When you sell your house for cash, you’re most likely to be in a rush to find the next residence. However, before you jump the gun, make sure to know the size of the property your family will need. Choosing the right-sized home will help make the entire process of moving in smoother. But how do you know what’s the right size for your new home? Here are 10 tips that can help.
1. Look at your current house
The first step into understanding the right size is to assess what you have. What about the house is bothering you? Is there any part of your house that you can live without? Answers to these questions can help determine the property size you may need.
2. Assess your financial state
Your needs are an important factor in choosing the house and its size, but then, so is your financial state. Think beyond the sale and about the monthly costs involved. Can you afford a bigger home? Or is downgrading to a smaller home a better option?
3. Think about the future
What is your 5-year plan? You are less likely to want to move again. Are you planning to expand the family? Or do you think you will need an extra room for your parents? Think about the future before choosing the house.
4. Bigger may not be better
Like many, you may want to be the owner of a big house. However, do you really need it and can you meet the expenses involved? Having a big house comes with a lot of bills, additional furniture needs, and work; it’s not always the better option.
5. Think practically
You may have dreamt of having a home theatre or a man cave. However, the expenses can be exorbitant. Can you think of a more practical option than buying a bigger space?
6. Set a realistic plan
When it comes to buying a house, be realistic. Prioritize your must-haves in the house. What can you really afford and what do you really need? What can you push to a later time? Perhaps, it’s time to decide what’s worthwhile and what’s not.
7. Keep your options open
We all tend to be set in the ways we think our house should be. The key to having that dream home, however, may require a lot of flexibility and adaptability. Is there any aspect of the house you can combine or change a little?
8. Consider resale value
How much will you get when you sell the house in the future? What are the market trends suggesting? What will be more valuable in the future? Resale value is something to consider the day you think of buying a house.
9. Look for new constructions
Considering new constructions like adding a patio or a composite deck as an option during your property hunt can be worthwhile. Some builders accommodate buyer’s requests for modifications and customize the space for them. This can be great for those who want complete control over the floorplans.
10. Go with your instincts
Finally, go with your gut. Your home is the place you will live with your family for the foreseeable future. So, choose a place that makes you happy and satisfied—a place you can envision a future at.
Size is one of the first things to consider in a new residence. Whether or not you and your family will be happy in the property depends on how fitting the house is. This means, finding the right-sized house is important. By carefully measuring your current and future needs, you can easily find the perfect home for you and in the right size!