If you close your eyes, you can probably envision what your dream home looks like.
You know how many bedrooms and bathrooms you want; it must have a yard and room for an office and multiple-car parking.
As for the rest of the home features, you’re willing to compromise.
But the often-overlooked variable to the equation is how much size of a home can your budget sustain for the long run?
The following scenarios could be relevant to your planning as you close in on the final decision on what your dream home will be.
Many families decide to buy a larger home for that very reason.
Whether that’s you in one year or in ten years from now, it’s important to factor the size of your family in the future as you consider home sizing.
Other families with children on the cusp of adulthood will think about scaling down.
Sometimes families go bigger to accommodate their aging parents, who might need some extra help in the foreseeable future.
In many ways, proper home sizing corresponds to how big the family is years from now.
The home’s upkeep
As a homeowner, you’re responsible for regular maintenance and incurring costs to take care of things around the house.
The costs for home operations and maintenance should be added into your home budget, in addition to your mortgage and the rest of the home bills.
A firm understanding on how much it’ll take to keep the home functioning as planned will be invaluable during the decision-making process.
Current home size
The advantage of living in your current home is you know what its size is capable of and where it falls a little short. So, if your current kitchen space works perfectly, then shopping for a larger cooking space for the sake of size could hold back your flexibility.
On the other hand, maybe your family living space is just too small for your future needs, then prioritizing a larger living room is prudent.
The pandemic changed the way people work. And if remote work has become part of your company’s culture, then you’re probably on the prowl for a home with a bonus room that would make a wonderful home office or gym.
If you anticipate spending less time at home, working on location, then you can loosen your criteria on the number of rooms or sizing you’ll need.
Do you like to spend a lot of time out in the yard or patio? Or do you prefer to do as little lawn maintenance as possible?
Are you constantly getting the family together? Then you’ll definitely need to consider larger living spaces and open areas to accommodate your lifestyle.
The home’s overall functionality, or its style, will matter as you debate and narrow down your list of dream homes.