fbpx

Upsizing Is The New Downsizing

If you’re feeling cramped in your existing home or apartment, then you’re in good company with millions of other Americans looking to upsize from their dwellings. Despite movements to improve floor plans and quality of life by going smaller, the trend in the country still remains to go bigger and many families are skipping starter homes and going for broke with their first purchase. If you’re in need of that extra space, then continue reading and we’ll lay out why upsizing is the new downsizing.

Trends in American Housing

The tiny house movement has seen, what appears on the surface anyway, thousands of small nuclear families and young couples flocking to small dwellings in order to escape the possessions and lifestyles that bind them to traditional brick and mortar homes.

The reality of this, though, is that home sizes have been on the increase for decades and really show no signs of stopping. Sure, romanticizing about a cabin on Walden Pond is one thing, but living there is something completely different and even impossible in today’s world. Plus, with more flexibility in many workplaces lending to opportunities to work from home, having separate spaces for various endeavors may prove fruitful in the end.

Upsize Now, Downsize Later

As we’ve already said, construction trends are showing gradual increases in square footage while lot sizes are diminishing. All that to say, if you’re moving into your first home and you’re expecting a family or looking to grow your family, go ahead and buy the space you need now you can always downsize in the future.

Conventionally, homebuyers have purchased a home and worked into a larger home; however, this takes significant time, money, and a willingness to constantly be searching the market for your next home. Plus, no one wants to move that often! Instead of starting small, consider buying the home you’ll need in 10 years today. If the day comes to downsize, you’ll have equity and likely some extra money in your pocket to buy a smaller home with cash.

Freedom to Move

Probably the greatest advantage to buying larger right off the bat is the freedom and flexibility it gives you to make the space your own. Even if you purchase a home that is larger than your current needs, it should be considered a blank canvas for you to paint the picture of your life and make it uniquely yours.

A large home gives you exactly that: an opportunity to be creative, flexible, and have the freedom to move as life sees fit. If the whole family concept doesn’t work out, consider converting that extra room into a personal yoga or art studio. If the backyard isn’t inhabited by Golden Retrievers after all, then you can plant a lovely garden full of fresh vegetables and flowers. The sky is the limit, and you’ll have free reign to your kingdom.

Jumpstart the Process

The biggest setback to most potential homebuyers when considering their first purchase is the price tag, and that alone can very well turn them away from the housing market all together. Fortunately, the price you pay isn’t something that has to come out of your pocket all at once making your home purchase far more affordable than you think.

For over 20 years, Tidewater Mortgage Services, Inc. has been helping homebuyer secure the financing they need to get started on their home buying journey. Whether you’re starting small and upgrading or starting large, Tidewater can get you pre-qualified for the mortgage you need for the home you want.

{{contained_progressbar.count | number:0}} %