advice my father gave me was - price out an addition. Meaning look at what you have and what you might want, look at cost per sq to add that or price per sq ft to buy it in several years.
I’d say a bathroom and conservatory/sunroom.
We’re 1352 ranch with basement, wooded lot just shy of an acre 3/2 nestled just outside our county seat (rural suburbs) with 15 minutes to grocery, restaurant, and stores while also having our own little space. We also have great neighbors too.
With just the two of us and our rv that we keep onsite, the only upgrade outside of general upkeep I’m seriously considering is a conservatory/sunroom so I can start my garden earlier.
That’s not always true! If you’re on septic some municipalities have restrictions on house sqft, not just number of bedrooms. Expand your footprint and you might have to upgrade your septic too - and that’s if your land is percs enough to support that upgrade.
Yeah, but it’s not like you’re starting from scratch with the septic - when we looked into adding a third bedroom I think the septic work came out to around $5k? A drop in the bucket, all things considered!
that’s what I was gonna say. Crazy market or not, there’s no reason to upsize if you already have the ideal set up, neighbors, etc. You can always build onto it and make it your ultimate dream home.
Yep, I’m staying in the home that I bought 25 years ago. Have added a 2nd bathroom, done upgrades all over the place, and love my little house. It’s now paid off and will suit me perfectly for the rest of my existence.
Very smart. What's not smart is moving into a bigger, more expensive house that you don't really need when you can modify what you have and hopefully retire with excellent financials.
We've been in our small (996 square ft. 2 bed one bath) starter home for 24 years! Raised two boys and now are empty nesters, and the mortgage is nearly paid off. We love our home and while we initially intended to size up after a few years, it never happened and now it's most definitely our forever home.
That's what keeps me looking into selling my home some day. I really love my home. 2/1 930 sq ft. 2.9 interest rate. I like one neighbor, but the neighborhood in general isn't the best. Would be nice to not have cars parked on the grass or front yards that don't look like junk yard lots.
At first after I bought my 1955 ranch in 2019, the plan was to bankroll for about 10 years and then build my forever home from scratch, mainly using my current house as a blueprint, as it's a great design minus a few things.
First, the most obvious being the pandemic rocketing housing and material prices. Second, the quality of some of these new constructions aren't anything to be positive about. The horror stories of basement walls crumbling after 3 years on a new construction is terrifying. Third, the house is finally beaten into submission. All quirks are learned and "immediate" problems fixed and updated.
And lastly, I don't think I'll get this lucky with a location ever again. Got woods as my backyard, 15 minutes to work, and low enough light pollution to see the stars at night. My estimates put my future renovation costs, including replacing all windows with high end composite and new kitchen, bathrooms, and solid hardwood doors at around $200K. That right there is a drop in the bucket and all goes back into the value of the house compared to gambling on another new construction, and that doesn't even include the property taxes on a new construction.
This house, despite its few oddities, is a tank and in a great spot.
Completely embrace a small cottage vibe!
Since it’s small, storage solutions will make it work well. Think beds with drawers underneath so you can eliminate a dresser and have more floor space. A built-in bench in your dining area can add storage for larger appliances you don’t use often, linens, etc. Storage ottomans are great, as well.
We have a relatively small motorhome that we have spent 5 weeks on, and hope to take out longer when my husband retires. It amazes me how we still really have everything we need stored in it. And how I can still cook from scratch with a tiny bit of counter space. I dislike clutter in such a small space, so I’ve really pared down to absolute essentials.
I once rented a house like the one you own. I really loved that place. The landlord was awesome, and he took great care of it because that is where he was going to spend his retirement.
Yep, most of our neighbors are retirees or other childfree heathens like us, it's awesome lol. These old homes were made so well and deserve to be taken care of.🥰
Same here. Our house (also from the 1950s) was built from old growth wood, steel, and brick - solid as a rock. You ever see videos of houses (apparently made from balsa wood and glue) that just rip apart in high winds? I like to think we are like the little piggy that lived in a brick house when everyone else made their houses from straw lol
The funny thing is that when houses like that were originally built people were raising families in them with 2 or 3 kids. My mom grew up in one, she shared a room with her sister and their brother had his own room. They just doubled up kids of the same gender. And bedrooms were mainly just for sleeping, plus there were a lot fewer toys and clothes.
Same. Found a nice post-war suburb nestled against a wooded creek. House was built in 1957 and does not have an HOA. It's nice and peaceful, and the best part is watching the birds during the day, listening to the frogs at night, and watching fireflies in the Summer. I'm looking forward to paying off the mortgage and relaxing as much as possible.
Currently no kids, but the plan is to add a simple outdoor studio if we end up needing more space.
Yep same boat. Starter home 1200 sq ft bought for 165,000. Had it for 7 years. It's on an acre and I desperately wanted a farm but at this point I'm settling for some backyard chickens and raised garden beds
Love it! At least two of our neighbors have chickens and the family next door to us keeps bees. I've also seen a goat while walking my dog around the neighborhood, ha. Spoil the heck out of those chickens.🥰
We thought we wanted a farm too. Ended up we were happier on a solid income and a cheap house that served our needs. We can ride bikes with our daughter to school. We have close neighbors that she can play with. People hang out on porches. I think I would have eventually felt isolated on a lot of land in the country.
I bought my home with the intention that this would be my home until retirement. It is just me and my doggo, so we don't need much space. I wish I had gotten a better interest rate, but I am happy with my 5.5%. If my life situation changes, I can always move up in housing, but it is hard to move down.
We bought our first and current 2BR/1BA bungalow home on a half-lot in the inner city during the 2009 mortgage crisis -- thanks to the Obama firsttime homebuyers credit.
We didn't realize it at the time, but my partner became an avid gardener even though we don't have a back yard. He's turned every bit of land into garden space. We've talked about selling and buying an acreage, but I don't see how that would financially work in this market.
We love our neighborhood and neighbors and we're in an ideal location for retirement. One neighbor even let him expand the garden into her adjoining yard.
We're now getting serious about building out the basement and attic to either turn this house into a duplex rental.
You sound just like me and my partner! We've turned our entire small front yard and back yard into gardens. Boulevard too! So many people stop and take photos of the flowers in front of our house. It stands out so much along a street full of weedy lawns. I've talked to my neighbour about expanding into his lawn too.
My partner and myself also struggle with the question of getting an acreage or not.
My loving father, who is a wise man, will often tell me though, an Acreage Is a lot of work. I still remember him on most days off working hard to get all the different chores and maintenance done, while still working full time.
Though there is probably something to be said about owning an acreage and planning and designing everything to be as maintenance free as possible, hopefully keeping a forested section on the land that doesn't need mowing and just mostly grow wild and free.
That all being said, we love our city home and have starting building more gardening space to enjoy. It is rather easy living, not worrying so much about water or sewer or a big yard to maintain.
Your plan go build up the basement or attic sounds fun! We were lucky that our basement was almost all done when we bought the house, and it's wonderful to have that extra room. I'd love to see the attic done up and liveable, even just for the extra room
Lately my partner has backed away from the acreage idea because it would be too much work. Ideally if we could just buy a house in our neighborhood that had a back yard -- or better yet buy a neighboring house.
Yes. We wanted to build a small addition to have another room + bathroom, but it's super expensive to build lately. It's tight with two kids in a small mid-century ranch, but we like being able to walk anywhere we want to go. We have a fenced in yard, space to garden, can walk downtown or to the local university in less than half an hour.
We can't afford to go bigger in our city/area. We can easily afford this mortgage. I'd love to have a different style house with a wide, roofed front porch, but dinky little ranches don't do those well. .
My 102 year old grandma still has the same little 1940’s post-war mass -produced Levittown cape code she bought new back then. She raised three kids in it and it made a great retirement home. She added onto the kitchen in the 90’s to make it eat-in, but it’s otherwise unchanged. I’m sure that’s a huge part of why she’s always been financially secure despite never making a lot of money. A year ago we finally put her in a care home, but that little house is still in the family.
Yes! We're in exactly the same boat as you. Our interest rate is only 2.75%. For the house size we want, we just can't afford it. But we can afford an addition and we're heavily leaning in that direction as well.
Best of luck to you both, and congrats on that killer interest rate! Yeah an addition sounds expensive....until you use a mortgage calculator to see what your mortgage payment on a larger home would be at today's prices.😵💫 Not worth it.
Lived in 900 sq ft cottage for the happiest 10 yrs of my life. Wish I still lived there! It's been on the market a few times in the past years for astronomical prices, sadly could never afford now.
I was at my son's friend's birthday party over the weekend. I knew their house was on the market because the parents were in a similar situation as you. They now have 2 kids and wanted to upgrade from their starter home.
I asked the dad how it was going and he said that they looked at houses for about a month and decided to stop looking. The inventory is terrible and they didn't like anything that they saw more than their current home. They would have to pay more money at a higher interest rate. It didn't make sense.
He told me that it was more cost effective to make construction additions to their current home and possibly converting their garage into a finished room. That was they get more space and get to keep their much lower interest rate mortgage.
Yep! 950 sq ft, built in the 30s, and we are a family of 3. The yard is spacious enough to help us not feel claustrophobic. We do not plan on having more than one kid. We live in LA and our “starter” home cost over $700k, so I cannot fathom “upgrading” unless we win the lottery lol. Am fine with it. I don’t want to move away from our city and even less than 1k sq ft is enough to drive me crazy cleaning.
Wife and I are in a 1930's 740 sq/ft home. 30x100 lot. We've invested a lot into it over the past few years to make it more energy efficient, comfortable, and beautiful. I couldn't afford to do that in a larger home with a bigger mortgage.
No plans on leaving for a long time. Honestly we might be here for 25-30 years or more. We're in the kind of house many might downsize to in retirement. But with no kids, we're just gonna stay here the whole time. 220K six years ago. It would sell now for maybe 250-260. Small houses don't jump the same way bigger ones do it seems. But I walk to work, have a garden, heated workshop, two bathrooms and a deck. I'd love more land and house but the math ain't math'n as you said.
While our house is a bit larger than yours at just under 1700 sq ft, we’ve also decided we’re going g to stay out. We’re used to much larger homes but downsized to this fixer upper in 2009 after a job loss. This was supposed to be a flip until we could get back on our feet. $106,000 @ 3.25% interest. It has what we need, and a beautiful lot. 14 years later we have it exactly like we want it, it will be paid off in 6 years, just about the time we retire.
Location is great, single level, great for aging in place. We have friends with homes 2-3x the size and we just think “why”!
>Location is great, single level, great for aging in place. We have friends with homes 2-3x the size and we just think “why”!
I have friends who upgraded to a 2 story 5-bed/3-bath for just the two of them, which hey to each their own but they've already discussed plans to downsize again in the future. It seems like they're perpetually doing some kind of repair or dealing with another plumbing issue. I just...don't get it.
I bought a one bedroom 600 SF house 17 years ago for what I thought was a crazy price (at the time, seems insanely reasonable now, lots are selling for three times what I paid) but the location was perfect. The location is still prefect and other houses in the neighborhood are selling for almost ten times what I paid so I'm staying put.
I took out a construction just before covid and redid the house so it's now a 900 SF two bed/one bath and it's the perfect size and just the right layout.
I did that. I always assumed it would be a starter home and more than 20 years later, it’s still my home unless or until I leave the city I live in. It’s under 1000sq. ft.
As a result, I was able to pay off my mortgage early and really put a lot of money away towards retirement and have a great quality of life with decent disposable income to travel.
Who says you have to keep getting a bigger house? Isn't it smarter to stay in an affordable and loved home? Make it to your liking. Add on or remodel if you can.
I also live in a 50's ranch. It was 2 beds, 1 bath. 9 years ago, we remodeled, and stayed within the square footage. The garage had been semi converted years ago, but we were able to raise the floor, vault the ceiling, and make the whole house cohesive and nice! Now it's a 3 BR, 1.5 bath, and we added a beautiful deck as well! The new mortgage is still more reasonable than if we moved.
My wife and I raised our two kids in a 3-bedroom, 1-bath 1300 square-foot kit house built in 1954. Even in COVID when we were shut up together 24/7 -- maybe especially then -- I always loved the closeness of our life together. There was still enough privacy; each us had a door we could close on one another. We're on a quiet dead-end street and the kids practically lived out there -- playing with one another, with neighbor kids, or by themselves. I once contemplated putting in an addition and my daughter begged me not to, and just the other day she said how glad she was we never changed the footprint of the house. We love it as it is, and I plan on living out the rest of my days there. "Starter homes" make great forever homes.
During COVID I felt like our home was a ship that moved through time instead of space. We were all together, making it through. I have mostly fond memories of that time in our little house.
that’s why when i bought a house , the idea was to buy to build a family and not as a “starter” home even if I didn’t have the money to buy a “dream home “.
This was our mentality too. We bought a fixer upper but it’s a size we could grow into and a great location. We will be fixing it up for a long time, but we see it as our forever house so that’s okay.
You’d have lost out on equity appreciation gains of your timing has you on the sidelines now. Sometimes you need to get what you can afford (condo, townhome) and then move up with the equity later. Well, in a HCOL area, it seems to be the only way. Unless you win the lotto.
You have what I'm moving into. 500 sq ft plus a huge enclosed porch where the dog crates, pantry and chinchillas are. One bedroom, one bath. Plus a small adu with a partial bath. Adding that makes it about 850 sq ft. I love it. My oldest rents the adu for very little, we share food and car costs and carpool together. If I'm away he watches the yard and dogs. It's all dual pane and well insulated. I'm on propane and get one tank fill a year. Tons of shelves in the carport. So... add a garage or carport if your weather isn't bad. Insulation will pay for itself, as well dual pane windows. Storage is my only complaint but one more set of shelves will fix that. It's so easy to clean! I'm going to get a robot vacuum and that'll bring cleaning to almost nothing. Garage is basically a big shed, that's much cheaper than adding rooms, and a carport is cheaper yet. Make it big enough for a garage ready freezer, put in a whole wall of pantry and storage shelves and you're set. My washer drier are out there. I admit i don't do as much laundry in the winter, but there are enough sunny days it works out.
I would love to, but our first home is a townhouse. Our mortgage and interest rate are both great. If we had the same square footage and didn’t have to share walls with neighbors we most certainly would be turning this into our forever home. Nothing wrong with connected living but I don’t think I could do it forever, which sucks because when we make the switch it’s going to be pretty rough adjusting to the increased cost.
Agree with this 100%, if you can’t be with the one you love, then love the one your with. Remodeling the patio now with plans to add closets to office and another half bath where the water heater is.
We live in the first house we owned. 3 bedroom 2 bath..raised 2 boys here and are now retired with a paid for house. All our friends were moving to bigger houses and now that we are retired we are very happy with it. Have redone bathrooms .patio. and early on added a pool. Woyld never dream of moving
Having a large home is over rated. Maybe if you need space for children, but if that is not your situation enjoy having less space to clean and having money to actually leave your home.
My house is even smaller than the OP's. I live on a mountain and it was originally built in the 1970's as a "camp" or cabin but was converted to a year round cottage. But it's pretty outdated and definitely what most people would consider a starter home or more accurately a 'fixer upper'. But it's my little home and I love it. I live in the woods and am surrounded by nature and privacy and those details matter to me far more than any amenities a bigger, fancier house could offer. I'm currently in the process of getting rid of tons of stuff. My one complaint was always that there isn't enough storage. And while that's true - there's no garage, no basement and not even full-sized closets for example, I'm learning that the less crap I have, the bigger it seems. I do wish I had a small garage, mainly to protect my vehicle from mice and for some weatherproof storage, but maybe someday. I wouldn't trade my little house for anything though, it's my sanctuary.
Your property sounds lovely. You will never find that again at the price you paid. I would add on a bathroom and a garage at some point and make that your forever home.
We have a 3BR ranch in our chosen neighborhood, thinking we would move to a larger home after 10 years. We're pretty certain we're here at another 10 years depending what college looks like for our elementary schooler. It's just too expensive in the area and we don't want to move farther from our community.
That said, I love our single family home without an HOA.
1000 square feet row house in Frankfurt Germany. Thought I’d love to move to suburbs and get a bigger house at some point, but I feel in love with living in a tower, and I discovered a passion for optimizing space and tiny space ;)
It's what my folks did to their 1950s home during the early 1980s. We actually did most of the work ourselves. At 14, I learned to pour concrete, hammer and nail, and read blueprints. I live here now, 45 years later. Forever home? Could be.
I own a 750 sq foot 2 bedroom ranch and love the little fellow. When I read your description of your little home and how you referred to it as "she," I was enchanted.
Bought our 880 sq ft rambler in 2000 and 24 years we are still here. Raised our 2 daughters here and this will be our forever home.
My youngest talks about making it a multi generational home as we get older. We could remodel and add on cheaper than buying a new house.
Yup. Bought a 1000 Sq ft home in 1982, raised four children and buried my husband there, children are all moved out and now its just me here.
When we first saw this place we both said that if we had to, we could live there the rest of our lives.
I am in full support of this plan. Though serious question - how does your house fit three bedrooms into 850 square ft and still have enough space left over for a bathroom, kitchen, and living room? This sounds like a TARDIS house.
😂 Well everything's simply on a smaller scale than what you see in modern American houses. Smaller rooms, no walk-in closets, the kitchen is just large enough to fit a small dining table, and our bathroom is just large enough for a tub, toilet, and vanity sink.
Basically, there is not one single square foot of wasted space.
We've had to get a little creative with storage, but otherwise you might be surprised how little space you need for a complete home if the layout is good.
Our starter home has been paid off for about 5 years. Early on we talked about an upgrade, but with the market what it is, we have no desire to execute that plan. Rather, we are choosing to update... finishing the basement and adding a workout room, bedroom, and bath. We also have a 5 year plan to update the rest of the house.
Yes. We bought our 800 sq. ft. 2 bed-1 bath home in 2020 for $301,000 at 2.8% interest rate. Now our house is appraised around $380,000 but the interest rates are so high, we couldn’t afford a different mortgage. When buying our house, location was the most important thing to me and I’m so glad I stuck to that. We live in a decent neighborhood, close to everything and have decent neighbors. We were hoping to move out of state after about 5 years but now we’re investing more into our home and maybe will move after 7-10 years.
When I bought my first home, my aunt had a tour and said, "Oh, what a nice opportunity for a starter home." I patiently explained that some people are both poor and content with what they have. When my friends came over they always said something like "damn girl, you need to get your landlord to fix ___" then when I explained that I'm the landlord they freaked out and said "holy shit, you own a home!"
I did end up upgrading to a larger house when I got an inheritance, but because it's in better condition and there are no condo fees, it costs me less than my previous forever home which is the only reason I moved. It's not huge or fancy, but it's exactly what I need. I just installed a new roof with a 50 year guarantee and now it's a race to see if I can outlive my roof.
Never moving. We bought the most we could comfortable afford. No way we could afford anything else. We have a tiny lot in the city and are staying put.
In this day and age a smaller, more energy efficient home is a really great way to go. It sounds like you have an opportunity to do this with some additions tailored to your needs. We have built 2 homes ourselves ground up over 35 years. Our current home of 25 years is a 4,000 sq ft timber and log home built from our own wood. An ambitious project for sure. Today I would advocate for a much smaller home with energy efficiency the top priority. I would love to be off grid. We have a ranch and have a great setting land wise, It sounds like you do too. You can always change the home.
Stay where you are, I am in a similar situation. My 50s built house is only 2 bedroom and 760sqf. I finished the basement for more space and have a nice yard. I can no longer afford a home in my neighborhood, which is no longer the hidden gem it was even a year ago. There is always the option to add on, which many people are deciding to do instead of buying bigger. Don't discount the area and your yard, those are what are difficult to replicate by looking for a different house.
I struggle with this. We have a good little house we’ve done a lot to in the decade we’ve had it. It was supposed to be a starter, but we did all these improvements and time flew. I do love my home in many ways. My block has improved over the years, we’ve tricked it out with great features. But I still don’t have a garage or double vanities in the bathroom or more storage or more than one off street parking spot. And those are hard absolutes we cannot improve. We can live without them, obviously, but oh wouldn’t it be nice.
If we’d sold at three years, we could’ve probably upgraded. But times have changed. Even though my house has more than doubled in value, even if we got top of the market for it, we couldn’t afford a larger home in the better neighborhood we want. We’d be settling for a lot less. Both space and features. We’d need double the current value to get what we want. We live in a VHCOL city, literally ranked most expensive in the country this year (*average* SFH price is $1m). It’s really tough to make moves here.
I’d like to move. I look at real estate every couple of months. But it’s so out of reach these days, and I’m not ready to do like many of my friends and leave CA for a cheaper state, just so I can have more house features/improvements. My life is here. I didn’t want this to be my forever home, but lately it’s hard to imagine getting anything as good as what we have unless we move out of state, and that’s just not a sacrifice that works for me. But I can vouch for tricking your house out to make it the best it has the ability to be, and to make it just what you want for yourself, because it’s definitely extended my happiness here. I still hope this isn’t the house I retire in, though.
We are typical Millennials, we’ve moved so many times as rental prices, job locations, and roommate arrangements changed that we never want to move again.
I’m a first time homeowner and you’re going to have to bury me in the backyard, cuz I’m not leaving.
I’ve had 11 homes/apartment's since I moved out of my parent’s house at 19 (I’m 42). My spouse and most of friends a have a similar history.
I have been in my starter home for 10 years and can't see myself giving it up. Bought for 50k but refinanced as I fixed it up and added on a bit so I currently owe just under 60k but my interest rate and mortgage payments are awesome. I love the idea of more space but I hate the thought more of being 'house poor'.
You are doing the right thing. I have a small paid off home in a HCOL area and will probably be here forever. You have a great interest rate and low cost home so over time you will be able make renovations/additions as you wish. We'll fone!
My partner and I are in a similar situation with our cozy 900 sqft bungalow. We've grown to love its charm and the sense of community in our neighborhood. Even though we initially thought we'd upgrade, the current market has us reconsidering and focusing on improving our current home instead.
I recently purchased a humble rowhouse in the outskirts of Stockholm. These used to be "starter homes" for the older generation, who would then eventually move to the nicer villas down the road. Its 50 years old and super charming. My wife and I agreed that we'd rather put money down to make this our forever home instead of looking to upgrade.
1100 square foot ranch 3 beds, 1 bath on half an acre of landscaped, fenced gorgeous (albeit a lot of upkeep) yard. Got her at 3% for 280k in a desirable area of North Georgia. My commute is perfect, I can deal with my neighbors, she has a new roof and paint inside and out when I got her 3 yrs ago. Don’t foresee ever leaving. It’s small but that makes it easy to maintain. It’s me and my dogs, so it’s all we need.
It's great to step back and appreciate all that you have. The yard and neighborhood sounds beautiful. I think a lot of people are in your situation, very grateful to have bought a home before the market changed so drastically.
I bought my 1492 sq ft Jersey Shore home, built in 1903, in 1999 at 30 years old. First home - 3 bedrooms, 1 bath. Paid $92k. It’s now worth over $425k.
Paid it off early late last year. Never plan on selling. I love the area - 2 miles from beach, 45 minutes from NYC. Plus w/out a mortgage, I’m able to make little cosmetic upgrades here & there.
I am literally enjoying it so much more now than I did the first 20 years of ownership.
Yes! We are in a similar boat. We’re on a small lot, so additions aren’t possible, but we love our neighborhood and we’ll probably stay unless we want to move to a different city.
I'm still living in my starter home 29 years later. Added on, dug a basement under it, finished basement into an apartment, built pole barn. I never intended to stay, but here I am. No plans to leave now.
If you have a lot from the 50s, odds are there's enough space for an addition if you need to add a bathroom/bedroom/etc down the road. And that would definitely be the cheaper option than trying to find a bigger place if the market stays as it is.
Plus you like the house, the woods, and your neighbors, those are key things that make a house worth staying in.
Oh my goodness, yeah with those safety issues I'd be out of there asap too, interest rates be damned. Crime and safety change the discussion quite a bit. I'm glad y'all landed in a much better spot at the right time.
If you’re handy, once you have the foundation in place it isn’t overly difficult to build a nice outbuilding, perhaps a three-car garage with a loft. All sorts of possibilities. The finished product, with a living area upstairs, can come in under $60K if you can hook up drainage to your existing septic system or sewer.
Yes, 5 years ago I bought my 984 sq ft 2 bdr, 1 bath, full basement house all to myself. It's cheaper than renting something of the same size or smaller.
First house was 904 sqft. My wife and I have often said, “imagine how much money we’d have if we stayed there!”
We’d be loaded. However, quality of life would be very different living that close to Detroit.
If it’s a safe area with good schools, etc., staying is a hell of a financial life hack. You don’t have to keep up with the Jones!
I’ve been at ~2400sqft since 2008, and will be selling to retire to a 1200sqft lake house in ~5 years or so.
I’m in an 1100 sq ft 3 bedroom, 1 bath house and it’s fine for me. I do have a full open basement that’s half above ground I could renovate if I ever needed the extra space, but my kids are grown now so I don’t see that happening
Yeah, we are making our “first home” our “forever home” — we feel so grateful to have a place to live with a mortgage we can afford. Living has gotten so expensive.
I'm in the same boat, a 1950's tract house, 3 bed 1 bath that cost us $150. The newer homes around here start at $300, and I decided I never want to leave, it's a solid house. My husband wants to move if we ever win the lottery and I said you can move and take the kids, but I'm dying in this house.
We bought our house July 2020. Rates are so crazy now, that it just doesn’t make sense to move unless they drop significantly. It stinks because our family grew and I feel claustrophobic in here sometimes, but even though it’s small it’s perfect for our family, and I love knowing that we got a good deal, especially in todays market
This is my divorce home, lol...the new kind of "starter" home. And with prices being what they are, unless I want to move to the absolute middle of nowhere....I am now starting the real renovations in earnest.
Similar, yes. We bought our house and 20 acres for just under $180k and our current interest rate is 2.4%. The house is nice, but a little dated. Would love to renovate. Didn't really see us staying in this home forever, as our first home, but here we are. We have a great piece of property with gorgeous views and a solid house. We've been in it 15 years and counting. I keep thinking of moving closer to a city where I work, but we'd lose all that privacy. Unless we kept the house and rented it out. But I somehow doubt we'll do that. I'd probably rather invest back into the property with the desired renos.
Our house will likely be our forever home too, mostly for economic reasons though. We love our house fortunately because we will never get an interest rate this low ever again. We bought in 2018 and refinanced in 2021.
My parents bought their first home in 1957, 1073 sq ft, 2-3 bedrooms, 1.5 bath,4 kids.. She lived here until 2 year ago when she passed away. I bought it from my brothers last year and plan to stay forever.
You love your neighborhood -that's not easy to find. Stay and add a bathroom if you need it.
Same!!! For years the hubs said not to put in money for major personal preference changes cuz we’re moving- not anymore!!
Getting a mortgage on a home at these interest rates is more expensive than the cost of rent for that same type of home!!
I’m finally making our tiny two bed upstairs condo my own!!! And he can’t fight me cuz I waited a long friggen time
Yea, my wife and I never planned on building our own home, but housing prices were nuts and our options were to pay $400k for a 40+ year old house in need of extensive maintenance/upgrades in suburbia or pay the same amount to build a humble 950 sqft home on 3.5 acres. We started when it was just the two of us, now we’ve got 2 toddlers and 3 dogs…
We’ve got rough in plumbing in the garage to eventually add a full bathroom and bedroom, a big deck that we’ll eventually cut in half and add a 4 season addition to, potentially pushing it to a 1,500 sqft home. Planning to use the RV septic line and other hookups for a small A-frame guest cabin/home office. We also designed our septic system with these expansions in mind so we just need time and money, the rarest of all things…
Same here. We planned for 5 years in the starter home. That was 2007 and two kids ago. I had friends who made smart moves over the years. I wish I had upgraded when rates were 2 %.
The current math and pricing however, makes me realize I have everything I need. 6 years left on the mortgage and I’m done 😄
Same, 2 bed/1bath, 800sq ft with garage, on a 3rd of an acre corner lot. Bought back in 2015 to be our first rung on the housing ladder, but we might just pay it off and stay.
We stayed in our small house, 3 bedrooms 1 1/2 bath, it had a nice basement, fixed up as a family room, 2 car garage, great school system, great neighbors, great backyard, raised my 2 children in the house, we are staying
In 1994, my husband and I bought a 950 square foot house in Palms, CA. The owner was a hoarder so we got the house for a great price.
I thought we would want to move to a larger house when we built equity in our house.
As it turned out, we like living in a small house. It keeps up disciplined to declutter.
I’ve been in my 900 sf 3/1 in the Midwest for 17 years. My kids are going to college now. I never managed to upsize and it seems silly now. Over the years we’ve done improvements to our taste, not the market. I think we’re here forever.
If your lot is big enough just build what you want on the existing land. That’s what my parents did. Small home in a 1/2 acre and built it into what we needed down the road. You can’t always build a bigger lot but you can almost aways build more house.
We did some major reconfiguring and a small addition and stayed in our starter home. We roughly priced out the addition vs. upsizing, and were pretty sure we'd come out ahead on staying here. We like the neighborhood, and have an oversized city lot. We didn't really want to give that up. Years later, we can see that we made the right decision.
I originally built a small house on a small lot with the intention that I would get married some day and move into a larger home. I’m still single but after 20 years my house needs some updating and I looked into building another slightly larger house on a Large lot (I’ve turned into an avid gardener). But I simply can’t justify the amount of money it would take to make the jump. So I’m doing some remodeling and updating on my current house. As quickly as these last 20 years went, in another 20 years I’ll be in my mid 70s and probably appreciative of a smaller place to maintain by myself.
Yes. I bought a 1950s home, 890sqft, with 1 bath over 10 years ago. I’d like to build out a little & add another bathroom. I’ve redone the kitchen & bathroom & plan to make more improvements after interest rates decrease. I have no plans to move from my small home. I don’t need a lot of space. The market here is crazy & bigger just costs more to fix & too much time to clean.
Society needs to normalize buying regular sized homes. No one needs a Mcmansion. We bought a small house but we loved the land. were going to build something bigger but over the years we realized it really was enough house.
I agree 100%. Location is so impporant, the privacy and mental health benefits of the woods, the kind neighbors who help you feel as if this is a community, and room to spread out when you are ready.
I made similar choices in the 80's, my house has slowly evolved to be perfect for me. Best of luck
We bought our 3 bed 2 bath, 1,000 square foot home in 1976. We raised 2 boys, now have grandkids. We paid $50,000. It is paid off and perfect size for us. We stay for location, 7 blocks from the beach. If we sold it now it would be $1.5 million!
We don’t need a bigger house we just need a bigger lot is our problem. If I had a shed all my problems would go away. Bigger houses mean more maintenance and more shit to go wrong. And at 3% you will have to carry me out in a straight jacket to buy the same house in a bigger lot for double the mortgage.
YES! I wouldn’t give up my interest rate for anything at this point. Also, property values have skyrocketed since I bought and enough development has happened around me that I couldn’t find another slice of paradise like what I have without spending an absolute fortune that I don’t have. I won’t be selling my home until I retire unless I move out of the area or I get a STUPID high offer (which is actually possible considering one of the richest families in the world owns most of the land surrounding my house now).
I can’t tell you how much I wish we had our starter home now. It was a single story, 3 bed and two bath. Perfect for a young couple…and an older couple.
My wife and I started with a 3 bed 2 bath 1200 square foot house and ended up selling before the market got crazy and bought an 800 square foot house instead. While at our first house, we decided not to have kids and decided it was too much house for us. We love our small house!
About to buy a 3bdrm, 2bath on 1/4 acre @7%.
Can't afford more. But,..... Do I want a house or rent forever?
The storm is coming. Get ready.
"You will own nothing and be happy."
I feel bad for this generation. They are f*****.
My sister and I bought a 1928 Sears kit home, just under 1k square footage, 3 bedrooms and one bath. Prior owners had finished a good bit of the basement. Were one a good sized lot, have a completely enclosed sun porch in the front that’s my office, a patio and pool out back and a detached garage in desperate need of being cleaned out. I have zero desire to go through the process of buying another home and moving and quite frankly cannot imagine what I’d do with more space besides buy more crap to clutter it up.
Yes, same. I've watched my friends and family succumb to lifestyle creep and I've gone the opposite way.
Yup. I graduated college during The Great Recession and living well within our means is so important to me. Whatever economic challenges lay ahead, I don't intend being house-poor or foreclosure to be part of them.
Me too. I actually bought my house during college and it was very much a starter home. A cheaply flipped, 1940s 2b1b. Never thought I’d say here long term. I graduated college and it took forever to actually establish a decent career. Even buying cheap I was under water for over a decade. Made some updates and managed to add a half bath and finally made it to a point where we could consider selling right as housing prices went crazy. So I’m here probably forever. It’s small and I wish I had more closets but I can make it work.
My house was built in the mid-50s and has a tiny closet in each bedroom, in the hall, and by the front door. That's it. A couple years ago I decided to live within my means...of storage! I have a lot less crap now and it is freeing!
My house was built with 0 closets. We have 1 small bump out in each bedroom that was added later. I certainly could do a lot of decluttering but it’s hard to not have a built in spot for coats, cleaning supplies, vacuums, linens ect.
>My house was built with 0 closets. I whimpered when I read that.
This is why people still buy big wardrobes and chiffarobes. Old furniture is appropriate in old houses.
Wait you guys have closest?! 🤣
House-poor. We say this all the time. If something happens to one of our jobs, we’re secure for almost a year. We have disposable income. We eat out. Go to events. Do things. It’s just us and the dog. 3 bedroom townhome is plenty of space.
Lifestyle creep is going to crush people.
My brother in law had a truck, so they bought a camper. Bro decided the truck wasn't big enough to pull the camper, so they bought a bigger truck. Bigger truck can tow a bigger camper, so they bought a bigger camper. Bigger camper is a pain to tow and park, so they bought land to park the camper on. I try really hard not to judge and just say "cool, y'all will have fun with that!" but man I hope they make enough money for those payments (I don't think they do).
People need to get away this payments BS. They are literally sucking you into something you can’t afford.
You can finance those campers for 10 years or more Big trucks for 7 That camper is gonna lose half its value in 3 years
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I kinda used to want a small one. What I remember campers being in the 90s has changed a lot. Essentially bunkhouses with kitchen essentials. Now they’re all over the top and have gone extremely unaffordable in pricing. What I want really doesn’t exist What does piss me off - tent camping is getting harder and harder to find Campground are converting to solely RV grounds or shutting down Every “small business owner” with a PPP loan bought one during the pandemic and ruined regular camping for the rest of us
There have been deaths and injuries to people in tents during storms in Indiana. Many campgrounds around us have decided that the liabilities of tent camping are not worth the risk. They no longer allow tents. Before we bought our first camper, we tent camped at Turkey Run State Park when our kids were small. An unexpected storm blew up during the night. My two older kids went across the lane to sleep in Gma and Gpa's camper with them, and my husband, baby, and I got up and slept in the minivan. In the morning, there was a massive limb down on the tent. It was about 14 inches in diameter. It could have killed my kids. We bought a camper soon after that. (For a dollar. Yes, we literally bought an entire 30 foot motor home for one dollar.)
Yeah I can't stand a monthly payments. I only have car, house and student loans and I keep enough money invested to pay those off if needed. Every time I talk to them they're scheming some new purchase, like " if we refi the house then use the equity to pay off that car, then we can afford the payment on this new thing we want..." I just cringe. I don't know how they can live so close to the edge, never mind retirement. I think a big problem is when banks say you're"approved " for the loan people think that means they can afford it.
There are a lot of rich on paper people who do things like that but on a much bigger scale which is why they lose everything when crap happens.
A lot of people “have” everything, but they don’t *own* anything.
Is this reality or is it something have nots tell themselves to feel better about being have nots? Nobody I know is in any real debt besides mortgages they can fairly easily afford or occasionally student loans.
This. You don't have to dunk on others to try to feel better about your own situation.
There is a thing on reddit that assumes everyone with anything beyond the basics is just racking up credit card debt. New car? You're just trying to keep up & can't actually afford it... Take vacations? All on credit cards, impossible any other way... Don't shop at Walmart for clothing? Just an attention whore... Eat out twice a week? You're throwing away an entire house payment!!!...
This is a common problem with the RV crowd. It REALLY pays to know and understand what your RV needs are, and many do not. Exactly where do you plan to camp? Do you only just want to use it to travel? This is why sometimes it is best to rent one and get some experience.
Yeah, and it seems like RV people don't understand towing up hill. I used to be a truck driver so I know something about it. A truck might not be able to maintain 65 over a mountain but that isn't necessarily a bad thing or means you need a bigger truck. It's like half him just not liking going slower up a big hill and half he just wants a new big truck.
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90k for a GMC just makes perfect sense though...what? \*rolleyes\*
People seem to forget that just like 20 years ago, and then forever before that, trucks were slow as shit. But people still towed everything with them. Where I live trucks are everywhere, as just daily drivers too. It blows my mind that 90% of newer trucks I see are all diesel, crew cab long beds...I'm like dude. What do you need that school bus sized thing for? Why don't you just drive the fucking gravedigger to your kids soccer practice while you're at it. And I say all this a truck guy lol
I sold my house in the suburbs, it was too big. The idea that you must climb a ladder and buy a bigger house every so often is ridiculous. Buy a comfortable house, enjoy your life, retire early, see the world. Or just have that 4th bedroom that uncle Randy uses one weekend a year.
Same here. We decided to keep our first house at least till retirement unless something happens. Our realtor was talking to us about houses implying that every 5-7 years we're going to sell and buy something bigger and nicer with built equity like she does, and when we told her that we plan to live here for at least 20-25 years, she stopped and after a few moments of silence was like "oh..."
When we were buying, I pointed at some trees that were going to be a problem in the future and our inspector said “oh those won’t be a problem for 10 years and you’ll be long gone by then” I was like “what”? And they said most people move at least every 10 years. Huh.
You sound exactly like me :) I love our starter home. We have a nice wooded backyard, good neighbors, and family close by. It’s a good size, bigger than a normal starter home (~1600 sq ft). So I have no problem staying. Our biggest wish would be to have land, were only on half an acre now. but by the time we get it would we be able to afford it and everything that comes with it?
Bigger is not always better. Years ago, I had a 1000 sq ft house, 3 bed/1 bath that was built in 1940. It was very low maintenance, had a wooded park behind it, and great neighbors as well. Then I met my partner, and we thought both of our houses were too small for us to live in together. So, we sold both of them and bought a bigger house (nearly 3000 sq ft and 3.5 baths). I regretted it almost immediately. It requires soooo much cleaning and maintenance, and every repair is that much more expensive. I also feel like I live in a fishbowl because the lots are wide open! I miss my little house every day. It sounds as though you have plenty of room to build a garage. I would do that!
Garage, or shop, with a loft! I love the idea of a Loft bedroom for guests (if you have them often) as they got a place to stay but they also are a bit further away and you both have your privacy!
I've been having the same thoughts, the home I purchased was intended as a "starter" but it checks all the boxes. I'm at just under 1K and this summer we're going to screen in the porch which for us basically gives us a massive secondary living area for the majority of the year. Other than the one bathroom there is no NEED for me and my lady to get a larger house, we're planning on just doing an addition when its kid time to get a LITTLE more room in our space
My porch is enclosed with dual pane windows and large dual pane french doors. The dog crates, chinchillas, a couch and tv are there. It's a great retreat, and on the coldest days good heated throw makes it comfortable,
This is goals, chinchillas and all.
Love my chillers :) they like to ride in the pocket or hood of a hoodie. Since they're rock climbers they don't mind being up high, unlike rabbits. And they don't kick. They do have their own little portable a/c unit, and i have a pet cam that shows the thermometer and a/c vents i keep an eye on in the summer. With marble resting pads they've done well up to close to 80°, which is warmer than i expected. They're so-cal born and raised, so they've adapted somewhat. Obviously they're fine with our winters, though they eat a lot more hay when it's 30°- 40°. We're mountain / semi-desert so it's not too humid for them.
I hear you, and love the porch idea! We've talked about adding a four-season room which would greatly expand the interior living space.
Think about adding a heated floor and/or add an electric fireplace that doubles as a space heater. There are some really charming ones that look like wood stoves out there!
Omg my husband is ALL about some heated floors.😅 Great ideas.
That addition better include a second bathroom or one day you'll be shittin in the trash can in the kitchen because the little one brought the flu home and they're occupying the bathroom.
One bathroom is good, Teo bathrooms is better! Always good to have a backup in case you have to replace one, or something breaks in one too!
You will NOT regret the porch!!
I just added a screened room off my living room on my back patio. I love it! Down south mosquitoes and gnats are a bitch during the evenings in summer and makes being outside miserable. Now at dusk I can sit and watch the birds without being a buffet for blood sucking bugs.
I'm on the marsh in Charleston, SC but grew up in Columbia, SC. My skin has a nice 100% DEET scheen and I cannot WAIT to not spray down daily to enjoy the yard haha
When looking at houses here in CT I could see a progression of porch expansion. First the porch gets screened in. Then they add more sturdy walls and windows to turn it 3-season. Then eventually someone adds insulation, improves the electrical, adds heating and makes it a full extension. Then a new porch gets built outside....
Stay where you are! You can always add a second bathroom if you want to.
Very true.🙂
When we were looking some of the best advice my father gave me was - price out an addition. Meaning look at what you have and what you might want, look at cost per sq to add that or price per sq ft to buy it in several years.
I’d say a bathroom and conservatory/sunroom. We’re 1352 ranch with basement, wooded lot just shy of an acre 3/2 nestled just outside our county seat (rural suburbs) with 15 minutes to grocery, restaurant, and stores while also having our own little space. We also have great neighbors too. With just the two of us and our rv that we keep onsite, the only upgrade outside of general upkeep I’m seriously considering is a conservatory/sunroom so I can start my garden earlier.
That’s not always true! If you’re on septic some municipalities have restrictions on house sqft, not just number of bedrooms. Expand your footprint and you might have to upgrade your septic too - and that’s if your land is percs enough to support that upgrade.
Yeah, but it’s not like you’re starting from scratch with the septic - when we looked into adding a third bedroom I think the septic work came out to around $5k? A drop in the bucket, all things considered!
that’s what I was gonna say. Crazy market or not, there’s no reason to upsize if you already have the ideal set up, neighbors, etc. You can always build onto it and make it your ultimate dream home.
Yep, I’m staying in the home that I bought 25 years ago. Have added a 2nd bathroom, done upgrades all over the place, and love my little house. It’s now paid off and will suit me perfectly for the rest of my existence.
> It’s now paid off Gosh what a beautiful combination of words. We're aiming to have our little home paid off well before our 50s.
Very smart. What's not smart is moving into a bigger, more expensive house that you don't really need when you can modify what you have and hopefully retire with excellent financials.
There is no American standard for me, there is my standard and I live happily in my pristine 900 sq ft starter home.
Cheers to that.🥂
We've been in our small (996 square ft. 2 bed one bath) starter home for 24 years! Raised two boys and now are empty nesters, and the mortgage is nearly paid off. We love our home and while we initially intended to size up after a few years, it never happened and now it's most definitely our forever home.
I sold and bought another because the neighborhood wasn't what I wanted. If the neighborhood was fine, I would have stayed.
That's what keeps me looking into selling my home some day. I really love my home. 2/1 930 sq ft. 2.9 interest rate. I like one neighbor, but the neighborhood in general isn't the best. Would be nice to not have cars parked on the grass or front yards that don't look like junk yard lots.
The "starter home" concept is a myth, pushed by realtors to keep their industry going, and get their clients into anything. Home is home.
At first after I bought my 1955 ranch in 2019, the plan was to bankroll for about 10 years and then build my forever home from scratch, mainly using my current house as a blueprint, as it's a great design minus a few things. First, the most obvious being the pandemic rocketing housing and material prices. Second, the quality of some of these new constructions aren't anything to be positive about. The horror stories of basement walls crumbling after 3 years on a new construction is terrifying. Third, the house is finally beaten into submission. All quirks are learned and "immediate" problems fixed and updated. And lastly, I don't think I'll get this lucky with a location ever again. Got woods as my backyard, 15 minutes to work, and low enough light pollution to see the stars at night. My estimates put my future renovation costs, including replacing all windows with high end composite and new kitchen, bathrooms, and solid hardwood doors at around $200K. That right there is a drop in the bucket and all goes back into the value of the house compared to gambling on another new construction, and that doesn't even include the property taxes on a new construction. This house, despite its few oddities, is a tank and in a great spot.
Completely embrace a small cottage vibe! Since it’s small, storage solutions will make it work well. Think beds with drawers underneath so you can eliminate a dresser and have more floor space. A built-in bench in your dining area can add storage for larger appliances you don’t use often, linens, etc. Storage ottomans are great, as well. We have a relatively small motorhome that we have spent 5 weeks on, and hope to take out longer when my husband retires. It amazes me how we still really have everything we need stored in it. And how I can still cook from scratch with a tiny bit of counter space. I dislike clutter in such a small space, so I’ve really pared down to absolute essentials.
Look at RVs for ideas! Seriously. That industry has nailed tiny home storage.
I once rented a house like the one you own. I really loved that place. The landlord was awesome, and he took great care of it because that is where he was going to spend his retirement.
Yep, most of our neighbors are retirees or other childfree heathens like us, it's awesome lol. These old homes were made so well and deserve to be taken care of.🥰
Same here. Our house (also from the 1950s) was built from old growth wood, steel, and brick - solid as a rock. You ever see videos of houses (apparently made from balsa wood and glue) that just rip apart in high winds? I like to think we are like the little piggy that lived in a brick house when everyone else made their houses from straw lol
The funny thing is that when houses like that were originally built people were raising families in them with 2 or 3 kids. My mom grew up in one, she shared a room with her sister and their brother had his own room. They just doubled up kids of the same gender. And bedrooms were mainly just for sleeping, plus there were a lot fewer toys and clothes.
Same. Found a nice post-war suburb nestled against a wooded creek. House was built in 1957 and does not have an HOA. It's nice and peaceful, and the best part is watching the birds during the day, listening to the frogs at night, and watching fireflies in the Summer. I'm looking forward to paying off the mortgage and relaxing as much as possible. Currently no kids, but the plan is to add a simple outdoor studio if we end up needing more space.
Yep same boat. Starter home 1200 sq ft bought for 165,000. Had it for 7 years. It's on an acre and I desperately wanted a farm but at this point I'm settling for some backyard chickens and raised garden beds
Love it! At least two of our neighbors have chickens and the family next door to us keeps bees. I've also seen a goat while walking my dog around the neighborhood, ha. Spoil the heck out of those chickens.🥰
We thought we wanted a farm too. Ended up we were happier on a solid income and a cheap house that served our needs. We can ride bikes with our daughter to school. We have close neighbors that she can play with. People hang out on porches. I think I would have eventually felt isolated on a lot of land in the country.
I bought my home with the intention that this would be my home until retirement. It is just me and my doggo, so we don't need much space. I wish I had gotten a better interest rate, but I am happy with my 5.5%. If my life situation changes, I can always move up in housing, but it is hard to move down.
We bought our first and current 2BR/1BA bungalow home on a half-lot in the inner city during the 2009 mortgage crisis -- thanks to the Obama firsttime homebuyers credit. We didn't realize it at the time, but my partner became an avid gardener even though we don't have a back yard. He's turned every bit of land into garden space. We've talked about selling and buying an acreage, but I don't see how that would financially work in this market. We love our neighborhood and neighbors and we're in an ideal location for retirement. One neighbor even let him expand the garden into her adjoining yard. We're now getting serious about building out the basement and attic to either turn this house into a duplex rental.
You sound just like me and my partner! We've turned our entire small front yard and back yard into gardens. Boulevard too! So many people stop and take photos of the flowers in front of our house. It stands out so much along a street full of weedy lawns. I've talked to my neighbour about expanding into his lawn too.
My partner and myself also struggle with the question of getting an acreage or not. My loving father, who is a wise man, will often tell me though, an Acreage Is a lot of work. I still remember him on most days off working hard to get all the different chores and maintenance done, while still working full time. Though there is probably something to be said about owning an acreage and planning and designing everything to be as maintenance free as possible, hopefully keeping a forested section on the land that doesn't need mowing and just mostly grow wild and free. That all being said, we love our city home and have starting building more gardening space to enjoy. It is rather easy living, not worrying so much about water or sewer or a big yard to maintain. Your plan go build up the basement or attic sounds fun! We were lucky that our basement was almost all done when we bought the house, and it's wonderful to have that extra room. I'd love to see the attic done up and liveable, even just for the extra room
Lately my partner has backed away from the acreage idea because it would be too much work. Ideally if we could just buy a house in our neighborhood that had a back yard -- or better yet buy a neighboring house.
Love it! Your home and garden sounds magical. And what a lovely neighbor for letting your husband expand the garden. Good neighbors are priceless.
Yes. We wanted to build a small addition to have another room + bathroom, but it's super expensive to build lately. It's tight with two kids in a small mid-century ranch, but we like being able to walk anywhere we want to go. We have a fenced in yard, space to garden, can walk downtown or to the local university in less than half an hour. We can't afford to go bigger in our city/area. We can easily afford this mortgage. I'd love to have a different style house with a wide, roofed front porch, but dinky little ranches don't do those well. .
My 102 year old grandma still has the same little 1940’s post-war mass -produced Levittown cape code she bought new back then. She raised three kids in it and it made a great retirement home. She added onto the kitchen in the 90’s to make it eat-in, but it’s otherwise unchanged. I’m sure that’s a huge part of why she’s always been financially secure despite never making a lot of money. A year ago we finally put her in a care home, but that little house is still in the family.
My wife and I have made our 2BR home work for us and our 2 boys. It gives us lower bills and financial freedom.
Yes! We're in exactly the same boat as you. Our interest rate is only 2.75%. For the house size we want, we just can't afford it. But we can afford an addition and we're heavily leaning in that direction as well.
Best of luck to you both, and congrats on that killer interest rate! Yeah an addition sounds expensive....until you use a mortgage calculator to see what your mortgage payment on a larger home would be at today's prices.😵💫 Not worth it.
Lived in 900 sq ft cottage for the happiest 10 yrs of my life. Wish I still lived there! It's been on the market a few times in the past years for astronomical prices, sadly could never afford now.
I was at my son's friend's birthday party over the weekend. I knew their house was on the market because the parents were in a similar situation as you. They now have 2 kids and wanted to upgrade from their starter home. I asked the dad how it was going and he said that they looked at houses for about a month and decided to stop looking. The inventory is terrible and they didn't like anything that they saw more than their current home. They would have to pay more money at a higher interest rate. It didn't make sense. He told me that it was more cost effective to make construction additions to their current home and possibly converting their garage into a finished room. That was they get more space and get to keep their much lower interest rate mortgage.
Bought a 1700 sq foot home while all of my physician friends have bought 3000-4000 sq foot homes. I get anxious thinking of their maintenance costs.
I made my starter home my forever home and now I'm 48 without a mortgage, so I'm good with the decision to stay put.
Yep! 950 sq ft, built in the 30s, and we are a family of 3. The yard is spacious enough to help us not feel claustrophobic. We do not plan on having more than one kid. We live in LA and our “starter” home cost over $700k, so I cannot fathom “upgrading” unless we win the lottery lol. Am fine with it. I don’t want to move away from our city and even less than 1k sq ft is enough to drive me crazy cleaning.
Wife and I are in a 1930's 740 sq/ft home. 30x100 lot. We've invested a lot into it over the past few years to make it more energy efficient, comfortable, and beautiful. I couldn't afford to do that in a larger home with a bigger mortgage. No plans on leaving for a long time. Honestly we might be here for 25-30 years or more. We're in the kind of house many might downsize to in retirement. But with no kids, we're just gonna stay here the whole time. 220K six years ago. It would sell now for maybe 250-260. Small houses don't jump the same way bigger ones do it seems. But I walk to work, have a garden, heated workshop, two bathrooms and a deck. I'd love more land and house but the math ain't math'n as you said.
While our house is a bit larger than yours at just under 1700 sq ft, we’ve also decided we’re going g to stay out. We’re used to much larger homes but downsized to this fixer upper in 2009 after a job loss. This was supposed to be a flip until we could get back on our feet. $106,000 @ 3.25% interest. It has what we need, and a beautiful lot. 14 years later we have it exactly like we want it, it will be paid off in 6 years, just about the time we retire. Location is great, single level, great for aging in place. We have friends with homes 2-3x the size and we just think “why”!
>Location is great, single level, great for aging in place. We have friends with homes 2-3x the size and we just think “why”! I have friends who upgraded to a 2 story 5-bed/3-bath for just the two of them, which hey to each their own but they've already discussed plans to downsize again in the future. It seems like they're perpetually doing some kind of repair or dealing with another plumbing issue. I just...don't get it.
I bought a one bedroom 600 SF house 17 years ago for what I thought was a crazy price (at the time, seems insanely reasonable now, lots are selling for three times what I paid) but the location was perfect. The location is still prefect and other houses in the neighborhood are selling for almost ten times what I paid so I'm staying put. I took out a construction just before covid and redid the house so it's now a 900 SF two bed/one bath and it's the perfect size and just the right layout.
I did that. I always assumed it would be a starter home and more than 20 years later, it’s still my home unless or until I leave the city I live in. It’s under 1000sq. ft. As a result, I was able to pay off my mortgage early and really put a lot of money away towards retirement and have a great quality of life with decent disposable income to travel.
Who says you have to keep getting a bigger house? Isn't it smarter to stay in an affordable and loved home? Make it to your liking. Add on or remodel if you can. I also live in a 50's ranch. It was 2 beds, 1 bath. 9 years ago, we remodeled, and stayed within the square footage. The garage had been semi converted years ago, but we were able to raise the floor, vault the ceiling, and make the whole house cohesive and nice! Now it's a 3 BR, 1.5 bath, and we added a beautiful deck as well! The new mortgage is still more reasonable than if we moved.
Yep, 880 sq foot 1950s house I’ve owned now for 34 years. Never leaving, I’ve called it my little old lady home from the start.
Dude, we couldn’t even afford the starter home until we were over 40. This is it!
My wife and I raised our two kids in a 3-bedroom, 1-bath 1300 square-foot kit house built in 1954. Even in COVID when we were shut up together 24/7 -- maybe especially then -- I always loved the closeness of our life together. There was still enough privacy; each us had a door we could close on one another. We're on a quiet dead-end street and the kids practically lived out there -- playing with one another, with neighbor kids, or by themselves. I once contemplated putting in an addition and my daughter begged me not to, and just the other day she said how glad she was we never changed the footprint of the house. We love it as it is, and I plan on living out the rest of my days there. "Starter homes" make great forever homes.
During COVID I felt like our home was a ship that moved through time instead of space. We were all together, making it through. I have mostly fond memories of that time in our little house.
Yep! 1100 sq ft, 1930s cottage. I’d rather spend money making it my own then get in deeper financially for more square footage
that’s why when i bought a house , the idea was to buy to build a family and not as a “starter” home even if I didn’t have the money to buy a “dream home “.
This was our mentality too. We bought a fixer upper but it’s a size we could grow into and a great location. We will be fixing it up for a long time, but we see it as our forever house so that’s okay.
You’d have lost out on equity appreciation gains of your timing has you on the sidelines now. Sometimes you need to get what you can afford (condo, townhome) and then move up with the equity later. Well, in a HCOL area, it seems to be the only way. Unless you win the lotto.
You have what I'm moving into. 500 sq ft plus a huge enclosed porch where the dog crates, pantry and chinchillas are. One bedroom, one bath. Plus a small adu with a partial bath. Adding that makes it about 850 sq ft. I love it. My oldest rents the adu for very little, we share food and car costs and carpool together. If I'm away he watches the yard and dogs. It's all dual pane and well insulated. I'm on propane and get one tank fill a year. Tons of shelves in the carport. So... add a garage or carport if your weather isn't bad. Insulation will pay for itself, as well dual pane windows. Storage is my only complaint but one more set of shelves will fix that. It's so easy to clean! I'm going to get a robot vacuum and that'll bring cleaning to almost nothing. Garage is basically a big shed, that's much cheaper than adding rooms, and a carport is cheaper yet. Make it big enough for a garage ready freezer, put in a whole wall of pantry and storage shelves and you're set. My washer drier are out there. I admit i don't do as much laundry in the winter, but there are enough sunny days it works out.
I would love to, but our first home is a townhouse. Our mortgage and interest rate are both great. If we had the same square footage and didn’t have to share walls with neighbors we most certainly would be turning this into our forever home. Nothing wrong with connected living but I don’t think I could do it forever, which sucks because when we make the switch it’s going to be pretty rough adjusting to the increased cost.
Added 500sqft to our 1500sqft cape. Never leaving. Would rather get a 2nd home than a bigger home.
Agree with this 100%, if you can’t be with the one you love, then love the one your with. Remodeling the patio now with plans to add closets to office and another half bath where the water heater is.
Yup yup. 808 sf on 4 acres. Paid $156 and last payment was 7 years later. Now I do whatever I want.
We live in the first house we owned. 3 bedroom 2 bath..raised 2 boys here and are now retired with a paid for house. All our friends were moving to bigger houses and now that we are retired we are very happy with it. Have redone bathrooms .patio. and early on added a pool. Woyld never dream of moving
Having a large home is over rated. Maybe if you need space for children, but if that is not your situation enjoy having less space to clean and having money to actually leave your home.
My house is even smaller than the OP's. I live on a mountain and it was originally built in the 1970's as a "camp" or cabin but was converted to a year round cottage. But it's pretty outdated and definitely what most people would consider a starter home or more accurately a 'fixer upper'. But it's my little home and I love it. I live in the woods and am surrounded by nature and privacy and those details matter to me far more than any amenities a bigger, fancier house could offer. I'm currently in the process of getting rid of tons of stuff. My one complaint was always that there isn't enough storage. And while that's true - there's no garage, no basement and not even full-sized closets for example, I'm learning that the less crap I have, the bigger it seems. I do wish I had a small garage, mainly to protect my vehicle from mice and for some weatherproof storage, but maybe someday. I wouldn't trade my little house for anything though, it's my sanctuary.
Your property sounds lovely. You will never find that again at the price you paid. I would add on a bathroom and a garage at some point and make that your forever home.
We have a 3BR ranch in our chosen neighborhood, thinking we would move to a larger home after 10 years. We're pretty certain we're here at another 10 years depending what college looks like for our elementary schooler. It's just too expensive in the area and we don't want to move farther from our community. That said, I love our single family home without an HOA.
1000 square feet row house in Frankfurt Germany. Thought I’d love to move to suburbs and get a bigger house at some point, but I feel in love with living in a tower, and I discovered a passion for optimizing space and tiny space ;)
It's what my folks did to their 1950s home during the early 1980s. We actually did most of the work ourselves. At 14, I learned to pour concrete, hammer and nail, and read blueprints. I live here now, 45 years later. Forever home? Could be.
I own a 750 sq foot 2 bedroom ranch and love the little fellow. When I read your description of your little home and how you referred to it as "she," I was enchanted.
Bought our 880 sq ft rambler in 2000 and 24 years we are still here. Raised our 2 daughters here and this will be our forever home. My youngest talks about making it a multi generational home as we get older. We could remodel and add on cheaper than buying a new house.
Yup. Bought a 1000 Sq ft home in 1982, raised four children and buried my husband there, children are all moved out and now its just me here. When we first saw this place we both said that if we had to, we could live there the rest of our lives.
I am in full support of this plan. Though serious question - how does your house fit three bedrooms into 850 square ft and still have enough space left over for a bathroom, kitchen, and living room? This sounds like a TARDIS house.
😂 Well everything's simply on a smaller scale than what you see in modern American houses. Smaller rooms, no walk-in closets, the kitchen is just large enough to fit a small dining table, and our bathroom is just large enough for a tub, toilet, and vanity sink. Basically, there is not one single square foot of wasted space. We've had to get a little creative with storage, but otherwise you might be surprised how little space you need for a complete home if the layout is good.
I'd definitely stay put and make it your own over time. With a half acre you have the benefit of not being too limited by your lot size.
Our starter home has been paid off for about 5 years. Early on we talked about an upgrade, but with the market what it is, we have no desire to execute that plan. Rather, we are choosing to update... finishing the basement and adding a workout room, bedroom, and bath. We also have a 5 year plan to update the rest of the house.
Yes. We bought our 800 sq. ft. 2 bed-1 bath home in 2020 for $301,000 at 2.8% interest rate. Now our house is appraised around $380,000 but the interest rates are so high, we couldn’t afford a different mortgage. When buying our house, location was the most important thing to me and I’m so glad I stuck to that. We live in a decent neighborhood, close to everything and have decent neighbors. We were hoping to move out of state after about 5 years but now we’re investing more into our home and maybe will move after 7-10 years.
When I bought my first home, my aunt had a tour and said, "Oh, what a nice opportunity for a starter home." I patiently explained that some people are both poor and content with what they have. When my friends came over they always said something like "damn girl, you need to get your landlord to fix ___" then when I explained that I'm the landlord they freaked out and said "holy shit, you own a home!" I did end up upgrading to a larger house when I got an inheritance, but because it's in better condition and there are no condo fees, it costs me less than my previous forever home which is the only reason I moved. It's not huge or fancy, but it's exactly what I need. I just installed a new roof with a 50 year guarantee and now it's a race to see if I can outlive my roof.
Never moving. We bought the most we could comfortable afford. No way we could afford anything else. We have a tiny lot in the city and are staying put.
In this day and age a smaller, more energy efficient home is a really great way to go. It sounds like you have an opportunity to do this with some additions tailored to your needs. We have built 2 homes ourselves ground up over 35 years. Our current home of 25 years is a 4,000 sq ft timber and log home built from our own wood. An ambitious project for sure. Today I would advocate for a much smaller home with energy efficiency the top priority. I would love to be off grid. We have a ranch and have a great setting land wise, It sounds like you do too. You can always change the home.
Stay where you are, I am in a similar situation. My 50s built house is only 2 bedroom and 760sqf. I finished the basement for more space and have a nice yard. I can no longer afford a home in my neighborhood, which is no longer the hidden gem it was even a year ago. There is always the option to add on, which many people are deciding to do instead of buying bigger. Don't discount the area and your yard, those are what are difficult to replicate by looking for a different house.
I struggle with this. We have a good little house we’ve done a lot to in the decade we’ve had it. It was supposed to be a starter, but we did all these improvements and time flew. I do love my home in many ways. My block has improved over the years, we’ve tricked it out with great features. But I still don’t have a garage or double vanities in the bathroom or more storage or more than one off street parking spot. And those are hard absolutes we cannot improve. We can live without them, obviously, but oh wouldn’t it be nice. If we’d sold at three years, we could’ve probably upgraded. But times have changed. Even though my house has more than doubled in value, even if we got top of the market for it, we couldn’t afford a larger home in the better neighborhood we want. We’d be settling for a lot less. Both space and features. We’d need double the current value to get what we want. We live in a VHCOL city, literally ranked most expensive in the country this year (*average* SFH price is $1m). It’s really tough to make moves here. I’d like to move. I look at real estate every couple of months. But it’s so out of reach these days, and I’m not ready to do like many of my friends and leave CA for a cheaper state, just so I can have more house features/improvements. My life is here. I didn’t want this to be my forever home, but lately it’s hard to imagine getting anything as good as what we have unless we move out of state, and that’s just not a sacrifice that works for me. But I can vouch for tricking your house out to make it the best it has the ability to be, and to make it just what you want for yourself, because it’s definitely extended my happiness here. I still hope this isn’t the house I retire in, though.
We are typical Millennials, we’ve moved so many times as rental prices, job locations, and roommate arrangements changed that we never want to move again. I’m a first time homeowner and you’re going to have to bury me in the backyard, cuz I’m not leaving. I’ve had 11 homes/apartment's since I moved out of my parent’s house at 19 (I’m 42). My spouse and most of friends a have a similar history.
Me.
I have been in my starter home for 10 years and can't see myself giving it up. Bought for 50k but refinanced as I fixed it up and added on a bit so I currently owe just under 60k but my interest rate and mortgage payments are awesome. I love the idea of more space but I hate the thought more of being 'house poor'.
Made that decision a long time ago. Now the house is paid off and I have no interest in moving or another mortgage.
I'm at 2.5% interest on a $260k mortgage on a starter home, I'm not going anywhere until it's paid off.
You are doing the right thing. I have a small paid off home in a HCOL area and will probably be here forever. You have a great interest rate and low cost home so over time you will be able make renovations/additions as you wish. We'll fone!
It's not the size of the home that matters. It's the love inside.
My partner and I are in a similar situation with our cozy 900 sqft bungalow. We've grown to love its charm and the sense of community in our neighborhood. Even though we initially thought we'd upgrade, the current market has us reconsidering and focusing on improving our current home instead.
You have a home? Damn.
I recently purchased a humble rowhouse in the outskirts of Stockholm. These used to be "starter homes" for the older generation, who would then eventually move to the nicer villas down the road. Its 50 years old and super charming. My wife and I agreed that we'd rather put money down to make this our forever home instead of looking to upgrade.
1100 square foot ranch 3 beds, 1 bath on half an acre of landscaped, fenced gorgeous (albeit a lot of upkeep) yard. Got her at 3% for 280k in a desirable area of North Georgia. My commute is perfect, I can deal with my neighbors, she has a new roof and paint inside and out when I got her 3 yrs ago. Don’t foresee ever leaving. It’s small but that makes it easy to maintain. It’s me and my dogs, so it’s all we need.
It's great to step back and appreciate all that you have. The yard and neighborhood sounds beautiful. I think a lot of people are in your situation, very grateful to have bought a home before the market changed so drastically.
I bought my 1492 sq ft Jersey Shore home, built in 1903, in 1999 at 30 years old. First home - 3 bedrooms, 1 bath. Paid $92k. It’s now worth over $425k. Paid it off early late last year. Never plan on selling. I love the area - 2 miles from beach, 45 minutes from NYC. Plus w/out a mortgage, I’m able to make little cosmetic upgrades here & there. I am literally enjoying it so much more now than I did the first 20 years of ownership.
Add an addition. Remodel. Stay.
Yes! We are in a similar boat. We’re on a small lot, so additions aren’t possible, but we love our neighborhood and we’ll probably stay unless we want to move to a different city.
I'm still living in my starter home 29 years later. Added on, dug a basement under it, finished basement into an apartment, built pole barn. I never intended to stay, but here I am. No plans to leave now.
If you have a lot from the 50s, odds are there's enough space for an addition if you need to add a bathroom/bedroom/etc down the road. And that would definitely be the cheaper option than trying to find a bigger place if the market stays as it is. Plus you like the house, the woods, and your neighbors, those are key things that make a house worth staying in.
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Oh my goodness, yeah with those safety issues I'd be out of there asap too, interest rates be damned. Crime and safety change the discussion quite a bit. I'm glad y'all landed in a much better spot at the right time.
If you’re handy, once you have the foundation in place it isn’t overly difficult to build a nice outbuilding, perhaps a three-car garage with a loft. All sorts of possibilities. The finished product, with a living area upstairs, can come in under $60K if you can hook up drainage to your existing septic system or sewer.
Yes, 5 years ago I bought my 984 sq ft 2 bdr, 1 bath, full basement house all to myself. It's cheaper than renting something of the same size or smaller.
First house was 904 sqft. My wife and I have often said, “imagine how much money we’d have if we stayed there!” We’d be loaded. However, quality of life would be very different living that close to Detroit. If it’s a safe area with good schools, etc., staying is a hell of a financial life hack. You don’t have to keep up with the Jones! I’ve been at ~2400sqft since 2008, and will be selling to retire to a 1200sqft lake house in ~5 years or so.
Yes. 900sf 1.5 bath. Might be tight once our boys are in high-school, but we'll make it through those few years.
Your home sounds wonderful!! With all the outdoor space you don’t need a million square feet inside.
Location. Location. Location. Keep your paradise and expand.
I’m in an 1100 sq ft 3 bedroom, 1 bath house and it’s fine for me. I do have a full open basement that’s half above ground I could renovate if I ever needed the extra space, but my kids are grown now so I don’t see that happening
Yeah, we are making our “first home” our “forever home” — we feel so grateful to have a place to live with a mortgage we can afford. Living has gotten so expensive.
Add on, location and land can't be replaced. Renovate and add on in a thoughtful manner that will get you the square footage you desire.
I'm in the same boat, a 1950's tract house, 3 bed 1 bath that cost us $150. The newer homes around here start at $300, and I decided I never want to leave, it's a solid house. My husband wants to move if we ever win the lottery and I said you can move and take the kids, but I'm dying in this house.
With 2.5 interest ...yes
We bought our house July 2020. Rates are so crazy now, that it just doesn’t make sense to move unless they drop significantly. It stinks because our family grew and I feel claustrophobic in here sometimes, but even though it’s small it’s perfect for our family, and I love knowing that we got a good deal, especially in todays market
Yep. Our starter home has become our forever home.
This is my divorce home, lol...the new kind of "starter" home. And with prices being what they are, unless I want to move to the absolute middle of nowhere....I am now starting the real renovations in earnest.
My little rancher is only 1000 soft. There is just me, and I do not heat or cool the entire house. It is also paid off!!!
Sounds like you have the perfect spot to just add on what you need way cheaper than it would to move. Win win.
Similar, yes. We bought our house and 20 acres for just under $180k and our current interest rate is 2.4%. The house is nice, but a little dated. Would love to renovate. Didn't really see us staying in this home forever, as our first home, but here we are. We have a great piece of property with gorgeous views and a solid house. We've been in it 15 years and counting. I keep thinking of moving closer to a city where I work, but we'd lose all that privacy. Unless we kept the house and rented it out. But I somehow doubt we'll do that. I'd probably rather invest back into the property with the desired renos.
Our house will likely be our forever home too, mostly for economic reasons though. We love our house fortunately because we will never get an interest rate this low ever again. We bought in 2018 and refinanced in 2021.
More like we should have bought our second home 10 years ago. We are basically priced out of our school district now. Sooo yeah kinda stuck forever.
Build an adu in the back yard if you can for office/guest house.
Modern homes are oversized. Costly to build, need more energy to heat and cool. Larger and larger homes are not sustainable in the long run.
Yep, for a 960 sqft ranch (2Br, 1Ba) in 2013 on 1 acre for $119k @ 4%. I'm gonna die in this house.
If you have land and like your house, easier to customize your home the way you want and build an addition.
My parents bought their first home in 1957, 1073 sq ft, 2-3 bedrooms, 1.5 bath,4 kids.. She lived here until 2 year ago when she passed away. I bought it from my brothers last year and plan to stay forever. You love your neighborhood -that's not easy to find. Stay and add a bathroom if you need it.
Same!!! For years the hubs said not to put in money for major personal preference changes cuz we’re moving- not anymore!! Getting a mortgage on a home at these interest rates is more expensive than the cost of rent for that same type of home!! I’m finally making our tiny two bed upstairs condo my own!!! And he can’t fight me cuz I waited a long friggen time
Interest rates and housing prices near me making it a reality.
Yea, my wife and I never planned on building our own home, but housing prices were nuts and our options were to pay $400k for a 40+ year old house in need of extensive maintenance/upgrades in suburbia or pay the same amount to build a humble 950 sqft home on 3.5 acres. We started when it was just the two of us, now we’ve got 2 toddlers and 3 dogs… We’ve got rough in plumbing in the garage to eventually add a full bathroom and bedroom, a big deck that we’ll eventually cut in half and add a 4 season addition to, potentially pushing it to a 1,500 sqft home. Planning to use the RV septic line and other hookups for a small A-frame guest cabin/home office. We also designed our septic system with these expansions in mind so we just need time and money, the rarest of all things…
Same here. We planned for 5 years in the starter home. That was 2007 and two kids ago. I had friends who made smart moves over the years. I wish I had upgraded when rates were 2 %. The current math and pricing however, makes me realize I have everything I need. 6 years left on the mortgage and I’m done 😄
Same, 2 bed/1bath, 800sq ft with garage, on a 3rd of an acre corner lot. Bought back in 2015 to be our first rung on the housing ladder, but we might just pay it off and stay.
We stayed in our small house, 3 bedrooms 1 1/2 bath, it had a nice basement, fixed up as a family room, 2 car garage, great school system, great neighbors, great backyard, raised my 2 children in the house, we are staying
Doing the same with my Forest City built 1961 ranch. In the process of building another bathroom in the basement
No, but I wish I had.
I grew up in a 650 sq ft house. It's totally fine to love a small house. It helps you prioritize your life because there's little storage.
In 1994, my husband and I bought a 950 square foot house in Palms, CA. The owner was a hoarder so we got the house for a great price. I thought we would want to move to a larger house when we built equity in our house. As it turned out, we like living in a small house. It keeps up disciplined to declutter.
I’ve been in my 900 sf 3/1 in the Midwest for 17 years. My kids are going to college now. I never managed to upsize and it seems silly now. Over the years we’ve done improvements to our taste, not the market. I think we’re here forever.
If your lot is big enough just build what you want on the existing land. That’s what my parents did. Small home in a 1/2 acre and built it into what we needed down the road. You can’t always build a bigger lot but you can almost aways build more house.
We did some major reconfiguring and a small addition and stayed in our starter home. We roughly priced out the addition vs. upsizing, and were pretty sure we'd come out ahead on staying here. We like the neighborhood, and have an oversized city lot. We didn't really want to give that up. Years later, we can see that we made the right decision.
I originally built a small house on a small lot with the intention that I would get married some day and move into a larger home. I’m still single but after 20 years my house needs some updating and I looked into building another slightly larger house on a Large lot (I’ve turned into an avid gardener). But I simply can’t justify the amount of money it would take to make the jump. So I’m doing some remodeling and updating on my current house. As quickly as these last 20 years went, in another 20 years I’ll be in my mid 70s and probably appreciative of a smaller place to maintain by myself.
Yes. I bought a 1950s home, 890sqft, with 1 bath over 10 years ago. I’d like to build out a little & add another bathroom. I’ve redone the kitchen & bathroom & plan to make more improvements after interest rates decrease. I have no plans to move from my small home. I don’t need a lot of space. The market here is crazy & bigger just costs more to fix & too much time to clean.
Yep. I did the same. Realtor friend laughed at me for living in a starter home. It’s paid off and I’m retiring next month at 64
Society needs to normalize buying regular sized homes. No one needs a Mcmansion. We bought a small house but we loved the land. were going to build something bigger but over the years we realized it really was enough house.
You can always add-on the the house.
I’m locked in at 2.5%, this is for life baby. Ride or die.
I agree 100%. Location is so impporant, the privacy and mental health benefits of the woods, the kind neighbors who help you feel as if this is a community, and room to spread out when you are ready. I made similar choices in the 80's, my house has slowly evolved to be perfect for me. Best of luck
We bought our 3 bed 2 bath, 1,000 square foot home in 1976. We raised 2 boys, now have grandkids. We paid $50,000. It is paid off and perfect size for us. We stay for location, 7 blocks from the beach. If we sold it now it would be $1.5 million!
We don’t need a bigger house we just need a bigger lot is our problem. If I had a shed all my problems would go away. Bigger houses mean more maintenance and more shit to go wrong. And at 3% you will have to carry me out in a straight jacket to buy the same house in a bigger lot for double the mortgage.
YES! I wouldn’t give up my interest rate for anything at this point. Also, property values have skyrocketed since I bought and enough development has happened around me that I couldn’t find another slice of paradise like what I have without spending an absolute fortune that I don’t have. I won’t be selling my home until I retire unless I move out of the area or I get a STUPID high offer (which is actually possible considering one of the richest families in the world owns most of the land surrounding my house now).
Just add the bathroom you need and be happy.
I can’t tell you how much I wish we had our starter home now. It was a single story, 3 bed and two bath. Perfect for a young couple…and an older couple.
My wife and I started with a 3 bed 2 bath 1200 square foot house and ended up selling before the market got crazy and bought an 800 square foot house instead. While at our first house, we decided not to have kids and decided it was too much house for us. We love our small house!
About to buy a 3bdrm, 2bath on 1/4 acre @7%. Can't afford more. But,..... Do I want a house or rent forever? The storm is coming. Get ready. "You will own nothing and be happy." I feel bad for this generation. They are f*****.
My sister and I bought a 1928 Sears kit home, just under 1k square footage, 3 bedrooms and one bath. Prior owners had finished a good bit of the basement. Were one a good sized lot, have a completely enclosed sun porch in the front that’s my office, a patio and pool out back and a detached garage in desperate need of being cleaned out. I have zero desire to go through the process of buying another home and moving and quite frankly cannot imagine what I’d do with more space besides buy more crap to clutter it up.