Upsize or Downsize: What's Your Best Move?

  Deciding if it is time for your family to upsize or downsize is not always a clear cut choice. There are many factors to consider before taking the leap or staying put for a while longer. Whether you are thinking about upsizing or purging possessions so you can downsize, here are some questions to ponder. 

  Firstly, how are you using your current space? Do family members feel like they don't have adequate space to do their own thing? Is having the kids share bedrooms just not working out? Maybe an upsize is warranted. If on the other hand, you have rooms that aren't being used or are you tired of paying property taxes on more house than you need? Check the downsize box!

  Secondly, have you considered maintenance costs? If you are thinking about upsizing, consider the added costs for maintaining a larger home, whether in money or time. Will you be able to keep up with maintaining the lawn and general maintenance issues that come with owning a home? If you're ready to cross maintenance off your to-do list, perhaps you are ready to downsize to a more manageable property. 

  Thirdly, is it the right market to upsize and downsize? A seller's market is hot for those looking to sell a larger home and downsize. Upsizing may be riskier in such a big seller’s market, but if your family would be happier in a larger home, it might be worth the leap. 

  Lastly, have you looked to the future? What do you expect your needs to be in five, ten, fifteen or even twenty years? Do you want a large home where your children and grandchildren will come for vacations and holidays, or will you be the one spending time at their homes? Consider all these questions before making a decision. 

  Whatever questions you have about purchasing your next home, we at LivingNC would be honored to assist you. Let's work together to make sure your next move is the right one.