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You might be planning to welcome a baby or simply running out of space — many homeowners run into the question of upsizing. Is it time to buy a larger home? This is a question that requires some reflection before arriving at the best answer. Here are some of the most important things to consider when you’re thinking about upsizing:
Do you have a five-year plan?
Do you anticipate growing your family in the future and need more rooms to accommodate everyone? Family size is a common motivator for moving to a larger home. Maybe you feel like your teenagers have your house bursting at the seams with stuff. While this can be stressful, if they’ll be heading off to college or out on their own soon, it may not be the time to make the leap. Keeping an eye to the future is important here.
What do you like about your current home?
Aside from perhaps feeling a bit small, what else do you feel about your home? If your home is in the perfect location or has that perfect amount of charm, you may want to pause and reflect. It’s not to say you shouldn’t move; it’s just worth weighing size against more unique features you really love. On the flip side, if there’s a list of ways in which your home isn’t working for you — maybe the layout is all wrong, or it’s too far from your new job — those may be just the things that tip the scale.
Do you need more space?
Most people who consider upsizing will tell you they need more space. When you’re trying to accommodate a growing family, this is certainly a valid concern. If it feels like you just don’t have a place to store everything, this could possibly be remedied without a move. It’s important to determine if you truly need more square feet, or if you need to figure out how to maximize your storage.
What will change?
Something to consider with a larger home is the maintenance needs associated with it. The weekly time you’re used to spending on a quick vacuum and dusting may increase to keep a larger space clean. You might also find that your expenses go up. Heating and cooling a larger home, for example, will be more costly. If you truly need the space, these might be a logical trade-off and something you’re willing to navigate. It’s important to consider the implications ahead of time.
Have you run out of space in your Chicago home? It’s important to consider several factors before making the leap to a larger home. Determine if your circumstances and lifestyle truly demand a bigger space, or if you may just need to make some adjustments to stay comfortable where you are. Have you upsized? Share your experience with us.