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We owned a 1br/1ba 750 sq. ft. home and made it work until LO was mobile. I definitely think you can do it if you want, but the two things we had issues with once LO was out of the newborn stage were sleep and baby proofing. Our LO was a terrible sleeper, and once she could sit up and see us, she wouldn't put herself to sleep during midnight wakings. Also, once she was mobile, it was hard to give her adequate play space because it was hard to baby proof everything. In that small of a space, every square foot is strategically used for storage or function. I had a hard time figuring out how to keep things out of her reach or give her room to roam/explore. I loved our location and our home, but the questions I would suggest considering are: 1) Would there be a way to have a separate sleep space for a potential LO? 2) Would there be safe/adequate play area for an LO (so would there be storage for everything you need out of reach)?
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Could you build vertically?
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Wow I can't believe how many great, thoughtful comments you ladies have left!
I still need to talk to DH, but I think I will show him this thread.
We would buy with the assumption we would rent, not resell. The rental market for downtown is very strong, and the monthly even with property taxes and insurance is very close to what we could recoup. With a rental the tax deductions for any maintenance etc, would likley be a huge plus.
The space is really well laid out, so I really question whether even at its small sq footage whether it really would be better to add a hundred square feet if it wasn't so well laid out.
There are two fairly decent sized closets, and room in the master for a "wall closet," e.g. built in space along one wall where we could put additional clothes-hanging and dresser space.
The seperate laundry room seems like such a luxury and has room that if we did a stackable washer dryer we could build a small closet or add shelving.
I actually wonder if the sq footage does not include the back porch since it doesn't seem as small as 800 sq feet. It has been really cold here so if we decide to move forward I want to go see how much cooler the back is, but I know the last tenants used it as a child's bedroom so I think it must be warm enough, but we would have to check that.
The second bedroom is too narrow for anything but a twin bed, so DH and I could not give the master over to kids unless we put a bed in the dining alcove (would have to measure but might just fit).
I don't know if we could build vertically--the city has set back restrctions that they typically only waive if you apply for a variance and to have the best chance of approval you typically want to add parking (which I don't think there is room for even with a curb cut and front lawn usage). Also, the home is older and likley would need a reinforced foundation/walls, and adding up as opposed to out can cost three times as much.
We could likely add a small entry way which would add storage and a bit of extra space.
Lots to think about. With interest rates going up I could easily see a situation where there is downward pressure on prices, but that with the higher interest rate our monthly expense would remain the same as a lower price/higher rate scenerio. While this would hurt our resale chances, it would mean our rental prospects would remain unchanged.
I think the biggest reason to say no at this point is the fact that we would have to part with a sizeable chunk of change for our down payment and closing costs, and would reduce our savings cushion to 10k. Any other thoughts?
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The real estate listing was updated to list a 2 bedroom 1 bath. It is a very small and rectangular second bedroom, but LO could have a seperate bedroom, and there is a small front and back fenced yard.
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I vote no. I think you will outgrow the space sooner than you think, especially with a kid. We live in a 800 sq one bedroom and we are looking for bigger house. It was manageable in the beginning but now that DD is more mobile we are desperate for more space!
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@rattles: that is exactly my situation now! Haha!
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I didn't vote because its really a personal decision. We bought our first house which was just under 700 sq ft and loved it. It was 2 br and no dining room and without much yard. It did have a large unfinished basement for laundry and storage and that was probably the only reason it did work. I'll be honest that it was tough once DS was born. With a place so small we had to be really quiet when he was sleeping. Couldn't do the dishes or flush the toilet, etc because his room was right off the kitchen and bathroom. Company after 7pm became unheard of and having overnight guests was really tough. We were definitely able to make it work though and would have stayed there longer if I hadn't gotten pregnant again. No way it would work with 2 kids. I think if you're willing to deal with the drawbacks it can be worthwhile. Our mortgage and utilities were so affordable and we were able to save quite a bit of money so I could stay home with DS. That alone made it worth it for me. I will never regret buying our first small house!
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@lokki: Well if you technically do have a second bedroom, that is a plus. Also, if they updated the listing, maybe that means they haven't gotten many offers, and you might be able to get a good deal. Ultimately, you have to go with your gut, but it could be a good experience!
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@lokki: Sounds like you have really thought about a lot!
I would think about your necessities list. Things like a vacuum cleaner, broom, mop, where would those be stored. If you have christmas decorations, could you store and put those up? What if you wanted to have friends over for dinner? Is there enough counter space for a coffee maker or is there storage for one in a cabinet.
I agree that I would rather have 700 well laid out sq feet then get 800 bad layout
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I think buying in a neighborhood you like is important. Hubby and I were ready for house number two and we picked to buy something smaller in a better neighborhood, but it's still bigger than our first home.
I am super pro-buying a house. If you want to stay in the area where you live, buying is definitely they way to go.
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