House Buying Considerations: Is Bigger Always Better?

Standard
House Buying Considerations: Is Bigger Always Better?

When it comes to choosing a home, most of us want one thing arguably above all other considerations: space. There’s an inherent association between a property being nice and a property being large; an association so strong that many of us struggle to see smaller homes as particularly attractive at all. However, it’s worth considering whether large homes are actually all that we imagine them to be. So let’s try and settle this once and for all: when it comes to homes, is size always important?

YES: Large houses are more aesthetically pleasing

As discussed above, for some people, size is everything when it comes to aesthetics. If you want a good looking home, then bigger most definitely is better in most people’s eyes. If you are of the same opinion, then it’s worth remembering that you will have to live with, and make the most of, the property you choose. You have to love it, so if you don’t think you could truly love a smaller house, then this alone may be a significant enough factor to justify choosing a larger property.

NO: The larger a house is, the more there is to clean and maintain

As attractive as a large home may be, there’s no denying that the larger the space, the more time you’re going to have to spend caring for it. More rooms means more cleaning; large yards means more gardening chores – if you’re not a fan of these and other maintenance tasks as listed on https://www.nytimes.com/, then bigger might be rather unpleasant for you.

YES: Big houses can be downsized if required, so they’re more flexible

Some would argue that big houses have a huge amount of flexibility. If you find that you don’t need a large house, then you can always follow the guide to downsizing on https://wrenrealtyinc.com and sell your property. You can then use the proceeds of the sale to buy a smaller house; potentially even outright.

In contrast, if you opt to buy a smaller home and then realize you need more space, you’re not going to have the same level of flexibility. While you could use your smaller house as equity towards a larger purchase in the future, you’re still going to need to obtain a much larger mortgage to meet the cost difference.

Few of us think far in the future when buying a home; we think about satisfying our needs and requirements for the immediate future. However, thinking a few decades down the line is an important aspect of securing your financial future, so the downsize/upsize issue is one that you will want to consider.

valuee1

 Wikimedia Image

NO: Large houses are more expensive in every regard

If you want to keep your finances under control, then a larger house is not going to help you towards the goal. Larger houses have higher purchase prices, expenses, tax requirements, maintenance costs… the list goes on and on. If you’re budget-conscious to the point where the costs are your only consideration when purchasing a home, it’s safe to say that bigger is most definitely not better.

YES: Large houses are more valuable

This point almost goes without saying, but it is worth noting if you’re intending to purchase your next home as part of an investment in your future. The more square footage a house has, the more potential value it is able to offer. This may be enough of a factor for it to make it worth living with higher maintenance costs, as the potential investment return is more substantial in the future.

NO: Large houses are often targeted by burglars

It’s obvious why this would be the case; it’s a simple assumption that the level of affluence that allows someone to buy a large house should also mean that they have more possessions worth stealing. Of course, there are ways of protecting your home, and modern home security innovations make this easier than ever. However, it is nevertheless worth considering the potential for enhanced risk of burglary before buying a large house.

Final Thoughts:

As you can see from the above, there are arguments both for and against large houses – so how can you know which is the right decision for you?

  • Which of the facts about is the most compelling to you personally? If you are especially concerned with aesthetics, then a larger house might be the best choice. If you’re more focused on saving money, then a smaller house is more suitable. Focusing on the aspect that is most important to you should help you make the correct decision.
  • Apply subjectivity to your personal situation. For example, if you plan to have children soon, buying a house with more bedrooms than you need right now is justifiable.
  • Ensure that you consider your needs for the current period in your life, but try to keep one eye on the future, as well. Property is an important purchase, so you have to try and think many years into the future. While it’s impossible to predict how things will pan out for you entirely, having some inclination of how you would like your life to progress can be extremely beneficial when making the size decision.

valuee2

Which size of house is right for you?

By combining your personal experience with the inherent truths listed above, you should be able to come to a house size conclusion that is well-informed and tailored specifically to your needs. Good luck!

Featured Image Credit

Advertisements

6 responses »

  1. I suspect this is an unpopular sentiment but the right size house is one you can afford. You don’t want to be tied to mortgage payments and have no money left over for the fun things in life. Where I live, the housing market has fallen so now people are stuck with homes of lesser value than they paid, plus interest rates are climbing. I admire large houses, but I don’t think I would want to live in one – they tend not to be cozy because of the size of the rooms and the height of the ceilings, and they are often cold, because it’s harder and more expensive to heat all that space, and unless you can afford weekly maid service, a never ending nightmare of cleaning. On the other hand a too small house can be claustrophobic, (I don’t really understand the tiny house movement). What you want, is like Goldilocks, just the right size!

    Liked by 1 person

  2. Pingback: House Buying Considerations: Is Bigger Always Better? — lifewithlilred – Tips in Buying a House

Leave me a comment and let's chat!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s