When searching for a new home we tend to go in with unrealistic expectations and demands. Don’t worry, it’s natural. However, it is often hard to determine exactly how much space you need in your new home. With hobbies, family members and general acquisition of furniture and various other objects, it’s important to make sure you have enough space to accommodate your life.
It’s not just what you currently need or want that you need to think about, but also what your goals and plans are for the home. Are you thinking about having children, if so, is this the home you plan to raise them in? Is there an option to extend?
Consider how you live in your current home, does this layout work for you? Do you prefer open-plan living space for entertaining? Do you need a formal living room for the adults and a separate den for the kids? Do you work from home? Do your hobbies require additional space?
Taking all these factors into consideration enables you to realistically start the thought process to determine how much space your home needs.
Things to consider about opting for a larger home:
- With a larger home comes larger utilities bills. The cost of running the house will be more due to the additional space requiring energy.
- Expect higher taxes and insurance on the property.
- Maintenance will require more time and money.
- That extra space means a higher mortgage payment.
- Extra funds will be needed to furnish the additional space.
Things to consider about opting for a smaller home:
- A smaller home means less space to grow as a family.
- Entertaining space may be limited.
- There may be a lack of sufficient storage.
- Not enough space to do hobbies or work from home.
- Lack of personal space from other family members.
How to calculate and compare your current home to what you are looking for:
- Measure all the rooms in your home and compare to the space in possible contenders for your new home.
- Take note of how you use each room and whether it fulfills its primary purpose.
- Note how each room feels in terms of space.
- Add up how much space you’d like and need in each room.
If you are looking for a new home, please contact New Home Resource at (702) 365-1000.
