Upsizing is one of the most exciting and daunting times of a person’s life. There’s the prospect of all that extra space and the potential it holds, combined with the extra responsibility and the (probably) extra mortgage payments.
Upsizing isn’t something you tend to just do, though. Usually you start to feel pushed into it by life changes and pressures, so here are the signs that it could be time to move into a bigger place.
You have a growing family
If you have a new baby on the way, or the children you already have need their own bedrooms or a bigger garden, then you might need to had to an estate agent.
It may be the case that you’re planning another baby, or you’re preempting your children needing space for themselves. Either way, now is always the best time to search for somewhere with that extra bedroom or a garden with space for a swing.
The market is ripe for you and your needs
The property market is always changing, with interest rates going up and down and postcodes falling in and out of fashion. If you’d planned to move to a bigger place “sometime in the next few years” but you notice some brilliant mortgage deals, then it might be time to steal a march and get moving.
You’ve run out of space for things
While things aren’t as important as people, they are still quite important. If you’ve run out of space for your furniture or work equipment, then rather than packing it up and selling it, pack it up and give it a bigger home.
You can finally afford a bigger place
Maybe you’ve had a promotion or several since you bought your current place, or you’ve paid enough off your mortgage to ask for a slightly bigger one. Most of us start off small when it comes to the property ladder, so aiming higher and bigger is a natural progression. If you’re not flinching at the prospect of a few hundred pounds more in mortgage payments each month, or the sale of your current place will give you a big deposit on a new one, it could be time…
Your current area isn’t suitable any more
A lot of people upsize simply because they move area and properties just happen to be cheaper there. It could also be the case that you need to move for work, to be nearer to family or because you need to be near to decent schools for your children.
You might also decide to skip a couple of property ladder rungs to save on the stamp duty and commission and just go for a larger property before you feel pushed into it by your circumstances.
You’ve just got married or moved in with someone
When you live alone, you don’t need as much space. You also might not be able to afford as much space. Pooling your resources with a significant other means you have twice as much stuff to accommodate, so it’s a good job that you’ll probably have twice as much money to spend on somewhere to live…
If any of these indications ring a bell with you, it could be time to hit up your friendly local estate agent to see what’s on offer in and around your postcode.
