Is Bigger Always Better When You Buy a House?
Many people automatically think that bigger is always better when it comes to buying a home – but is that really the case?
What’s the Truth Behind “Bigger is Better”?
A bigger home isn’t always better. In fact, the old real estate adage says, “Don’t buy the biggest, best house on the block.”
In many cases, that’s true – especially when you consider the fact that someday, you may want to resell the home and move into something that’s a better fit for you.
You also want to bear in mind that your home will only appreciate in value in relation to the other homes around it – and if you buy a $500,000 home in a neighborhood where most of the homes range between $250,000 and $350,000, you’re pretty limited on how much value your house can gain.
Weighing the Cost of a Bigger House
In most cases, bigger homes cost bigger bucks to maintain. Your utility bills may be higher, your property taxes may be higher, and all the maintenance expenses associated with home ownership will probably be higher, too.
When you buy a house, you’re making a 15- or 30-year commitment. It’s always best to think in the long-term when it comes to expenses and the costs you’ll incur over time.
Be Realistic With Your Expectations
When you’re searching Tampa Bay real estate listings, remember that you need a home that suits your lifestyle. If your family is growing, it makes sense to buy a bigger house; if you’re an empty-nester, how much space do you need?
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