When it comes to home buying, smaller is better
Article by Robert Brown, Globe and Mail, September 16, 2014
"When you buy a house, you’re going to be facing a lot of expenses, most of which you haven’t faced before, above and beyond your new mortgage payments. Heating, electricity, insurance, and property taxes are just some of the additional bills that come with owning a house. All other factors being equal, the bigger the house, the bigger those expenses will be.
Regardless of how your house is heated, it would seem reasonable to assume that it would cost twice as much to heat (or air condition) a 3,200 square foot home than it would one that is 1,600 square feet. But, as reasonable as this seems, it’s incorrect; it actually costs more than twice as much. Yes, the larger home has double the space to keep warm or cool, but it also has more doors and windows that will allow drafts in during winter and cool air out during the summer.
On top of that, the larger home will have more exterior wall surface exposed to the outside during the winter months, which will make the house harder to heat. Circumstances vary, but it can cost up to three times as much or more to heat and cool a home that is only twice as big."
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