REAL ESTATE: FINDING A GOOD FIT

Bigger and Better Homes

Downsizing might be all the rage now, but some life circumstances still require living larger. Whether your family is getting ready to expand, you are welcoming other members under your roof or you are just looking to have a little more breathing room, upsizing might be in your near future.

Remember that purchasing a larger home is a sizable investment — quite literally — and one that should not be taken without considering the following factors.

 

Crunch the Numbers

Knowing what you can afford is an obvious first step in any home search, but it also is important to consider what you might need to give up in order to acquire more square footage.

Are you willing to leave your current neighborhood or school district? Are you okay with purchasing a home with a few projects, rather than something move-in ready?

Asking yourself these questions will help you keep your financial priorities front and center in your search.

 

More Space vs. More House

Do you really need a bigger house or do you need a better utilization of space? Perhaps the number of square feet you currently live in would be fine if it were organized in a different way or had a more open layout design.

Assess what you dislike about your current home. Do you need extra bedrooms or just more closet space? Or perhaps your home’s size is working for you but the outside space is not.

 

Think Resale

While you might need a bigger home, you can’t ignore the trends suggesting that people are feeling happier living in less square footage.

Be sure to purchase only the space you need and will use. This also makes features such as location, neighborhood, school district and walkability all the more important in your new (and bigger) home search.

Even if a home seems perfect, it is likely that your life circumstances will change and you will downsize again in your life. It’s always best to purchase your home through future buyers’ eyes as well as your own.

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