When you’re house-hunting, do you ever feel like Goldilocks? This one is too big. This one is too small. How do you know which home is the perfect fit?
Right-sizing your home and your life is important to today’s homebuyers. When you factor in the maintenance, utilities, taxes, and comfort, you realize that the choice of your next home should be based on more than love at first sight.
Here are some questions to ask yourself as you’re looking for a new home.
- What can I afford now and in the future? Look at your financial situation. Will the cost of purchasing and maintaining this new home prevent you from meeting your savings goals? Remember, that just because you are pre-approved for a particular mortgage amount doesn’t mean that you should spend that much. Be clear on your expenses and goals before committing to your new home.
- How much time do you have for home maintenance? Whether it’s more rooms to clean, a yard (and maybe a pool) to keep up, and possibly some aging systems or spaces that need updates, some homes need more tender loving care than others. A big yard is beautiful, but can you keep it looking nice? If not, can you afford to pay someone to handle the task (see question #1)? Do you like to travel? If you’re on the road, is your home easy enough to lock up and go, without worrying about its care and feeding?
- Is there room to grow—and do you need it? Calculate the number of rooms and square footage you need to be comfortable—and be realistic. Will your family be growing? Will you need a home office in the future? Is it possible an aging relative might live with you? Does the new home have enough storage space or will you have to de-clutter—and CAN you?
- Where do you feel comfortable? Do you like big spaces or is cozy a better feel for you? Do you need a getaway in your home? Will a spacious spa-like bath be a valuable retreat? Do you need space to accommodate hobbies, like a workshop, fitness room, or craft studio? Don’t compromise on the true comforts that make your house a home.
When you’re in the process of house-hunting, look at a wide variety of sizes and styles. Take note of the layouts you like, the room sizes that feel right, and the outside space that seems like a good fit for your comfort zone. Take the time to make a list of your new home priorities, and keep that with you as a checklist when looking at properties, so you aren’t swayed by appearance. Remember, size only matters when it’s the right size!