That’s exactly what Mr. German and I are thinking of doing. Or rather, I’m thinking of it and he’s sort of with me on it. 🙂
We’d be downsizing from our current 65 sq metre (700 sq ft) flat to a 35 sq metre (376 sq ft) flat.
If we did this, our rent would go down from 610 EUR/month, to 300 EUR or less/month. These are warm rents I’m quoting.
Already we’re living below our means. 610 EUR is affordable for us even though we’re probably paying 100-200 EUR/month more than market value for our place. In comparison, my colleagues easily spend 1400 EUR per month on renting 80 sq metre (861 sq ft) flats in a neighbouring expensive city.
But I can’t help but feel we can do better. Especially since we’re thinking of moving anyway, why not give 35 sq metres a try?
While it may seem extreme, with the right layout, it’s actually quite nice for us. We used to live in about 32 sq metres when we were students, and it was great.
We’re also trying to be more minimalistic, and having less space will help.
Plus, I get really giddy thinking of halving our rent! Not only because we will save more, but because my aim is to set up passive income streams that will cover our costs. It’s much easier to achieve this when our expenses are low, thus making early retirement all the more reachable, and sooner.
The most difficult part of living in 35 sq metres is having to ‘explain’ to family WTF we’re doing. Already my in-laws tsk at us for living in a flat that is not that nice. We actually think it’s VERY nice, but it doesn’t have up-to-date finishings like the gorgeous places Mr. German’s siblings live in. Still, our current flat is a ‘normal’ place to live that won’t raise questions. If we suddenly move to a studio, that would appear insane for a thirty-something professional couple. 😕
It can be hard to go against the grain. People don’t like it when you do things they don’t understand.
Though we shouldn’t let other people’s judgements deter us from working toward our goals. Life’s too short to be slaving away at a job just to pay for a lifestyle we’re not even interested in!