Should you always buy the biggest Woodbridge home that you can afford? A bigger home can give you room to entertain and a place for guests to stay. On the other hand, a larger house will likely have higher property taxes and maintenance costs.
There are other advantages to buying a smaller home.
Here are just a few:
· Lower sale price. A smaller home may have a lower sale price, reducing the amount of the down payment you have to make. The closing costs you have to pay on a smaller mortgage may also be less. You may even be able to pay for your new home completely out of the proceeds of the sale of your larger previous home.
· Lower maintenance costs. Smaller homes usually require you to spend less on maintenance and repairs. Less square footage can mean fewer places for something to go wrong.
· Keep your free time free. If you buy a smaller Woodbridge home, you could save more than just money, you'll cut the amount of time that you will spend cleaning and maintaining the home. It's possible that you'll enjoy your free time more too, having fewer household chores taking up your time, and more money available to spend on other things.
· You won't have any room for extended houseguests. This may be good news or bad news, depending on your personality. If you like a house full of guests, then you're likely to have already decided on the larger home. For the rest of you, it may be a relief not to have the free space to have houseguests.
You may find that the benefits of buying a smaller Woodbridge home outweigh the implied prestige of owning a larger home.
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Realtor Associate/Keller Williams Realty
Servicing Home Buyers and Sellers in Middlesex County, NJ