We have recently talked about the benefits of downsizing your home and how it can often be a smarter choice. But some families have no option but to upsize their homes. This is often due to their children getting bigger and if a new baby is on the way. If you need more rooms, more space and a bigger outdoor space, there’s no denying that a larger house can help. So if you’re considering upgrading to a larger family home, here’s some things you need to know.
Consider your budget
Owning a larger home will naturally cost more to buy and run than a smaller one. So you need to establish whether you can afford to upsize at this time. To begin with, you need to talk to a financial adviser such as Mortgage Masters and discuss your available options. You will also need to consider how much money you can get from selling your current home. It might be necessary to spend money on making improvements to sell it quickly and at the right price. All of which can affect how much you have to spend. Start looking at properties in your desired area and see what size of house you can buy regarding your budget. You may find that you need to save more or that you need to wait for the market to improve.
It’s vital that you are realistic when it comes to upsizing your home. Otherwise, you may put a strain on your budget and have more space and rooms than you need. For instance, if you have two children, buying a home with three or four bedrooms will suffice. Whereas larger families could consider properties with seven or eight. Also, think about how many bathrooms you will need. Having one upstairs bathroom probably won’t give you the functionality and privacy you require. But you probably don’t want to clean six bathrooms or ensuites either. Talk to your family about what they see as a priority and use that to influence your search. While it can be tempting to want as many rooms and space as possible, it won’t necessarily make it your perfect home.
Choose a suitable neighbourhood
Upsizing to a larger family home means selecting a new neighbourhood too. If you have children or plan to start a family, choose areas with good schools and kindergartens nearby. You can find performance records online as well as class sizes and teaching styles. Living close to parks, kids play areas and swimming pools will also be beneficial. It’s likely other families with children will also be drawn to these areas, which will encourage your kids to make friends. If you’re planning on living in this larger home long term, consider what your children might need as they get older too. Teenagers like to visit malls, cinemas and restaurants as well as use local transport.
These tips should make the process of upsizing your home a complete success. Keep your family’s needs and budget at the forefront of your mind to find a property that is suitable for all.