Saying you will buy a house even though it is a little small is an example of albeit.
Origin of albeitMiddle English al be it, al(though) it be
Origin of albeitMiddle English al be it : al, even if; see all + be : subjunctive of ben, to be; see be + it, it; see it.
(plural albeit, rarely and debatably albethey)
- although, despite being
- He has a very good idea, albeit a strange one.
Unlike although, albeit cannot also introduce a subordinate clause. Either can introduce a noun phrase, adjectival phrase, or adverbial phrase.