Nothing wrong with going bigger! Here are six reasons to upgrade the size of your home.
If you’re bored with your house, whether it’s because it’s too small or it’s just not the right fit anymore, it might be time to upsize. A larger home will accommodate all of your requirements and more. Do you need more convincing? Check out these six reasons to upgrade the size of your home.
Are you upgrading your home?
Moving in with a partner, getting married, getting pregnant, babies turning into toddlers, kids turning into teenagers or aging parents moving in with you are the most common reasons people move to a larger home. Of course, more people require more space…but life transitions frequently necessitate a different type of space as well. That could mean moving from a condo to a house to have more privacy from the in-laws, or selling your townhouse because your toddler is having trouble with the stairs, or needing a yard for the kids, a basement for the teenagers or a nanny suite for the nanny. During life transitions, moving to a larger home can help reduce stress and set you up for success.
Space & Size
Because of the high cost of housing, many of us are forced to live in homes that are smaller than we would like. Your closets are overflowing, you’re renting offsite storage lockers, you’re sharing a bedroom with the baby and you’re sending your parents to a hotel when they come to visit. More space could mean more sanity. When you upsize, you gain more square footage and possibly more rooms. It can benefit people from all walks of life, from an empty nester looking for more space for entertaining to a couple looking to start a family – the extra space will be a bonus on your new journey.
No Better Place to Watch Your Money Grow
There aren’t a lot of great places to invest your extra cash these days if you have it. But a great way to watch your money grow is through a larger home. Of course, you should diversify your investments; we’re not suggesting you put all of your money into real estate. But you also can’t live in your stock portfolio.
Increase Your ROI
If you own a home and prices rise by 15% while you own it, the following is your return on investment at various price points:
- $112,500 down payment on a $750,000 home
$150,000 down payment on a $1 million home
$225,000 down payment on a $1.5 million home
$300,000 on a $200,000 home
Larger, more expensive homes allow you to earn a higher return on your investment (in a good market). If you can afford it, invest in a larger home and reap the benefits.
Have a new job in a new area? Have children getting ready to start school? Do you need to be closer to your family? A great reason to upgrade is that you are relocating anyway. Larger homes are typically found in suburban areas away from noise and traffic. You have more space without the hassle of a busy street.
Added or Upgraded Amenities
Who doesn’t like upgraded or new amenities? And you can get that with a larger home. Upsizing may also include larger front and backyards, a larger garage, a pool and upgraded amenities throughout the home. If you purchase a larger older home, you can add upgraded amenities to take it to the next level.
Moving to a larger house isn’t the panacea for all of life’s ills, but it can help. If you are considering home improvements, contact the top stress-free home remodeling team in your area — Valor Home Services. Whether you need to remodel your current home to move to a larger home or you have a larger home that you want to update, we are here to help. For more information or to tell us more about your project, give us a call.