Thinking About Upsizing? Avoid These Mistakes

Feel like you’ve outgrown your space? If so, you may be thinking about upsizing. But before you do, it’s important to know how to navigate the process—and, more importantly, what mistakes to avoid when on the hunt for a bigger home.

A recent article from realtor.com outlined the mistakes buyers should avoid when upsizing to a new home, including:

• Rushing to get into a larger space. You may feel like your current home is too small, but that’s no reason to rush into a home purchase. Before you buy, make sure you take the time to research the market; otherwise, in your rush to get into a bigger home, you might make a critical mistake, like overpaying for a property or buying a home that doesn’t tick all the necessary boxes outside of size requirements.
• Not getting a clear understanding of your space needs before you upsize. Before you upsize, you need to have a clear understanding of how much space you actually need—and what kind of functionality you need that space to have. For example, a house with an open floor plan and less square footage might work better for you than a home with more square footage and a more closed off layout (or vice versa).
• Not planning for your long-term needs. You’re upsizing because you need more space—but you don’t want to run into the same issue in the future. When you’re shopping for your new home, don’t just think of your needs today; think about what you’ll need in the long term. For example, are you planning on expanding your family? If so, you might want to consider a home with extra bedrooms.

The Takeaway:

Bottom line? If you’re thinking about buying a larger home, make sure you don’t rush the process. If you want your move to be a smart one, define what you need from your new, bigger space—both today and in the future.