For many, a home is more than just a physical structure. It is often a safe haven where many wonderful memories are built and shared with loved ones. This makes deciding to move to a new home difficult.
Things to Consider When Moving Homes
There’s a very important factor that needs to be taken into account when determining if it's time to move to a new home: your family's needs and wants. Spouses may argue over wanting one thing or another, while children and pets might cause noise issues or even damage. A two-bedroom house is perfect during the first couple of years of marriage while you work on having a baby or two, but once child number three comes along, suddenly it might not seem big enough anymore. With some foresight and a bit of discussion with all members of your family, you can come to a decision about when it's time to find a new home.
A large part of deciding if it's time for an upgrade is knowing your priorities and reflecting on what kind of life you want to lead. Most parents feel like their lives go by too quickly, and sometimes family members' wants and needs change more rapidly than they realize.
There are many factors to consider before deciding to move to a larger home. If you’re on the fence about moving, here are some factors to consider when deciding to move to a larger home.
Space
Do you have children? If so, then upgrading might be necessary. Perhaps the home you currently live in is one you and your partner bought when you were newly married. A house that is adequate for two people may not be comfortable for a family of six.
Aside from how many people live with you, consider how old they are. For example, an older couple who enjoys entertaining guests may prefer a spacious home with extensive amenities. Smaller families, on the other hand, may want something cozier.
Convenience
One of the key things to evaluate is how easily everyday tasks can be carried out. Tasks you need to consider include taking a shower in the morning, working or studying at home, and eating meals.
Some questions you can ask to help determine how much space you’ll need for daily tasks are: * How many bathrooms are there? Are they conveniently located near bedrooms and/or the kitchen? * Could you possibly use one bedroom as an office space when working from home or for online classes? * Do you have a washing machine in the home, or do you need to rely on outside laundry facilities? * What about pets? Not every location is pet-friendly, so if you’re looking to bring home a furry little friend but can’t at the moment, then maybe you should start shopping for a new home.
Practicality
Practicality is a huge factor when it comes to choosing a home. It dictates how much time and money you’ll spend to get to your workplace. How far away is your current residence from your office? Do you commute often just to get to the office? Or do you choose to live outside the city because of its lower cost of living? If the travel time and the money needed to get to and from places, such as gas, toll fees, car maintenance, and so on, add up to be more than the money you can save by living outside the city, then it might be time to look for a new home.
Comfort
Your home should be your refuge where you are free to do things that add meaning to your life, such as playing with your kids. Think about what amenities you want your home to have. Is your current home lacking any amenities that you feel are important? Perhaps you’d like a large backyard for the kids, a pool for summertime fun, or an extra room to accommodate guests? If this is the case, then it’s worth looking into upgrading simply because you long for a certain amenity in your home. Before making the decision to change houses, it might be a good idea to think about what is important to you and your family.
When is the right time to move?
Everyone runs their own race. One family could need four years to prepare for upgrading to a new home while another family takes 20 years. There really isn’t a fixed schedule when it comes to when you should upgrade your home.
At the end of the day, the right time to move is when you are financially ready to have a new home. It does not make sense to go into debt just to upgrade your home. You need to make sure you have enough money to buy and maintain at home as well as for an emergency fund.
Metrobank can help you move into your next home sooner. Apply for a Metrobank Home Loan today.