Is It Time To Upgrade Your Home?
More often than not, we tend to become overly comfortable in our homes, causing us to overlook the fact that we may have outgrown the space.
Life gets busy, and just the thought of selling, finding a new place, and establishing new routines can feel overwhelming (not to mention you might be sitting on a 2-3% interest rate).
If you’ve been contemplating whether or not it's time to make a move, I've created a checklist that should bring a little clarity to the matter.
Whether you have a newborn or your kids are simply getting older, if you’re busting at the seams it may be time to find something larger.
It could be that you need more bedrooms, storage space, a finished basement, or a bigger backyard (or all of the above!) This is the most common reason people upgrade their home.
Your home needs updating
When you’re focused more on the jobs that need doing rather than enjoying the space you’re in, it may be time to make a move. Not to mention, renovations are expensive.
If your current home needs costly repairs, or you dread the thought of having to go through a 6-month kitchen reno with 3 kids and a dog, a move might be worth considering.
When you’re weighing the pros and cons of a renovation or addition, don’t forget to consider resale value. You don’t want to price yourself out of your current neighborhood.
You’re working remotely
This goes hand in hand with needing more space.
If you're working from home more than you used to and require a dedicated workspace that's not your kitchen table, it may be time for an upgrade.
Alternatively, if you’re working remotely and have been dreaming of being further from the office and in a larger home, now may be the perfect time to consider a move.
Your ideal neighborhood needs have changed
Sometimes, you simply outgrow your neighborhood.
Looking for a home near a preferred school for your kids?
Or hoping to move closer to family?
If your neighborhood is no longer serving you, it’s okay to make the move to a new home.
You have equity in your home
Many homeowners right now have an incredible amount of equity that has increased significantly over the past few years, and this equity could serve as the downpayment for your new home.
Your trusted real estate agent can help you figure out your current equity position.
This evaluation could help in your decision-making process, whether it's exploring a move or using that equity for something else —such as a renovation of your current home! How much equity you have may surprise you!
In conclusion, the decision to move is a complex one, intertwined with the dynamics of personal growth, evolving needs, and changing circumstances. Whether you find yourself yearning for more space, longing for necessary updates, adapting to remote work demands, seeking a new neighborhood, or recognizing the untapped equity in your home, the realization that you've outgrown your current living situation can be both liberating and daunting.
Embracing change opens the door to new possibilities, and assessing your unique situation against the checklist I've provided can offer valuable insights as you navigate the path to a home that truly suits the chapter you're in.
Remember, your home is a reflection of your aspirations, and by recognizing when it's time for a change, you empower yourself to create a space that aligns with the life you envision.