At some point, practically every homeowner asks if their current property is still suitable for changing needs. It could be due to potential relocation from another state or even across the pond, a growing family, starting a new business venture, or, simply needing more living and storage space. Regardless of the reason why, it’s what to do about it that poses the most difficulty. Most will consider two solution options — remodeling and adding-on, or, buying a bigger home. After all, this is a big decision, and, one that can’t be taken lightly.
Since it takes a lot of thought and consideration, it’s worthwhile to take all factors into account. No matter the ultimate decision, you need to make the right choice because it comes with a real cost, time, and effort.
5 Reasons to Buy a Bigger Home
So, you’re caught in the remodel or buy bigger conundrum — that’s a more common scenario than you might suppose. Each includes upfront costs, and, requires a substantial lifestyle change, though the disruption will mostly be temporarily. What you should know is that regardless of your decision, both come with additional expense, and, upkeep. Whether you add-on to your current home or buy a bigger house, you’re increasing the livable square footage. This means more space to clean, and, a slight increase in utility costs.
“A study commissioned by the nonprofit urban leadership firm CEOs for Cities found that homes within walking distance of schools, malls, parks and other amenities are worth more than those in areas where you have to drive to get anywhere.” —Realty Times
However, the trade-off is typically worth it, because many small homes just don’t have what it takes, and, are absent of the many perks of a larger residence. To make a more informed decision about what to do, here are some reasons to buy a bigger home:
- You’ve outgrown your current home. This is an obvious sign that your current home is too small and you can’t ignore this fact. You might have a growing family, which doesn’t necessarily mean another child. It could be that you have two children sharing a room and that arrangement isn’t sustainable, or, you get married and as a couple, have to accommodate your combined possessions.
- You need a home office. Whether you are starting a new business and need a dedicated space to work, or, your current position allows you to telecommute, a new home office is the ideal answer. You don’t have to drive to work, it cuts down on your morning readiness routine, and, allows you to be in your comfort zone. Should you not have an extra room to convert into a home office, a bigger home is one way to get what you need.
- You want to be in a safer community. New construction and recently developed communities are usually more safe. Not only are the homes built to the latest in construction codes, they are generally equipped with security systems, and, served by on-site or municipal patrols.
- You need a lot more space. You might have a hobby that’s grown into a big passion, and, takes-up a lot of space. While you could rent storage space, you’ll still have to make the drive to access it, and, there’s no guarantee it will be safe and secure. A bigger home will have the space to accommodate what you need.
- Your lifestyle needs have changed. When you bought your current home, it fit your needs perfectly. Now, times have changed and you’re no longer happy with having to make-do with a small living space. Perhaps you’d like a dedicated laundry room, can’t stand the fact your living room is so small, or, you’d like a larger master bedroom.
Yet another sign that it’s time to buy a bigger home is that you host a lot of out-of-town guests, be they family members or friends. If you’re constantly having to pull out an inflatable mattress, throw a sleeping bag on the floor, or, don’t want to resign your guests to the couch, a bigger home will solve the problem.