There is an uptick in upsizing, with more Americans opting for larger homes. The size of the average house has more than doubled since the 1950s. According to the National Association of Homebuilders, in 2019, the average size of a new single-family home was 240 square meters (2,584 square feet). Have you been toying around with the idea of upsizing? There are many reasons a homeowner might decide to move into a larger home. Here are four common signs it’s time to go bigger.
Your Family is Growing
Whether you’re welcoming your first child or have a second, third or fourth kiddo on the way, you might require a home with more bedrooms. More family also necessitates bigger play and relaxation areas. Your family may also be growing due to extended family members coming to live with you. Perhaps you are taking care of a parent or grandparent. In 2016, a record 64 million people, or 20% of the U.S. population, lived with multiple generations under one roof, according to a new Pew Research Center analysis of census data. Either way, you need more room for all that family love!
If you are considering living with your multigenerational family under one roof, check out Lennar's Next Gen homes! The Next Gen home is the next level in new home living, balancing your family's privacy and togetherness under one roof.
You Just Need More Space
Are your closets overflowing? Are you sick of sleeping on the couch when family visits? Or maybe you’re constantly moving items in your home to access other items. If you’ve tried purging items you’re not really ready to get rid of but are still finding things a bit.. cramped, you might need more space. Holding onto things you want and being able to properly close your closets is as good a reason for expanding the square footage of your home.
You’re Doing Well Financially
Perhaps you’ve found recent success in your career. Congrats! One reason for moving into a bigger home could be that you’ve always wanted more space, and now you can afford it. Maybe you’re still living in a “starter” home and have the financial means to start looking for your “dream home.”
You Need a Home Office
Working remotely is increasing in popularity. Over the past five years, the number of people working remotely has grown by 44 percent. It’s important to try your best to separate your working space from your living area, and having a dedicated office is great way to do that. Finding a healthy work-life balance when working remotely can be tricky, but it’s much easier when you can leave your work in your office instead of answering emails from the couch all day. If you don’t have enough rooms to make one a dedicated office, this could be a reason to upsize.
Are you looking to upgrade your abode? You don’t have to choose between going big or going home. You can go bigger with your home! Whatever your reason for wanted to upsize, Eagle Home Mortgage can help you get into the bigger home of your dreams. A great first step is getting pre-qualified to see how much home you can afford.