Moving to a Bigger Home: Is it the Right Decision?
10 August 2021

Moving to a Bigger Home: Is it the Right Decision?

Although moving to a bigger home sounds like a great idea because of all the extra space you’re going to get, that doesn’t have to be the case. Bigger doesn’t always mean better. Larger space means higher living expenses and involves hidden costs. Therefore, before you upgrade your Nevada home to something bigger, you should think twice.

There are both many benefits and many downsides to moving to a bigger home. In this article, we’re going to familiarize you with only some of them. Hopefully, we’ll be able to help you make the best decision.

Do you have a good reason?

Before deciding to relocate to a bigger home, you should think about the reasons that motivated you to consider making this move. If you have good reasons, maybe relocating to a more spacious home is the only logical next step.

A family of four cooking together in the kitchen.

Expanding your family is a good reason to think about finding a bigger home.

Sometimes, moving to a bigger home is inevitable due to different life circumstances. For example, if you plan on having or already have children, it is only natural you’re thinking about getting a larger place. But if your reason is, let’s say, not enough storage, there are ways to solve small storage space issues, so you might want to give moving a little bit more thought.

Let’s be honest – nothing embodies the American dream more than a big house with large windows and expansive lawns. A house like that would surely impress your friends and family. But satisfying your ego shouldn’t be the sole reason for wanting to have a bigger home. It simply is not worth buying more than you need, especially if you can’t really afford it.

Is relocating to a bigger home worth the stress of moving?

It’s no secret moving is stressful. Even if you are simply changing neighborhoods, it is almost always costly, tiring, and time-consuming. But when moving from one part of Nevada to another, this stress might double! Surely, you can always hire professional movers to deal with this important task and make your long-distance moving as easy as possible, but it is still a process you need to plan for.

When moving home, you are leaving your old neighborhood behind. Your kids will need to find new friends and, depending on the distance, most likely change schools. Or you might not get lucky enough to have friendly neighbors. If you and your family love the community you are a part of, you should think twice before leaving it.

Compare the costs

A bigger home means higher expenses. Not only the mortgage but all other costs are higher, too. It might not seem a lot when you first think of it, but the list below might prove you wrong:

  • Even if you move the stuff from your old place, you’ll still need more furniture.
  • Property taxes and homeowners insurance costs are higher.
  • Utilities are naturally more expensive, as well as maintenance and repair costs.
  • If you decide to renovate, the project would be much more expensive.
  • You will be spending much more energy which would also increase the costs. Don’t forget the environmental impact, too.
A man counting money.

Expanding your family is a good reason to think about finding a bigger home.

The primary thing to think about is how much house you can afford. If you feel that your budget can handle the expenses that come with moving to a larger place, you should consider this option.

Location issues

We all know that location highly influences the price of a property. Bigger homes in undesirable locations are much cheaper than the ones in high-end areas. Is getting a bigger home really worth sacrificing the location?

Besides, you are already used to your work route and being close to certain amenities. This would be a significant change for your family, too, and it requires many adjustments.

Return on investment is not guaranteed

Investing in a house is one of the most significant financial steps you can make in your life. It’s common to think that investing in a bigger place will definitely pay off, but that is not always the case.

Of course, we can’t predict the market movements as it depends on so many variables. The price of a home is influenced by many things which we have no control over.

Even if you use different ways to add value to your home, there is no guarantee as the housing market is constantly changing, so you can never know if your property will lose its value. Also, with the downsizing trend getting more popular, bigger homes are getting more challenging to sell.

Are you going to use the entire space?

The functionality of a home is much more important than square footage. If the extra space you’re getting from a bigger home will be unused, there is no point in moving.

If you are adamant that you need extra room, try attending an open house and checking a home similar to what you would like to get. Have a walkthrough, check the rooms and think about what you would use the space for. If there is more space than you plan on utilizing, you probably shouldn’t buy a bigger place.

An empty and unused space is a sign you shouldn't be moving to a bigger home.

Think about the space you’ll be getting when moving to a bigger home. If you can’t utilize it, you should consider staying at your current home.

Downsizing trend

As mentioned, downsizing has become very popular, not only among retirees but also young professionals and even families. Recently, more and more people in Nevada and all across the US are moving to smaller homes.

Smaller homes are cheaper to buy and to maintain, there is less space to clean, and on top of that, by downsizing your home, you’ll lower your environmental footprint.

So should you stay or should you go?

In some cases, moving to a bigger home is a must. However, if you are still unsure, you should consider the options and think about if more space is really what you need. You should take your time and consider various factors. Only then can you be sure you’re making the right call.

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