Many people make it their goal to move into a bigger house. While the benefits of moving to a bigger home may seem obvious, you’ll want to examine the potential downsides.
Everything has positives and negatives. So when asking yourself the question, “should I buy a bigger house?” keep the following list of pros and cons in mind:
The pros of a bigger home
Let’s talk about the good things first:
You’ve got more space
We’re guessing that the draw for more space is what attracted you to a bigger home in the first place. This is especially relevant for people with larger families – more space gives you room to spread out. Children who may have had to share a room before might finally get their own private area. Family members will appreciate the extra breathing room.
Increased storage space
In your smaller home, maybe you had to invest in a storage unit for everything that wouldn’t fit in the limited space you had. Or, maybe, seasonal items that should have been tucked away had no place to go. That won’t be a problem after moving into a bigger home. You’ll have all the storage space you need in the garage, basement, attic, and spare rooms.
A place for guests
Welcoming guests while living in a small home is challenging at best and downright insufferable at worst. If your house was crowded before, it may feel like a cramped elevator when guests are staying with you. In a bigger home with spare rooms, guests have their own space and inviting your parents to stay, or friends from out of town, will be an enjoyable experience instead of something to dread.
More outdoor space
If you’ve got pets – especially dogs – you know how important a yard is. Just as it’s important for pets, it’s important for young kids, too! Having space for your kids and animals to go to let off steam is a definite benefit. With space for a jungle gym, a swing set, a sandbox, or even a pool or a big garden, your yard will surely be a place the whole family can enjoy together.
The cons of a bigger home
There are two sides to every coin so, there will be some disadvantages to moving into a bigger place. Here are some of the cons:
Whether you’re moving to rent or own, the cost of living in a bigger home will undoubtedly be higher than it was in your small home. Not only do you have to think about high rent and mortgage payments, you also have to consider increased homeowners insurance, property taxes, costs of furnishing, utility costs, maintenance costs, and renovation costs.
More time and energy spent maintaining
Bigger properties don’t just cost more. They also take more of your time when it comes to upkeep. You’ll need to spend time maintaining the lawn, cleaning a larger space, and completing repair or renovation jobs.
A not-so-desirable location
You may discover that finding a larger house with an affordable price tag will mean compromising on location. The neighborhood might not be ideal for you with regards to safety or convenience. Larger homes are typically located in the suburbs or in small towns, impacting your commute time. Being too far from work or school isn’t ideal, and it might not be a sacrifice you or your family is willing to make.
Weighing the pros and cons
Before you move out – and before you even settle on a house – it’s important to weigh the pros and cons associated with moving into a bigger home. Is doing so right for your family? Do the benefits outweigh the downfalls? Keep this list of things to consider top of mind while you’re exploring your options.