The choice to buy a new home isn’t always clear-cut. While buying might be a no-brainer for people who are throwing money away on rent, if you currently own a home, you have to carefully weigh the pros and cons. Will the gains from buying a new home be worth the hassle and the cost? Could you be relatively happy in your current home by just making a few upgrades?
The choice is yours, but we’ve come up with a few signs that might suggest you're ready for a new home.
You Need More or Less Space
There are a lot of changes that you can make to an existing house, but it’s often hard to change the amount of space you have. If you have kids sharing bedrooms, a lack of space to store things, and a house that’s too small to comfortably have guests over, it might be time for a new home. Likewise, if you have a 2,500+ square foot family home and your kids have all moved out, you may want to downsize to something that's more convenient. Needing more or less space in a home is probably the biggest reason that people buy a new one.
Your Life Has Changed
When you bought your current home, it was the right home for you at the time. Things change, though, and you may need to get a home that better fits your current needs. For instance, a new job might have a longer commute. This can really start to wear on you. Moving closer to your job might be a good choice. Alternatively, you may have bought your first home thinking you’d only have a single child. Now that you’re expecting your third or fourth, you’re seeing that you want something bigger. For many people, getting a house that better meets their needs makes a big difference in happiness.
You’re Ready to Upgrade
You’ve spent some time watching home design programs, and now you have a much stronger sense of the things you want in a home. You can upgrade things like the countertops with a renovation project, but it’s difficult and expensive to alter the floor plan. If you’ve been dreaming about an ensuite in the master bathroom or an open-concept floor plan, for instance, a new home is probably a better choice.
You’re Not in Love with Your Neighbourhood
You deserve to love where you live. You want your children to attend great schools and you want the amenities you need to be within walking distance. You may even have specific things you want in a neighbourhood, such as biking trails or a fun playground for the kids. If you can’t get these things in your current neighbourhood, you need to start looking around. There may be a community that’s a better fit.
You Have Greater Financial Security
Many people start by purchasing a “starter home” because they know they want to build up equity. They do this being fully aware that the home isn’t perfect. If this was you a few years ago, you’ve probably gotten into a better position. You’re probably earning more money and are ready to take on a bigger mortgage to get the things that you really want in a home. With this financial stability, you can finally move into the home of your dreams.
You’re Sick of Drafty Winters
You’re committed to living in Edmonton, which means that you’ve committed to living with the cold. But you don’t have to live in a house that’s freezing throughout the winter. Older homes are rarely airtight. Even when you take precautions, cold air can seep through cracks around the windows and doors. Unfortunately, this leads to high energy costs. In a brand-new home, though, you get to take advantage of all the latest building techniques that keep homes warm. These include better insulation, orienting the home to take advantage of the sun’s energy, and using more energy-efficient appliances. The result is a warmer home and a lower energy bill.
You’re Just Ready
Sometimes, there’s not a single reason for getting a new home. It might be a lot of small inconveniences adding up to a big sense of unease. It might just be a feeling that you don’t belong in your home or that you’d be happier in something else. Whatever it is, when you have this feeling, you know that it’s time to get into something different.
StreetSide has plenty of great homes available, and when you choose us as your builder, you have the ability to design your home just the way you want it. Come talk to our team to see how easy it is for you to get into the home you’ve been dreaming about.