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Is Your House Too Big, Too Small or Just Right?

It’s not often that someone buys a house that will suit them for the rest of their life. People’s circumstances change, and so do their tastes. You can fall in love with your first home but decide two years down the line that it’s not for you anymore. Families expand and shrink; people start businesses from home and their financial circumstances change too. If you’re a homeowner, it’s likely that at some point you’ll find yourself thinking that your house is too big or too small for you. But how do you know what it’s time to downsize or go for something bigger?

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David Wright

Growing Family?

Many young couples buy their first home with only one bedroom. When they don’t have any children, they may decide that one room is all they need. But if they decide to have a family, one bedroom won’t be enough for very long. Even families that already have children can find themselves needed to move somewhere bigger. If your family members are getting under each other’s feet, it might be time for an upgrade. Maybe the kids are getting too old to share with each other, or you’re expecting your first child. You might even be preparing for your parents to come and live with you. Don’t put up with cramped living quarters – try looking for somewhere larger.

New Venture?

Another reason to upsize is if you want to run a business from home or are already doing so. Sometimes you start working from home, but find that your business is expanding, and you need more space. But you don’t want to hire commercial space or offices – you might only need one spare room. Moving to a bigger house will give you space to spread out, and a bit more privacy if you live with other people.

Bills Piling Up?

One of the signs that your home is too big is that your bills are getting to be too much. This could be for several reasons. Perhaps your income has recently decreased, or your children have left home. If you’re on your own in a big house, it might be time to swap that four-bed house for a 2 bedroom upper floor flat in Battlefield. The cost of heating a house with too many rooms can hit you hard when you’re short on cash. Even trying to cut down on your energy use doesn’t always help. Plus, there’s the cost of tax and water and sewage supply, which can be affected by the size of your house.

Approaching Retirement?

Homeowners often choose to downsize as they prepare to retire. If you have children and bought your current house to accommodate them, chances are that you now have several empty rooms. You’re likely to be living on a lower income in retirement, so you don’t want to be wasting money on any unnecessary expenses. Instead of leaving rooms empty, it might be time to move to a smaller home. One option is to keep your current home and rent it out for extra income to help you pay the rent on somewhere smaller.

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