Many people aim to move into a bigger house. While the benefits of moving to a bigger home may seem obvious, you should also consider 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 shared a room before might finally get their own private space. Family members will appreciate the extra breathing room.
Increased storage space
In your smaller home, you may have 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 once you move 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, becomes 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. It’s important for pets, and 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
Every coin has two sides, so there are some disadvantages to moving into a bigger place. Here are some of the cons:
Higher costs
Whether you’re renting or buying, the cost of living in a bigger home will undoubtedly be higher than in your small home. You’ll have to consider higher rent and mortgage payments, plus 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 time to maintain. You’ll need to spend time maintaining the lawn, cleaning a larger space, and completing repairs or renovations.
A not-so-desirable location
You may find that finding a larger house with an affordable price tag means compromising on location. The neighborhood might not be ideal for you in terms of safety or convenience. Larger homes are typically located in the suburbs or small towns, which can affect your commute time. Being too far from work or school isn’t ideal, and you and your family may not be willing to make that sacrifice.
Weighing the pros and cons
Before you move out, and before you even settle on a house, weigh the pros and cons of 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 as you explore your options.