Reason #9 that The Street gave for us not being rich is that our houses are too big. It seems like it would have a simple explanation, big houses cost more, but there is more to it than that.
REASON #1: Big houses cost more to build or buy.
REASON #2: Big houses have higher utility bills. There is more space to heat and cool, more lights that could be running (sometimes without you even knowing if they are on at the other side of the house), there are more windows and doors that need to be well insulated.
REASON #3: Big houses need more stuff to fill them up. This one is often overlooked. Most of us naturally fill up our house. If we are in a bigger house than we need more stuff to make it feel “homey”. Who wants an empty house!? I have moved 6 times during my marriage and each time we are surprised at the amount of stuff we have. I have heard the tip that you should completely empty a room and then completely set it up again. Whatever isn’t worth the time should be donated or thrown out. I haven’t done that yet – but I imagine it would work well.
REASON #4: There is more “repair” area in a big house. The more space you are working with, the more updating and repairs you will have to do. If you have to replace the carpet, it will cost more. If you need to paint you will need more. There is more attic space that will need insulation, more windows if you update them.
Figure out exactly how much you need and then consider going a little smaller! What’s the point of keeping up with the Joneses when you have the chance to break free from the rat race entirely!
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The final thing you need to know to be rich is to Take Advantage of Every Opportunity!