When it is time to upsize your home, make sure you do it the right way.
If you are at that stage in life when multiple generations are living under one roof, it might be time to look at purchasing more space. There is a lot to consider than just the square footage of a new home. Here are six things to keep in mind in your quest for more room.
Know your goals
Make sure you know exactly what you need in a larger space. Even more importantly, understand what areas of the house need to be bigger to make sense for your family. Listing your goals will help you keep track of them as you begin your house search.
Does the layout work?
This is especially important when you have many generations living together, all who need their own space. What you want and what is available might be very different, so have a clear idea of your ideal layout as you begin to attend open houses.
Only buy what you need
It is tempting to upsize to a larger home, but that is not always beneficial. Make sure the space in your new living arrangement has the rooms you need and not just, what you think you want.
Do not get sticker shock
Upsizing is going to come at a cost. Make sure you and your family can afford more space. In addition to a higher mortgage, consider that utilities are going to cost more, and you are likely going to need more furnishing to fill the new space.
Think about the future
If a highly customized home for multi-generation living is right for you now, will it be able to sell later on? Consider the resale value as you find your perfect space. It might make sense that your new home incorporates some of the latest trends to help make it more intriguing to future buyers.
Be prepared for a new neighborhood
Upsizing is probably going to mean moving to a new community. Depending on how attached you are to where you are living right now, this might not be a good idea. You are going to have to consider all the options before embarking on your quest to upsize. However, when you consider these tips, you are better poised to find something that will work for you now and in the future.