How often do you think about moving house? Do you dream of more space and more land? You’re not alone. Having a bigger house to meet your needs is on the wish list for so many and with good reason. That said, while upsizing your property and moving house may seem like the best solution it is not without its drawbacks. In fact ‘bigger and better’ is not always the case. So before you bite the bullet and seek to upsize consider all of the ramifications and whether it truly is the best option for you.
You may spend unnecessarily
Chances are you are upsizing because you have outgrown the space you have. However, when you take on more space you will inevitably try to fill it. No matter how much stuff you have you will still find a nook or space in your new house that is empty. A space that you cost you to fill. It could be a new side table or console unit. Perhaps an extra wardrobe or set of drawers for the spare room. This can then lead to wasteful or spending unnecessarily, ultimately costing you more money.
Higher utility bills
With bigger properties come higher bills. The space will be bigger and therefore harder to heat. You will use more electricity to keep the property illuminated and chances are you will also spend more on your water bill.
Not only will a larger property cost you more to run, but it will also require a higher degree of maintenance to keep in good order. The outdoor spaces are likely to be larger, requiring a greater degree of maintenance and you will have more indoor space to keep clean and in good working condition.
Harder to sell
The more expensive the house the harder it will be when you come to re-sell the property. Especially if it is not kept to a high standard. Higher price bracket houses notoriously take longer to sell as there is a narrow market of affordability of potential buyers.
So, what are the alternatives?
The above are just a few examples of some of the practical reasons as to why upsizing may not always be the answer. If you are unsure about buying a bigger property but still need the benefits it offers here are some alternatives.
Self storage may not be a long term solution but it can be an incredibly cost effective option for your storage needs. Storage units can offer up a practical alternative to upsizing your property, for a fraction of the cost.
Extending your current property is another great way to expand on the space and land you already have, giving you the additional space you need in the location and home you already know and love.
If your house is full of things and stuff chances are you may not need everything you have or even know you still have it in the first place. Dedicate some time to having a thorough sort through and decluttering of all the items and ‘things’ you possess and see what you can either, sell, donate or recycle. You will be surprised at just how much space you might free up.