Finding yourself in a home that isn’t big enough for your lifestyle calls for an upgrade. Not only can a cramped space lead to discomfort, but in some cases it can be downright impractical. While there are many different circumstances which may lead to looking for more square footage, here are some of the most common reasons why people buy a bigger home.
A Growing Family
At the top of the list is needing more space due to a growing family. Whereas your home was once perfectly equipped for you and your partner, once you introduce a child or two into the picture, it can start to become a challenge to accommodate everyone.
Children aren’t always the reason for a growing family, either. It may be time for your older one to move into an assisted living facility, unless you have the space to let them move in with you. A bigger home can provide plenty of space to ensure that everyone in your family has enough room to live comfortably.
Life is a series of checkpoints, each one bringing us closer to our final goals. Whereas you may have been comfortable in your small home at one point, once you find yourself with more income you may feel ready for an upgrade. A bigger home is often a symbol of success, and something that serves as proof of your hard work.
It can also be a smart investment. Once you have enough money to put down a down payment for a handsome home, you can make your money back and then some once you choose to sell.
For people who live in high density areas like New York or San Francisco, small living is often the norm. After all, you’re not going to find many 3000 square foot homes in the middle of a major metropolitan area. Many people decide to relocate to a new area specifically for the affordable price of square footage.
While people may not necessarily have children now, they may anticipate expanding their family in the future. Rather than waiting until pregnancy to upgrade to a larger home, they prefer to plan well in advance. The comfort of knowing that the space is there once they do have children is reassuring and convenient.
More and more people are turning towards entrepreneurship. Depending on the type of business you run, you may be able to run it out of your home. Running a business out of your own home can not only save you significantly on expenses, but it can also be incredibly convenient, particularly if you have children to look after.
For this reason, many homeowners decide to upgrade for a bigger home in hopes of expanding their business from the comfort of their own living room.