Home Size Factors: Current Home, Maintenance, Storage

In part one of this two-part blog series, we went over some of the simplest factors that are typically involved when you’re looking to determine the ideal home size to pursue on the market. From the size of your family to your future plans and more, there are a number of considerations here as you make this important choice.

At Primary Residential Mortgage, we’re proud to serve as top mortgage lenders in the Guilford and Branford areas, providing clients not only with a wide selection of home loans, but also help with the entire process of purchasing a home. Today’s part two of our series will look at some of the other important elements you should be thinking about as you determine your ideal home size while hitting the market.

Size of Current Home

If you’re already in a home currently, whether you own it or are renting, then this is a great place to start when you’re determining the size of home you should look for. If your current home has plenty of space and roominess, then it will be much easier to go with a larger home than if your current living situation doesn’t allow for much breathing room, or if you have hobbies that require a good deal of space that your current home doesn’t provide.

Operations and Maintenance Costs

Naturally, the larger the home you consider purchasing, the more it will cost to maintain moving forward. From taxes and utilities to routine maintenance and everything in between, ensuring that you can handle the costs of owning a home is important at all times, but especially when your new home is bigger than what you’re used to living in.

This is a key consideration to make as you’re looking to determine the ideal home size for your needs. We’ve seen some buyers simply fail to account for these things, and they often have to make sacrifices elsewhere or end up in difficult financial situations as a result.

Storage Needs

When you’re looking at homes on the market, always think about your storage needs both inside and outside of the home. If you have a lot of belongings, whether it’s clothes or holiday decorations or anything else, then you need to make sure that your new home can accommodate those things.

The same goes for any outdoor storage needs you might have, such as a shed or garage. If you don’t currently have space for these things but know you will want or need them in the future, make sure to look for a home with this type of storage already available to you.

For more on how to go about determining the ideal home size for your and your family’s needs, or to learn about our mortgage rates, home loan options or related services, speak to the team at Primary Residential Mortgage today.

*PRMI NMLS 3094. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Opinions expressed are solely my own and do not express the views of my employer.