After hearing about yet another person moving into a BIGGER house because they
need want MORE space, I felt I had to take action.
I’m sure you hear it all the time too, your friends and relatives who already live in a average/above average/already too huge house decide to pull the trigger and UPsize. “We just don’t have enough room anymore.” “We needs extra storage space.” “We need BIGGER walk in closets!”
There is one root cause in all these people up-sizing. Know what it is? You guessed it…Frank Stallone. (Old SNL Norm MacDonald joke for those of you with that puzzled look on your face.) The actual cause of these moves is STUFF. Good old fashioned stuff. Can I be more specific? No, because that’s all this crap is, is stuff. “Wow, we have so much stuff, we don’t have any more room. We should look for a bigger place.” No, wrong! You need to 1. Get rid of your existing stuff and 2. STOP buying MORE stuff. Right now.
Remember stuff does not drive happiness or fulfillment, You may think it does. But I guarantee you it does not. If by any chance, this stuff does provide some sort of happiness boost, it is only very short term. The other thing with stuff, is that the original stuff always requires additional stuff and maintenance. That iPad you bought, did you buy a case for it? A keyboard? What about all the money you spent on apps? The time you spent playing apps, updating apps and iTunes and all that STUFF. This is a whole other topic. Back to the main issue.
So your house. What if you could make your mortgage payment just a bit smaller by downsizing? Say 10%. This probably means you are moving into a smaller house, which is easier to heat, which will in turn lower your energy bill. Since you moved into a cheaper house, you will pay less in property taxes due to lower assessment value (that’s the way it works here, anyway) and since you have a smaller house, you won’t have the room for all that stuff. What about when mortgage rates move higher? These low rates wont be around forever. These things definitely generate a nice amount of annual savings. Maybe this should be something you should think about, rather than buying more stuff, or what stuff to buy next. Savings instead of stuff. Remember that phrase.