Is Bigger Actually Better?

Written by Posted On Monday, 16 October 2017 12:26


It's a cliché in every sense, bigger is better, but when it comes to buying a house, is this true? Sometimes it makes more logical sense to buy a larger home, such as if you're trying to set up a home for the family and you need the space. But what do you need to think about in the real estate market when looking for a bigger house, and is it actually worth upsizing? Here are some things to think about before making that leap into a larger property.

Will You Use The Space?

This is a very valid question to ask, because you may be going for something with big rooms, because they are more valuable, but will you actually use these rooms? A good recent example is a home theater room or entertainment room, these used to be all the rage. As a result, to show status, people would get a house with ever room massive in scope, but this isn't how a lot of people live. So think about your purposes. Looking at a site like Ranch Marketing Associates, this company specializes in farms and ranches for people to build properties, and these types of properties are tailored towards people that are looking for the more rural lifestyle. As a result, these types of people may not be looking for resale value in a cozy neighborhood, but are looking for a bit more space and beauty in the surrounding areas. The purpose is everything.

What Are Your Goals?

In other words, why you do you want more space? So if you are thinking about getting a bigger house because you want a bigger living room, why do you want this bigger living room? Is it because you need a bit more space to house your family, or is it purely because your current living space is a bit cramped? If it's more the latter, do you need a massive living room? Or would you just benefit from something a little bit bigger than what you have now? Also, does your current living space just require a bit more alteration or do you just need a good old-fashioned cleanout? Thinking about your goals will help you to prioritize what you really want out of a home. So it's best to have a plan in place before you start looking.

Think About The Resale Value

Yes, while upsizing means you will have a profit, later on, but if you are thinking about downsizing in a few years, like after you retire, you need to start thinking about the resale value now. It means looking at the market, as well as the habits of current buyers, and what the habits might be in the future. Right now people are looking for space that is flexible, but space means potentially a new neighborhood, which may not be a desirable area, meaning that it will impact your profits.

In many ways, bigger is better, but it all depends on your individual needs. Have a think about exactly what it is you require from your home, which means you need to plan, prepare, and research before you do anything else.

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William Hayes

I am a financial marketing analyst based in California USA.

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