Hi, MMMers.
I have what may be a really naive question, but having never been a homeowner before (long-time city renter), I'm unsure: might it ever makes sense to purchase a house and renovate it to a smaller square footage (such as lopping off an extra room, for example)?
My husband and I are a tiny family in search of a small house (800 square feet, give or take), but standalone houses that small don't often exist in the locations we're looking at. Our final location is still TBD (we're looking at mid- and small-sized cities all over the map), but in a few places I've seen some really nice and surprisingly affordable houses that would be great -- except most start at closer to 1200/1300 square feet (again, give or take).
We're both breadwinners and caregivers for ill parents, so taking on becoming landlords with the extra space is just more than our circumstances can handle for the next decade or so. But we don't want to waste time or energy cleaning, maintaining, furnishing, heating/cooling, and paying property taxes on space we just don't need either. We'd just love the chance to own a tiny house that's affordable and comfortable and provides a bit of garden space for the 2 of us, and are wondering if reducing a house's footprint seems reasonable.
My attempts at Googling the topic have come up empty so far.
Thanks.