When you purchased your first home, you probably had plans to stay there for a good, long while. But then, things changed. Maybe your family grew faster than you expected, or perhaps you’ve gotten to a place in life where your needs have changed. Start asking yourself ‘Should I buy a bigger house?’
So what’s the next step? It’s time to upsize. Here’s what it’s like with our team:
The first step to take when you’re considering upsizing your home is to objectively evaluate if it’s the right choice. What’s driving the move? Schools? Space? Do I need to buy a bigger house? This is especially important if you’re making the move with a family; no one wants to go through the hassles (and expense) of moving if it’s not necessary. If there is a more cost-efficient and convenient way to address your issues, such as adding an addition onto your home or renovating your space to reflect your current likes and lifestyle, take a deeper look and see what your options are. At the very least, you’ll have more confidence in your decision knowing that you’ve done all you can to make your current homework.
Is Upsizing Right For You?
From the purchase price to the monthly amenity bills, a buying a bigger house requires bigger costs. Even if you’ve recently gone through the mortgage approval process, it doesn’t hurt to meet with your lender and double check that you’re financially prepared to take on a larger home.
Confirming Your Finances
Now’s the time to build out your dream wish list of everything you’d like in your next home, whether it’s simply more square footage, a desirable neighbourhood, or specific upgrades and finishes. Upsizing your home will typically give you the opportunity to check off more of your wants and needs, but be sure to leave room for compromises while planning for the coming years.
Your Bigger and Better Wish List
A great, and very common question! With a bigger home comes a bigger purchase price, and selling your current home first will take the guesswork out of how much you can afford. It is a more conservative approach but it really comes down to your risk tolerance. At the end of the day, whether you buy or sell first all comes down to your personal finances and comfort level and should be discussed thoroughly with your real estate agent and financial advisor.
Should You Buy or Sell First?
Like any large investment, you need the help of seasoned professionals to get the most for your money. When upsizing your home with us, we’ll use our neighbourhood knowledge, access to exclusive listings, and tailored approach to make sure you’re matched with the home you’ve always wanted.
How to Get Started
Ready to upsize your home? Let’s talk!
Just fill out the form below, and we'll get right back to you. If you don't want to fill out a form, you can give us a call or text at 403-923-4700 or email us directly here.