If you’ve been struck by a feeling recently that you may be outgrowing your home, it may be time to start thinking about finding a solution and moving on to a new property. This feeling is common for homeowners of all ages and financial situations, as many struggle with living in a property that no longer meets their requirements. That’s where we come in.
Below, we’ve outlined everything you need to know about outgrowing a home and how to fix it. So, whether you’re seeking a new property in Old Greenwich real estate
or Riverside, let’s dive in!
Signs that you may have outgrown your home
If you’re feeling cramped and crowded at home, it’s time to determine whether or not you’re truly outgrowing the property. Maybe your family has expanded in recent years, or perhaps your career has evolved and your space no longer fits your lifestyle. Whether you’re physically or emotionally outgrowing your home, it’s essential to have a space that suits you. Here are five clear signs that your home may no longer be the right match:
1. Out-of-town guests visit frequently and complain about size constraints or a lack of comfort and privacy
2. Home repairs are becoming more and more costly, whether they’re made to your basic heating and cooling systems, appliances, or somewhere else
3. Your family is growing, either from newborn children or other family members moving into your home
4. Career or professional demands are making it harder to commute to work or remotely work from home
5. Your home has a lack of amenities and home upgrades that you are seeking
The pros and cons of outgrowing your home
Now that we’ve shared a few key tips for understanding whether or not you’re outgrowing your house, you might be wondering where to go from here.
There is certainly a fair share of homeowners who hesitate to make any changes to their living situation. Whether you decide to search for a new home or you plan to upgrade or expand your current property, the cost of a renovation or move isn’t anything to scoff at. Not only that, but outgrowing your home can be bittersweet and challenging. Letting go of a home where you’ve built memories is a highly emotional milestone in life. At the same time, the future is bright, as you can set out on a new journey once you’ve decided to take the next step.
On the positive side, outgrowing your home can be a wake-up call of sorts. Once you’ve decided that you and your family can no longer live comfortably in your piece of Old Greenwich real estate, it becomes much easier to determine the next steps to take. While moving on to a new property can be an emotional and overwhelming journey, it’s an opportunity to find a home that truly is the right fit.
Perhaps you’ve outgrown your storage space in particular. A more expansive home with spacious closets will allow you and your family to free up unused square footage that was once reserved for boxes, miscellaneous belongings, and extra clothes. Another plus side to owning a larger property is that you can now spend more time entertaining and welcoming more guests than you previously did. A larger house makes it much easier to invite groups over and host fun events.
Have you outgrown your home? Here are some solutions
Now that you’ve concluded that you have, in fact, outgrown your home, it’s time to start thinking about what to do to fix your predicament. Below, we’ve detailed some of the most important things to do when you’ve outgrown your house.
Find an agent who understands your needs
If you want to move on to a new property that truly exceeds your expectations, it’s crucial to partner up with a trusted local agent who can connect you with homes that align with your criteria and goals. An experienced local agent will be up-to-date on the Old Greenwich real estate market trends, with insightful knowledge about comparable homes, larger properties in your area, a history of sale prices, and property values. They will have a first-hand understanding of specific neighborhoods and amenities, and they can lead you to a new home that’s spacious and has all the features you’re looking for.
Make a realistic budget
Whether you move into a larger property or choose to make some home improvements that free up underutilized space, you need to think about financing first and foremost. Draft a realistic budget with the help of your real estate agent and a financial planner. In your preparations, you want to include the estimated costs of a major home expansion, contractor services, moving fees, and more. If you’re moving into another house, don’t forget to research the property values for homes within your range of square footage.
Boost your credit score
This tip is particularly important to keep in mind if you’re going to be moving out of your present residence and buying a new home. In order to make yourself as qualified a buyer as possible, meet with your lender of choice as early as you can to get insights into your creditworthiness. Continue to pay bills and utilities on time as you wait to enter the market and shop for homes. Keep your total credit use as low as possible, and avoid getting your credit checked frequently. With a better credit score, you’ll be eligible for lower mortgage interest rates.
Get in touch with a local real estate agent today!
*Header photo courtesy of Russell and Mark Pruner