When is the right time to upsize?

Upgrading to a bigger house is exciting, but it's also stressful. A lot of factors have to come into play before you make the leap, like your finances and family needs. We'll walk you through some considerations so that you can decide if moving up is right for you.

Your needs may have changed.

You may need to move to a larger home if you are planning to have children. If so, your needs will have changed and so might the size of your home. The same goes for any ageing parents who might be moving in with you as well.

If you're planning on starting a business from home, having more space such as a separate office, will make it easier.

Are you ready to be a homeowner?

When you are ready to be a homeowner, it is important that you have a long-term financial plan. You should know how much money you can afford to spend on housing each month, and have the right insurance in place. If you do not have a good credit history or if your income is unstable and inconsistent when compared with other factors like age or length of time living in the same location, then renting may be more suitable for your needs at this time.

Your family is growing.

When your family grows, you may find yourself wanting more room. It's important to consider the cost of living in a bigger house and what that means for your finances. You'll need to pay for utilities (electricity, gas and council tax), maintenance costs (repairs), and insurance premiums on top of rent or mortgage payments.

If moving into a larger home means moving further away from work or other activities where everyone will be spending their time together--and if those daily commutes add up over time--it might not be worth it just yet.

Conclusion

As you can see, there are many reasons to upsize your home. You may have noticed that most of these reasons involve family or finances. We hope this article has given you some insight into whether or not it would be right for you. If so, then we wish you luck in finding the perfect place for your family's next chapter! If you have any questions, speak to Andrew today through our contact us form or call us on 01233 501601.