In addition to the environmentally friendly reasons to buy a tiny house, here’s a completely different, but totally valid, one:
“Let me be clear: Despite strong economic fundamentals, the housing decline is still unfolding, and I view it as the most significant current risk to our economy,” Mr. Paulson said in a speech at a Georgetown University law forum. “The longer housing prices remain stagnant or fall, the greater the penalty to our future economic growth.”
Mr. Paulson said that “a first and important step” is to identify struggling borrowers early, steer them to mortgage counselors “and find a sustainable mortgage solution.”
“We have an immediate need to see more loan modifications and refinancing and other flexibility,” Mr. Paulson said. “For many families, this will be the only viable solution.”
We downsized when we bought this house, despite being a young couple who will most likely have at least one child while living here. While most of our friends are movin’ on up into bigger homes and mortgages, we found a small home that fits our needs and has a mortgage payment equivalent to or less than rent in this community. Granted, it’s required sweat equity and dollars on our part to do renovations, but those are wants, not needs. As I explained it to one friend who was recently looking for a home, we bought a house that we could afford on one income (should that be required) with a fixed payment for as long as we’re here. Yes, we end up putting as much money into each month as some of our friends with nicer homes do with their mortgages, but we don’t have to do that. Basically, if things get tight, we just scale back on the renovations.
I’ve always been a worry-wart, so this is by far the best solution for me. We also get the bonus of the satisfaction that comes in taking something ugly and making it shine. I do wish for more space sometimes, especially with only two closets in the entire house, but we make do very comfortably. And, I realize that in a lot of places, a small house doesn’t always equate to a small mortgage like it does here. In the end, I’m sure glad that when we were looking earlier this year that we went this route and didn’t get lured into something we couldn’t afford.
Speaking of renovations, I’m thinking of this for our kitchen floor:
We plan on redoing the kitchen at the beginning of the year. We already have the cabinets in storage. We don’t need new appliances, so it’s just flooring and hardware left to decide on. I have always like the look of old school linoleum (or marmoleum) and after doing some research, really like the environmental friendliness of it, the softness yet durability of the tiles and the inexpensive price tag. Home Depot carries Armstrong’s line and I think we may do a cream and sage green combo. I’m a black and white girl at heart and am loving the first picture, but I think it will be too harsh for our little cottage. We’ll see!
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