When does the idea “bigger is always better” not quite right? When it comes to your new home.
Much like Goldilocks, you want to find a home that has the right amount of space for your family. But how much space do you need? The answer may actually be less than you think.
If you’re planning on buying a new home this year, one of the most important questions to ask yourself is how much home do you need. If you’re not sure, here’s are some factors to consider when figuring out the right size home for your family.
How long you plan to stay
While you cannot accurately predict what the future holds, you probably have a general idea of how long you’ll stay in your home. If you think you’ll stay for only a few years, you may be able to manage to live in a smaller home for a while. Otherwise, if you anticipate staying in place for a longer period of time, find a home you can comfortably grow in.
How much time you spend at home
How much time are you spending at home? Are you a homebody or does your home simply serve as a home base between activities, trips, and other adventures? If you prefer to spend more time at home, it makes sense to look for a home with more square footage, especially if they have flexible living spaces that can be adjusted to how you live. If your home is more of a place to sleep at night and keep your clothes, a smaller home may be a better value for your money.
It’s important to consider how many people are in your family and will be living in your home, right now and potentially in the future. If your children are younger, you may have more kids, or invite a parent to live with you, a larger home (or even a multigenerational one) will serve your needs. Likewise, if your children are older and close to moving out, you don’t want to go too large and end up having a lot of empty space.
If you’re considering downsizing, here are our top tips for how to make it work.
It’s important to find a home that not only fits your family and the way you live but also your budget. Your homebuying budget will largely impact the size of home you can afford. As you know, larger homes have a relatively higher cost.
But the higher cost goes beyond just the sales price. Larger homes require more furniture to fill the space and tend to have higher heating and cooling bills than smaller homes. Don’t forget the home improvement projects. Projects like landscaping, flooring updates, painting, or window or roof replacements cost more as well. Larger homes often also have higher property taxes.
And while this isn’t a financial consideration, be aware that larger homes take longer to clean and maintain as well.
Look beyond the numbers
As you tour homes, don’t focus on just the raw numbers. The layout of the home can affect how spacious it feels. A well-designed home can make efficient use of a relatively small square footage, making it feel larger than the number suggest. Focus on the size of the individual rooms and see if they feel like the right size for you.
Homes aren’t one-size-fits-all. What’s right for one family may not be right for yours. Your decision should be based on your plans, family size, usage habits, and finances.
Ready to find the right home for your family? We’re here to help. Visit us at SummerHillHomes.com to learn more about our communities, view virtual tours, schedule a private tour and get ready to find your new home.