Is it time to sell your house and buy a bigger one? There’s a lot to think about, from your budget and anticipated lifestyle changes to your emotional attachment to your current home and neighborhood. Let’s take a deeper look at some signs you may have outgrown your first home and factors to consider to help you make an informed decision.
Should I Buy a Bigger Home?
While upsizing is not for everyone, a bigger home can be a game-changer for some. Here are five signs that it could be time to level up your living space.
1. Your Family Dynamics Are Changing
As your family dynamics change, so do your housing needs. Consider the following:
A Baby Is on the Way
Your little bundle of joy may need a bigger bedroom, a playroom or both. You may also want a larger yard for that future swingset or an extra bedroom for when the grandparents come to visit.
Your children are growing
If your children have been sharing a room, perhaps they are getting to the age when you’d like them each to have their own space.
Aging Parents Are Moving In
Maybe you’re thinking about asking your aging parents or in-laws to move in with you. According to the U.S. Census Bureau, the number of Americans aged 65 and older is expected to more than double by 2060. This means there will be more people who may require care and support — and the likelihood that more will be moving in with their adult children.
Accommodating your parents may require another bedroom, an extra bathroom and adequate space so they can maintain their privacy and independence.
2. Stairs Are Becoming an Issue
Both small and large homes can have lots of stairs to navigate. But if your current home is too small, plus has stairs that are becoming harder for you or someone in your home to manage, moving to a bigger single-story home can be a good option.
Single-story homes have several advantages:
- Safer for those with mobility restrictions, seniors and children, especially those on-the-go toddlers – There is less risk of stair-related injuries
- They often have a spacious, open-concept design, which makes it easier for parents to keep an eye on their little ones – It’s also great for entertaining.
- Easier to maintain – No need to lug a vacuum or carry loads of laundry up and down several flights of stairs
3. Your Layout No Longer Accommodates Your Needs
Your home may have been ideal when you first purchased it. But everyone’s needs evolve over time and sometimes it can make more sense to purchase a new home instead of trying to make your current one work. A few scenarios that may warrant moving to a more spacious dwelling and layout include:
Working From Home
A Pew Research Survey found that 35% of workers with jobs that can be done remotely work at home all the time and 41% are in hybrid work models. If you’re working from home and trying to conduct business at your kitchen table or bedroom, a new home with a dedicated office may help improve your focus and minimize distractions.
Setting Up a Home Gym
If you value the privacy, convenience and cost-effectiveness of working out at home, you may want to upsize to a house with room for a gym. You’ll be able to work out on your schedule without having to adhere to a gym’s operating hours.
Opening Up the Space
Traditional closed floor plans are great for noise control and privacy, but many homeowners desire the increased sense of space that open floor plans can provide. If you’d rather not spend the time and money to start knocking down walls, moving to a home with a more spacious multi-functional living area could be right for you.
4. Your Current Location No Longer Fits Your Lifestyle
You’ve heard the home-buying adage, “location, location, location.” If your location is not fitting your lifestyle, it may be time to move to one that does. There are many reasons why you may want or need to pull up your roots and move to a different area, including:
- Job, school or other opportunity
- Desire to be closer to family
- Significant relationship change, such as getting married
- Lowering your cost of living
- Improved access to healthcare
- Better school district or neighborhood
- More pleasant climate
- Personal reasons, such as wanting to explore a new area
5. You’re Bursting at the Seams
Everything from a too-cramped kitchen to overflowing drawers are signs of growing pains. If you have to brace yourself as you open your closet or maneuver around clutter like your floors are an obstacle course, it could be time to get a bigger place.
Moving to a larger home that can accommodate all your belongings can help clear your spaces and reduce stress. Think of the ways you could benefit from a roomier living space:
- You’ll have enough bedrooms for your children, relatives and visiting family members and friends
- A bigger garage can fit more vehicles, tools, outdoor supplies and equipment, seasonal decorations and more
- A larger kitchen will have generous cabinet storage, an expansive countertop for food prep and appliances and ample space for people to cook and mingle
- Stay organized with additional closet space throughout the home
- Use a bonus room as a den, office, gym, playroom, craft room or even a game room or home theater
When your once-perfect home doesn’t quite fit your present needs, sizing up could be a wise decision. Use a home value estimator to see how much your existing home could be worth and consider whether now is the right time to step up to more square footage.
