4 Reasons to Upgrade the Family Home

November 11, 2022

How do you know when it is time to upscale your property? 

Family homes have one primary purpose and that is to house our loved ones as they grow. They have a sense of nostalgia attached to them. They represent a time and place where each of us grew up. Every one of us came from somewhere, and the family home embodies the essence of this like no other building. Unfortunately, all good things must come to an end.

Also, Read: How Do I Choose the Best New Home Builder?

The Problem with Buying a Family Home

The second thing you should know about a family home is that they are hard to let go of. When your kids flee the nest and there is only you or you and your partner(s), you look around at the space and realize it is too big for you. Despite the happy memories, you feel trapped in a building that is empty without the children in it. 

At this stage, you face a decision. It’s obvious that you ought to downgrade to a smaller house, but you can’t stand the thought of clearing out the kid’s bedrooms. You can free up equity if you move, so it is an easy decision. However, it is not always so obvious when you should leave a family home behind. 

4 Reasons You Should Upgrade Your Family Home

There are two ways to upgrade your family home. You could shop for a new home in a dream location, buying real estate in Texas or Florida. Alternatively, you could seek a room addition, property extension, or even consider an outbuilding. Here are five signs that will tell you it is time.

A New Arrival

A new baby is a wonderful celebratory time in your life. It is also a reason to take a fresh look at your living arrangements. While it is small the baby can stay in your room. When it gets older, it will need its own space. Take the first year to familiarize yourself with raising a child and then plan to add a room. Consider extending upstairs into the attic and putting the elder children up there.

Unexpected Wealth

Real estate is one of the best investments an average person will make in their lives. If you are not interested in gambling on the stock market, then buying up property is a wonderful way to make extra income. If you come into unexpected wealth, think about upgrading your home to build upon your investment. A home is an asset. Building on it is a wise investment.

New Technology

In the digital age, we do not just need to think about how we decorate our homes. The fixtures and fittings are as important now as the digital capacity of a house. Responsive programs like Alexa and Siri have become integrated into our lives. If you live in an old cottage but you love Smart technology, it’s time to upgrade

Home Repairs

There comes a point in a building’s life where the cost of repairs outweighs the cost of starting afresh. This is especially true of inherited buildings that have lain abandoned for a long time. These types of buildings usually need whole house refurbishments, which can run up a cost of hundreds of thousands of dollars.

Time to Upgrade?

Upgrade or move family home. Whatever you do, the memories will stay with you, either way.

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