Things to consider before upsizing
When we dream, we dream big. Picture your forever home and we’ll bet it’s not a two-up two-down…but having a larger house and more room to play with is always a good thing, right?
When it comes to house buying, bigger doesn’t always mean better. So, before you rush to upsize your property, take a moment to read through GD Property Solicitor’s top things to consider first.
Is now the right time to upsize your home?
Whether you’ve bagged a new job or finally secured that pay rise you’d been promised, having more surplus cash each month is one of the biggest factors tempting people to upsize. But that’s not the only reason it could be time to move…
As the family expands, demands on the home increase. More children than bedrooms? Teenagers permanently occupying the only bathroom? Or simply not enough space for all the toys? Family needs tend to be a driving force for buying a bigger house.
It’s not just the kids that are a consideration – pets play a part in the decision too! Perhaps you need a bigger garden for your four-legged friend or more elbow room indoors now there’s another body sharing the space. Pets come with their own baggage and are guaranteed to take up more of your precious space.
If not a full-scale granny flat, a spare room can be a real boon. Having the space to accommodate ageing relatives, enables you to provide additional life-in support should it ever be needed and can be a strong influence for wanting to up-size.
· Home office
The home office is a legacy of the covid outbreak, with working from home now the norm for many. While there are many advantages to only commuting to the kitchen table, it can make it difficult to switch off and separate work from homelife.
The result of this is that many people now long for the space to create a separate home office or study area. A place where you can shut the door at the end of the day when it’s time to clock off.
Loft bursting at the seams? Cars battling for space on the drive? Nowhere to keep the lawnmower? Garages are typically a feature of larger properties and bring with them a host of benefits – and storage!
Why bigger doesn’t always mean better
Ok, so we’ve looked at some of the reasons why a move to a larger property could be attractive but what are the downsides?
· More expensive
Buy a bigger house and it’s not just the number of bedrooms that will increase. Your mortgage, council tax and monthly utility bills are all likely to grow too. And that’s before you start on the cost of furnishing the additional rooms.
If making a move means stretching your budget, it’s likely you’ll have to make sacrifices to your property wish list. The first of these typically being location.
A less desirable area means more house for your money. But before you’re tempted by a lower price tag, be sure to think things through carefully. Will you be out of the catchment for your preferred schools? Might you be too far away from friends and family? Will you feel safe and settled long term?
· Not for everyone
Right up there with driving a flashy car, owning a big house is a status symbol. But do you really care?
Society pushes us to constantly strive for the next level. But step back for a moment. Is a bigger house really right for you?
Whilst you may be able to afford larger premises, will it mean cutting back on holidays and keeping a tight hold on the purse strings? Consider the lifestyle you enjoy and how financing larger premises could impact this before you jump.
· Wrong time
Could it be you’ve spent so long dreaming about owning the ‘perfect’ home that you’re now blinkered? If you stop to really think about it, has the moment passed?
If the kids are independent – likely to be going off to uni or moving out altogether soon – do you still need more space? Is there any point rattling around and spending forever cleaning unused rooms? Be realistic about your stage in life to assess if moving is actually a good idea.
Alternatives to moving
The demand for more space doesn’t have to mean moving to a larger home. Other things you could consider include:
Happy with where you are, just in need of a little more room? An extension could be a perfect – and more affordable – solution.
Not got the room to extend? Reconfiguring space could be the answer. You’ll be amazed how removing or relocating walls can create more usable areas and offer the illusion of more space.
· Use outside
Lucky enough to have a decent garden? Make the most of it!
Invest in a shed for storage. Or how about a summer house or canopy to maximise outside space – making it usable all year round and offering the benefits of an additional room.
Get the right help
All things considered, if buying a bigger home still feels like the right move for you then get in touch.
The conveyancing process can be long, complicated, and fraught with problems, which is why it’s essential to have a team you can trust by your side.
With years of experience, GD Property Solicitors will work tirelessly to keep your move to a larger property on track. With a dedicated conveyancer working on your behalf, you can be confident of excellent service to ensure the promise of your forever home becomes a reality.