Needing to upsize a home is part of every homeowner’s ownership journey. However, the significant role of being a homeowner is understanding when your starter home no longer suits your needs as it once did. While it can sometimes be difficult to know when is the right time to upscale, there are many reasons why you may want to relocate to a larger and more appealing home. Here are some signs that show it could be time to upsize your home
- You can afford a new home
The chances are that you would need to upsize your home later in life, and it’s good to do so when you are financially stable. If you have gotten a promotion or your business is doing well, now could be an excellent time to move into a bigger and better home. However, it’s usually advisable to sell your old home before you buy a new one. This will give you funds to make a downpayment on your mortgage and help you avoid spending two mortgages at once. Work with Mill City Homebuyers to get a market analysis of what you can expect your old home to sell for.
- A growing family
While your family grows, your housing needs will change, and you will probably require more space. The two-bedroom condo you bought as your first home will not be sufficient as you get more children. Kids will happily share bedrooms when still young, but things will change as they grow older and bigger since they would probably need their own space and privacy.
A larger home allows for a more comfortable lifestyle than a starter home, which can quickly become cluttered as the number of furniture and toys needed increases. Even when your family is yet to grow, upsizing gives you the freedom to expand later on without worrying whether you have got adequate space to accommodate another baby.
- You need a space for your furry friends
With an estimated 57% of consumers owning at least one pet globally, it’s no surprise that your furry friends factor into your home buying decision. Dogs particularly need a vast space, a well-sized yard, and usually desire to live near a well-maintained park for their daily walks. Moving to a bigger home can give you the room to keep pets and ample space to care for them properly.
- Your current neighborhood no longer suits your needs
Your current home might have been in an excellent location when you first bought it, but things change. Perhaps it was close to friends or your favorite restaurants, but as your lifestyle changes, you may find that you want more from your neighborhood.
You may want to be closer to your workplace or schools, and relocating is the only way to have these things closer to your home. If you feel like your current location doesn’t suit your needs, it might be a good time to upsize your home.
If you have gotten yourself relating to any of these signs, it might be time to upsize your home. It’s a move that can give you, your family, and even your pets the space they deserve. In addition, a bigger home brings in new opportunities, including the opportunity to further grow your family and to use your home as a space to entertain.