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Mortgage Basics

Benefits of Upsizing to a Bigger House

September 07, 2020

Top reasons to move into a bigger home.

Thinking about moving up? This decision can come with some major perks. If any of these could apply to you, you may consider choosing a larger home in your next move.

More Bedrooms

If you have a growing family, this one might be more of a necessity than an added perk. If not, it’s still always nice to have some spare bedrooms for out-of-town guests or extended family members. Or, if you’re planning on growing your family in the future, it’s nice to have a space to grow into rather than having to keep moving to new homes that suit your needs down the road.

More Storage Space

With more square footage comes more storage, and that’s always a perk. Whether it’s cabinet space in the kitchen, a bigger pantry, overflow storage in the basement or garage, etc. – it never hurts to have a little extra space for your stuff.

More Rooms to Customize

Larger homes often have bonus rooms that allow customization to fit your needs.

Young kid room easel chair painting extra room

Not sure what to do with your flex space? The options are endless! Some ideas include:

  • Home office
  • Kids’ playroom
  • Sitting area/den
  • Home bar
  • Hobby room
  • Home theater
  • Game room
  • Home gym
  • Luxury closet/dressing room

More Space to Spread Out

Whether your family is big or small, we call agree that sometimes we just need a little extra space to do our thing. Moving from a smaller to bigger home allows you to do just that.

Experience the Benefits of Homeownership

If you already own your home and are simply looking to buy a bigger house, you already know how great homeownership can be.

But, if you’re living in an apartment and looking to move into a stand-alone house for more space, you should consider the benefits that come with owning your home, such as:

Build Wealth

With every mortgage payment, you’re building equity in your home (increasing the dollar amount you actually own). When you rent, each monthly payment goes into your landlord’s pocket.

Financial Stability

There’s nothing worse than going to renew your lease and having your landlord tell you your rent has increased by a couple hundred dollars. When you own your home, you don’t have to worry about that. You know exactly what your monthly payment will be for the entire length of your mortgage loan.

Creative Control

Remember all those ideas for customizing your home? These will be no problem if you own the house. When you’re a renter, you have to get your landlord’s permission before doing anything extreme (or even non-extreme things, like hanging a photo). Oftentimes, landlords will say no to customizations so the space is preserved and kept un-personalized for the next tenants.

 

Ready to get started on your big move? Find a local home loan expert in your area to learn more about your financing options.