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

  1. 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.
  2. You want to save money. Downsizing your home could help you downsize your spending. It may lower your mortgage payments and energy bills.
  3. 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

  1. 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.
  2. 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.
  3. 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.

Are you ready to make a move?

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