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When homeowners upsize, it could be for several reasons. Maybe their first home wasn’t their dream home, or perhaps there have been some new additions to the home, like a baby.
Moving into a larger home will take some adjustments, especially when first moving. To help make your transition into your larger home as easy as possible, we have created this helpful list of what to consider before doing so.
Consider your day-to-day life. How much additional space will you need to ensure you can comfortably live and operate within your home. You want your home to work for you and make your life easier, and some additional square footage can help with that.
However, be sure to determine how much you will need, and don’t go overboard. Upsizing can be very exciting, but you don’t want to have an excessive amount of space that will go unused.
When looking into upsizing to a larger home, the increased price will not only be reflected in the mortgage, but other fees attached to home care and maintenance will also rise.
Utility bills, property taxes, repair and maintenance, and home insurance are some examples of other expenses that will increase when upsizing. When creating a new budget for your larger home, be sure to include any increased fees so you can plan accordingly.
While you may have a great house in mind and excitement is high, it is recommended that you sell your home before you buy a new one.
However, if you must buy a home before selling your current one, be sure to know how much it will sell for, you list it immediately after conditions are waived on your offer, and you get a 90-day closing so you have adequate time to sell and don’t feel rushed.
When upsizing to your new, larger home, you may also be changing areas. If you are located in the heart of downtown and are moving to the suburbs or vice versa, your lifestyle may have to adapt and change to fit the new setting.
Selling, buying, and moving homes can be a long process that can be very expensive, so be sure that the home you are moving in is something you really want and can see yourself living in for the foreseeable future.
Upsizing to a large home can be incredibly exciting. While there are new obstacles to overcome with a larger home, this quick guide on things to look out for should make the process as easy as possible.
Take time to learn as much as you can about your new home and the idiosyncrasies that come with it for an easy transition!
To learn more about packing efficiently, check out our ‘The best order to pack your home’ article.
