Deciding to move into a larger home is an important decision. While larger homes offer more space, they generally cost more and require more maintenance. Sometimes, however, a larger home is the only way to live comfortably.
Here are some common reasons for needing a larger home.
1. Growing Family
Perhaps you bought your new home when you first became a couple. However, now, you have a dog, a cat, a child, and another child on the way. As a result, the tiny home that once was perfect is now getting a bit cramped.
Living in a home that is too small can be frustrating. If you’re beginning to feel squeezed, it’s time to move to a larger space.
2. Solid Finances
When you first got your job, you probably had little savings and may have had to settle for a home that was too cozy. However, now that you’ve been working awhile, your income is higher, and your savings have grown. As a result, you can afford a larger place.
The time might be suitable to consider moving to a more spacious home if
- Your income has increased, so your debt-to-income ratio will be good.
- You have a healthy emergency savings fund.
- Your credit scores are good to excellent.
3. Need Space for Your New Lifestyle
Our lifestyles often change, and some changes can require additional living space. For example, you’ve taken on a new hobby, such as painting, collecting antiques, or woodworking. Moving your hobby supplies back and forth from the kitchen table to a closet daily can become annoying.
Or, you’ve started exercising at home and need a dedicated space for your sports equipment. Or, you’ve developed a meditation practice that needs a quiet room.
You may also have recently started working from home. You may find concentration difficult if you only have the kitchen table as a workspace. If you’ve created a business from your home, such as tax preparation or hair styling, you’ll need a dedicated space to welcome customers.
4. Friends or Family Visit More Often
Finding a place to put relatives in a small space can be difficult, especially as they age. Sleeping on the couch or in sleeping bags on the floor may not work as well as it did when your friends were just out of college. Moving to a larger place can provide a dedicated guest room.
5. Parents are Moving In
As parents age, they may become unable to live independently as they once did. Or, you may worry about them and want to keep them close. A larger home creates the opportunity for an in-law suite.
6. Need a (Larger) Yard
Your current home may be a townhome or condominium with no or small yard. But, now you need space for children and pets to play or to entertain friends outside. Or, you’ve taken up gardening. A new home can provide more external space, as well.
Make the Transition
If you plan to move to a larger house, we can help ensure the move goes smoothly. Contact us today for a free quote.