Is it really true that when it comes to homes, that bigger is better? If you are currently going on a house hunting, I am sure that you are considering how much house you need. Nowadays, it is becoming impractical to have a larger home that costs like gold and oversized mansions are getting harder to sell.
You want a home that’s probably in between–neither too big or nor too small. But how can you hit that balance? Here in this article, we reveal the top 5 questions that you should ask yourself first that can help you determine how much space you really need.
1. Do I consider moving in the future?
It doesn’t really matter if you tell yourself that your new home would be your ‘forever’ home. We may not know of the things that could happen in the future and you might even consider moving in the coming years. Think about it, will you buy that “permanent’ home where you’ll grow old or a ‘right now’ home is good enough?
Most people have this common perception that when they are looking for their ‘forever home,’ there is a pressure in finding a place that has all the space and in the end leads them to buy a home that's too big.
If you think of it, it’s not really that bad to buy a home that will serve your needs for an estimated five or six years. You can always remodel or upgrade to a bigger space later.
2. Do I want to end up on debt?
If you are just in your early period with your careers, higher is the chance that your earnings will increase over the years. Or, if you are near in the end of your career, you may be in a stagnant or declining income. In either case, it will never be a good option to have a mortgage at what you can afford. It’s preferable that you opt for a smaller house and maximize the space in it.
Having a mortgage on a home that ends up being too big can cause a great burden on your side and it will stress you out. Instead of living your whole life in horror, why not live it in happiness that often comes with a home that’s one size smaller than your dream home.
Plus, huge houses cost high maintenance, more room to fill with furniture, higher utility and electricity bills, and future improvements projects such as installing new floors or walls. Bigger the space, bigger the cost.
3. What will you use all that space for?
Be honest with yourself, are you really going to use all that space? Maybe you’re imagining hosting big dinner parties with big dining rooms. Are you really? Know your priorities, maybe you are saving up for traveling to see the world or you value some other things than space? Make sure that you are considering different factors and that you are not sacrificing them for the space you don’t actually need. You can even consider buying a smaller home so you can live in your dream location such as near the beach.
4. Do I want my family members nearby?
If you’re the type of person that loves to have their own privacy most of the time–working in a home office or relaxing in your personal cave,—then the extra square footage is worth buying. However, if you’re the type who loves being close to your family members, it might not be a great idea to have a large home. Large homes just minimize the opportunity for people to spend and hang out with their loved ones, especially of if you’re a parent who keeps close contact with your kids.
5. Does the size of the house depend on the total of the square footage?
Small homes can also feel spacious if it’s based on an open floor plan and plenty of light. In contrast, large homes can feel small and cramped if they’re dark or badly laid out. Total square footage of a house can deceive you. You should focus on the size of individual rooms instead where you think you will be spending the majority of your time.
So what do you think? Just bear in mind that buying a smaller house can help you save hundreds of thousands of dollars. There is nothing wrong starting your house search on the small end scale and work your way up.
Ivandrea Ollero is a daytime writer for Wincrest Home Builders one of Australia’s most experienced and well-renowned home builders designing and building modern family homes. Ivandrea provides information for choosing the right home builder so people can enjoy their local community with their new residence.