When it comes to the size of a home, is a larger home better than a smaller home? Depending on who you ask, you most likely will get various answers as everyone has different needs and wants. Whether you’re looking to purchase a home, or want to have one built for you, one important question often comes to the forefront: what size home should you choose? Is extra square footage really all it’s cracked up to be?
It might surprise you to learn that when it comes to homes, bigger isn’t always better. When deciding upon the size of a home, it is very important to look at where you might be in life in the next five, ten and fifteen years. For most, a home is a long-term investment due to appreciation and equity , so ideally the chosen home needs to suit the owner’s needs for many years. Perhaps you are nearing the empty nest chapter in life and a large home is with many bedrooms and living spaces in no longer needed like it once was. Or maybe you are thinking about growing your family or moving your elderly parents into your home, then perhaps a larger home is more beneficial for your needs.
There are pros and cons to having a smaller home. Some of the advantages being that a smaller home is easier to maintain and are generally less expensive. While some of the cons are the lack of privacy because there usually aren’t any extra places to go, and if you are not cognizant on accumulating “stuff”, clutter can rapidly become an issue.
Likewise there are advantages and disadvantages to having a larger home. Having the extra space allows more for entertaining space and creating personal space to pursue hobbies and interests. Conversely this extra space requires more upkeep and oftentimes incur more expense.
When choosing the right size home, focus in on what you’ll be using that space for- and don’t overspend just to have a larger home when a smaller home may suit your needs both now and in the future!
