When buying a new house, it’s easy to get distracted by size and think that bigger is better. However, depending on your situation, the opposite may be true.
So how can you determine if your new home is too small, too big, or “just right?” You’ll want to consider these elements.
What’s Your Long-Term Goal? How many years do you see yourself in this house? Is this the place where you want to raise your kids and retire? If not, then size shouldn’t be as crucial as you think. Consider the fact that you will likely move again, which means that you can upgrade in the future if necessary.
What’s Your Financial Limit? For the most part, you don’t want more home than you can truly afford. While you may be getting that promotion in a couple of months, you can’t buy now expecting to have more money in the bank later. Overextending your financial reach is always a bad move, so it’s best to avoid putting yourself (or your family) in that position.
How Many People are Living Here? In a perfect world, everyone would be able to have their own bedrooms, but when you have kids, that’s not always possible. When thinking about this situation, consider how imperative it is to have sufficient space for everyone, and what it will do to your budget.
Overall, buying a home should be about your current needs and how you plan to grow into space in the future. Don’t buy big for the sake of showing off – in the end, you’ll probably regret it.
About Windermere Real Estate
In just over 5 years, Southern California-based Windermere Homes & Estates co-owners Rich Johnson and Brian Gooding have opened 17 offices and have had over 500 agents join their team. Winners of the Brokerage Achievement of Excellence, awarded to them by the San Diego Association of Realtors® (SDAR), Windermere Homes & Estates was also honored to be the first recipient of the new annual SDAR Award given for standard of ethics, commitment to compliance and high regards for running their business.
Windermere Real Estate is ranked the largest regional real estate company in the Western U.S. with over 300 offices and 6,500 agents serving communities in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, and Mexico. Last year, Windermere closed over 86,000 sides for more than $31.7 billion in dollar volume. The Windermere family has a proud heritage of serving our neighbors via the Windermere Foundation which funds services for low-income and homeless families. Since 1989, the Windermere Foundation has contributed more than 38 million dollars towards improving lives in the communities where we live and work. For more information, visit www.windermere.com.