Every day while driving from my home in Zionsville to Halcomb Singler, LLP, in Carmel, Indiana, I am amazed by all the lovely, beautiful and large homes that I see during my drive. I can’t help but wonder about the families that live in the homes. How many children do they have? What do the parents do for a living? Why do they want a home so big?
Don’t get me wrong, I am glad that there are people living in these large, beautiful houses. I am sure they are mostly very happy with their purchases and their beautiful homes really makes my drive enjoyable. Nonetheless, I can’t help but wonder what you do with so much room. Also, how you pay for it. Forget the mortgage payments on these $700,000.00 homes. What about furnishing them, the heating/cooling costs and the costs of maintaining them? Also, what about cleaning them? Is there really enough time in the day to keep these homes looking great?
I also wonder if those families would be just as happy in a home half the size and whether the parents would have less stress and more time to spend with their children if they had a small space with inevitably less stuff than the current sprawling estate. I wonder how many people in those neighborhoods are spending a lot of time working to pay the mortgage payments and expenses associated with such an expensive home.
Currently, it is my observation that Americans are striving to live in larger and larger homes again. It seemed as if during the great recession that the trend of purchasing very large houses decreased. I recall seeing articles that stated the average home size in the United States was decreasing at that time. However, it seems that the smaller home trend didn’t last long at all. I must admit that it’s probably an occupational hazard as a bankruptcy attorney that I get nervous seeing people living in such large homes. Due to my profession I assist people struggling with high expenses on a daily basis and I often wonder if living in smaller homes with generally smaller “operating expenses” for those homes would have helped them avoid their financial difficulties.
My opinion is that Hoosiers would be best served to buy a bit smaller when it comes to housing. I’m not talking about the tiny houses we have all seen on television that are 100 square feet. I am talking about a house that is 2,000 square feet for 4 people instead of one that is 4,000 square feet. If we shifted to smaller homes as a society, think about the difference it might be able to make in the qualify of life for many families. Could there be more family vacations? How about retiring earlier? Would there be more opportunity for charitable giving and less time spent managing the “stuff” that accumulates in all of our homes over the years?
What do you think? Are Hoosiers overbuying? Do you live in a 5000 square foot home and think it is amazing? Tell me why. I am curious to hear the opinion of others on this issue.
**Halcomb Singler, LLP, is a debt relief agency. It helps people file for bankruptcy under the bankruptcy code. No attorney-client relationship with the firm of Halcomb Singler, LLP, is created through this blog. Also, please note that Erika Singler is an attorney licensed in Indiana and does not seek to practice law in any jurisdiction in which they are not properly authorized to do so. The information contained in this blog is general in nature and should not be relied upon for the circumstances of any individual(s) or businesses.