There are many factors that come into play when looking for a new home – one of the most important being size. Before you start looking, you should know whether buying a bigger house or downsizing your current one would best suit you and your family.
Below are some factors that can help you with this decision.
Reasons to Downsize Your Home
- You have more rooms than you need. Having extra unused rooms can be a hassle. Not only do they require maintenance, they can also drive up your energy bill.
- You want to save money. Downsizing your home could help you downsize your spending. It may lower your mortgage payments and energy bills.
- You spend most of your time traveling. Why spend all of that money on a house when you’re never home? Downsizing could be more practical financially.
Reasons to Buy a Bigger Home
- Your family has grown. Whether you’ve had children or adopted a furry friend, you’re probably going to need more space. A bigger house can accommodate a bigger family.
- Your dream rooms require more room. Maybe you’ve always wanted a home gym. Maybe you want a home theater. Maybe you want both. Regardless, a bigger home could help. Dream big, buy big.
- You need an extra room. Whether you need a guest room, office, sewing room, or all of the above, a bigger house may be right for you.
For more information on downsizing vs. buying a bigger house, take a look at our FREE checklist: Are You Ready to Make a Move? This interactive piece can help you make the big decision – so when you’re ready to buy a new home – you can start off on the right foot.