7 Things to Consider When Relocating to a Bigger Home28 Sep Johnny Devora
Alt-tag: A woman pointing at a floor plan on a laptop.
Moving up is a common goal to strive towards. Many homeowners are opting to scale it up these days, whether for additional bedrooms, a safe garden for the kids, more storage room, etc. Whatever your reasons may be, relocating to a bigger home is a significant choice to make. Along with the luxury of a fresh start in spacious heaven comes the duty of managing your new home and the financial responsibilities. We bring you a few things to consider before you start searching for homes and begin the process of moving to a larger house.
#1 Your Current Home
Before relocating to a bigger home, it's vital to think about it thoroughly and make a solid plan. First, you should write down all the reasons for wanting to upsize to ensure it's not a rash decision you will regret in the future. The most common motives for taking this step are a growing family or a higher income and lifestyle changes.
Once you've decided to move, it's time to think about what destiny awaits your current home. Selling your house can be difficult, especially if you are also shopping for another property simultaneously. The choices you make along the road may save or cost you thousands of dollars. Make sure to hire a reliable agent - this can make or break your future plans.
#2 Financial Aspects of Relocating to a Bigger House
You are probably already aware that a bigger house comes with a heavier financial burden. Larger properties have higher monthly mortgages or rents than smaller houses. However, this is not the only factor to consider when analyzing your finances and determining your housing expenses.
Property taxes, bills, and maintenance expenditures (repairs, cleaning, etc.) will also be costlier. Larger spaces necessitate more furniture than smaller houses. Before you decide to upsize, you should be sure that you can afford all of these expenses without encountering financial issues.
Most inner-city areas are reserved for apartments and smaller residences. Thus, if you want a big house, you will probably have to settle for the suburbs or the city outskirts. Some of the advantages of suburban areas include:
• better air quality
• less noise and traffic
• better price per square foot
• more space and green areas
• safety and the feeling of community
This can be a great thing for anyone who wants to get away from the hustle and bustle, but it can also be quite a change. Therefore, you should try to find the right neighborhood for you and your family.
#4 The Consequences of Owning a Big Home
The bigger your property, the more challenging it is to keep it neat and in excellent form. There are more things to mend around the house; a larger area takes longer to clean up, a big garden needs to be regularly maintained, etc. There's a possibility you might need to hire extra help to keep everything in shape.
Alt-tag: A woman calculating expenses for relocating to a bigger home.
One major issue is a potential spike in expenses for utilities like gas, electricity, and water when you move to a bigger residence. A larger house will cost more to heat and operate in terms of equipment. The expense of basic upkeep and minor damages should also be taken into account.
#5 Long-Term Goals
When deciding whether or not to move to a larger property, examine your demands and whether or not you truly require the extra space. Your new home should be in line with your long-term goals and plans. It's not only your money going into it - relocating to a bigger house also requires a lot of time and effort.
You might want a larger home right now, but this decision can change down the line. Your children may leave the family nest when they become adults; your financial status may change, you may be unable to keep up with maintenance, and so on. If you pick your property wisely, you will be able to benefit from it if the time comes to sell and move to a smaller home.
#6 Moving Plans
Once you've taken serious steps towards relocating to a bigger home and purchased your home, it's time to organize your move. You will need to choose your moving date and decide which moving option to opt for. It might be best to get help from expert movers to ensure your relocation runs smoothly. You will also need to handle all the paperwork and pack your belongings.
Alt-tag: A woman and man packing boxes.
Moving gives the chance to start afresh, but you don't have to toss away all your current furnishings. There must be at least some pieces of furniture that could serve their purpose in your new home. For any pieces difficult to transfer, professionals experienced in moving furniture can help you along.
#7 Resale Value & Potential
It is vital to have a good grasp of the resale value before relocating to a bigger home - unless you expect to remain in the house for the rest of your life. After all, a large home is one of the most significant investments, both financially and emotionally. As a result, the house must have the potential to appeal to future buyers.
Moving is one of those events that are equal parts stressful and fulfilling. You get to start a new chapter in life in a brand-new space, which is especially satisfying when it comes to relocating to a bigger home. So, make sure you choose well – and good luck!