5 Reasons Why You Should Consider Investing in a Small(er) Home

Marci • March 20, 2019

The larger home is not always the better home. Yes, there still exists a large group of individuals who enjoy owning a grand estate, complete with all the modern conveniences, in addition to everything you could ever want; and of course, there’s nothing inherently wrong with this. But for an increasing segment of society, downsizing is the new “in”; the new “chique” if you will. These folks have talked the talk and walked the walk; and at some point they decided it was time for a change.

These homestead rebels are bucking the trend while showing the rest of us the “pros” of living a simplified life, house included. The following are 5 reasons why downsizing might just actually be upsizing:

Less Pressure on the Pocketbook

Not surprisingly: The purchase price of a small house is less than that of a large house (within a similar area, of course). Now, I know that this fact isn’t news to anyone, but it still bears repeating. Why you ask? Because a large portion of society seems to be constantly on the edge of financial trouble; constantly working to fend off the bank and pay all the bills on time. This lifestyle is not only stressful, it’s exhausting.

The solution? If possible, scale down.

Additionally, a small house is less expensive when it comes to the cost of living. Think about it: to heat a 2000 square foot home requires a certain amount of dollars. Additionally, the larger rooms will demand more of your hard earned money when it comes time to upgrade. Need new windows? New doors? New kitchen cabinets? All of these things will cost you more (based on volume alone) than a house which is even marginally smaller.

Less Maintenance

In car sales, the base model is always the economically prudent choice. Of course, the luxury model contains a host of upgrades. But, these upgrades inevitably break and require fixing, while the base model continues on, uninhibited by such things. The base model is solid. When it comes to pure performance, it does everything that the luxury model can do, and it’s very much the more affordable option. So, which model do you choose? If you’re like a growing number of Canadians, those who want to see their dollar go further, you choose the base model.

Similarly, a small home may not have all the “bells and whistles” of a large home, but the baseline performance should be there, along with fewer maintenance costs, fewer breakdowns, and fewer headaches.

Smaller (Environmental) Footprint

The simple fact remains: smaller homes are more environmentally friendly than larger homes. This makes practical sense on every level. When we learn to live with less, we end up using less, we end up wasting less, and we end up polluting less. Additionally, if there are less square footage to heat, then we use less power. If there are fewer rooms to illuminate, we use fewer bulbs, and if there are fewer washroom tubs to fill and toilets to flush, we use less water.

All of this leads to a smaller environmental footprint, which is a pretty big deal.

Encourages Minimalism

Small(er) living spaces force us to think about that which is important to us. Do we need all of this stuff? Can we do without the clutter? I think we absolutely can, but only when we’re faced with these types of situations are we confronted with these (potentially) freeing thoughts. The reality of a small living space encourages a healthy sort of purge; the sort of purge where, at it’s peak, you realize that you own your things; that your things don’t own you.

Easier to Sell (Price Point)

Finally, the truth remains, a well maintained affordable house is a desirable house. Plain and simple. 

Questions about home ownership? Wondering about the process of applying for a mortgage? Need direction?  Contact me, and let me walk you through your options. You won’t be disappointed.

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Deposit vs. Down Payment: Key Differences for Homebuyers

By Marci Deane • July 29, 2026
When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.

RRSP Home Buyers’ Plan Explained: A Smart Way to Buy Your First Home

By Marci Deane • July 22, 2026
Saving for a down payment is one of the biggest challenges first-time buyers face. What many don’t realize is that the Canadian government offers a program designed to make it easier—the Home Buyers’ Plan (HBP) . This program allows you to withdraw money from your RRSP to help purchase your first home, without immediate tax consequences. Here’s how it works: Who Qualifies? To be eligible, you generally need to be a first-time home buyer. In practical terms, this means you must not have owned a home in the past four years, nor lived in a property owned by your spouse or partner during that time. There are also special allowances if you’re living with a disability or helping a relative with a disability. In these cases, you can use the HBP even if you’ve owned a home more recently. How Much Can You Withdraw? Under the program, you can access up to $35,000 from your RRSP as an individual. Couples can combine their withdrawals for a total of $70,000 . These funds must have been in your RRSP for at least 90 days before you take them out. Paying It Back The HBP isn’t “free money”—it’s an interest-free loan from your own retirement savings. You’ll have 15 years to repay the full amount back into your RRSP, starting in the second year after withdrawal. Each year, the CRA will send you an HBP Statement of Account outlining how much needs to be repaid. If you don’t make your repayment in a given year, that amount will be added to your taxable income. Why It’s a Smart Strategy The HBP can give first-time buyers a powerful boost toward homeownership. It helps you put together a larger down payment, which can reduce your mortgage amount and monthly payments. Just remember: it’s important to balance the short-term benefit of homeownership with the long-term impact on your retirement savings. Next Steps Thinking about using the Home Buyers’ Plan? Let’s sit down and review whether it’s the right move for you. Together, we can create a strategy that gets you into your first home while keeping your future financial goals on track. 📞 Reach out anytime—it would be a pleasure to guide you through the process.

Bank of Canada Holds Rate at 2.25% — July 15, 2026

By Marci Deane • July 15, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The tone of today's announcement is notably more optimistic than previous months. Here's what's changed and what it means for you.