Buyer tip: Bigger isn’t always better
When buying a home, bigger is not always better. Don’t get me wrong, I’m right there with you drooling over enormous homes with a dedicated room for E-VER-Y-THING (home office, exercise room, craft space, homework nook, PLUS ridiculously large bedrooms).
But hear me out. There are some downsides to that larger-than-life house that’s caught your eye. Here goes:
Upkeep and maintenance: It starts with the larger mortgage but don’t it doesn’t stop there. Bigger homes mean higher utility bills, more furnishings, and more maintenance costs.
Future investment risk: While there’s no way to predict what will be a good investment, smaller homes are trending — and that means it might be harder to find a buyer when the time comes for you to move on.
Square footage doesn’t equal functionality: Larger homes often have rooms that sit empty most of the time. If you can’t use areas on an almost daily basis, it’s wise to consider something a tad smaller.
Sacrificing location: If that larger home is outside of town, press pause before moving forward. You don’t want to sacrifice location just to get a few more square feet. After all, location is a top determiner when buying a home. Think lifestyle, not just home-living, and factor in your commute, schools, accessibility, and resale value.
Keep these things in mind as you hunt for your next home sweet home. And remember, good things do come in small(er) packages!