Let me explain. That enormous house that has captured your attention has some drawbacks. Here it is:
1) Maintenance and upkeep: It begins with the increased mortgage, but it doesn’t end there. Larger homes cost more to maintain, have more furnishings, and have greater utility bills.
2) Future investment risk: Although it is impossible to foresee which investments will turn out to be profitable, smaller homes are becoming more popular, which means it may be more difficult to sell your property when the time comes.
3) Size does not always equate to functionality: Bigger homes may feature areas that are rarely used. Consider something a little bit smaller if you can’t use certain parts on an almost daily basis.
4) Sacrificing location: Stop before continuing if the bigger house is outside of town. You shouldn’t give up location in order to gain a few extra square feet. After all, when purchasing a home, location is a key factor. Consider your commute, local schools, accessibility, and resale value as well as your lifestyle, not just your daily living situation.
When searching for your next cosy house, keep these items in mind.
And keep in mind that nice things do really come in small(er) packages!