Should you upsize your home?

 

Should you upsize your home? A question almost all homeowners have at some point. When it comes to housing, each stage of life brings a variety of needs and some wants too. Todays homebuyers looking to upsize are no longer just the young family needing more room. A surprising trend, is among those who would normally be looking to downsize are in fact upsizing. Upsizing your home has many benefits in whatever stage of life you are in. Here are some benefits and tips on upsizing and finding the perfect home.

The benefits

Consider these benefits to owning a larger home for a growing family or creating space for multi-generational living.

  1. More space to spread out, creating more opportunities to entertain and host family gatherings.
  2. The additional square footage might allow you to start that business or hobby you have always dreamed of.
  3. The ease at which to care for and spend more time with an aging parent.
  4. Multiple generations could share living expenses which would benefit everyone.
  5. Sometimes, it’s just a matter of being able to finally afford the home you have  always wanted.

The downside

There are some things to consider before making that final leap of buying a bigger home.

  1. Owning a larger home comes with larger bills such as higher utility bills, a larger mortgage and tax payments.
  2. A larger home may require more maintenance and more furniture to fill the space.

 

Finding the perfect upsized home

  1. Find a home that not only meets your immediate needs but also future needs.  For some that might be a master on the main floor or a mother in law apartment that can also be used as rental income. To make room for a growing family a 4 bedroom might be a better choice than a 3 bedroom.
  2. Consider location. Do you desire  a home close to parks or trails for an active lifestyle? A home near a golf course? Or, do you prefer a home close to shops and dining.  Whatever your lifestyle, finding a home close to things you like to do is always a plus.
  3. Consider the long term maintenance required on the home. Is the home a project or is it move in ready? What do you have the time and resources for? These things could be the deciding factor.
  4. Pick a real estate agent who gets you. Someone who listens and takes the time to understand your needs and wants.  An experienced real estate agent can counsel you on the right time to sell your home, and if you should sell before you buy. They will help you navigate the process smoothly and efficiently.

 

Should you upsize your home? The move to a bigger home can be scary and exciting at the same time. The possibilities are endless in creating a living space that is larger than your current one. Once you are aware of the pros and cons you can move forward knowing that your decision is a good one. To get started on your search, checkout our current office listings http://windermeremillcreek.com/listings/office-s-listing

 

 

Written by Rondie Martin

Reator® ABR® e-PRO SRES®

Windermere Senior Transition Specialist

 

 

Posted on June 15, 2020 at 7:23 pm
Rondie Martin | Category: Home Buying, real estate, selling, Uncategorized, upsizing | Tagged , , , , ,

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