Upsizing; Tips For Buying A Family Home

Your family is growing, and so is your need for more space!

Having been in the industry for over a decade, Jon has built his business on repeats and referrals, often with clients who are looking to ‘upsize’ into a home that meets the needs of their growing families. Going on this journey with our clients is so special, and something we are grateful for everyday. We love seeing the progression from first time buyers, to a budding family searching for their forever home.

Finding a family home comes with a few more wants and needs than the typical home search. Here are 5 things we encourage our clients to consider when upsizing their home.

Costs

More house, means more associated costs – which is why the first step of your upsizing journey should be to talk with your mortgage provider and financial planner. Even if it is your 3rd move – it is always a good idea to revisit your finances to help put things into perspective. The bigger the house, the more heat & hydro costs you can expect – even more so if your family is growing. This is especially important if you are moving from a condo to a detached home, where you might not be accustomed to paying separate utilities or budgeting for maintenance.

Closing costs can also increase. For example, in Ontario, provincial Land Transfer Taxes are based on property value – so you should expect to pay more for your next move, than you did on your first.

Space

It is important to be realistic about how much space you actually need. Take time to assess the space in your current home, and note where you feel you need that extra space to be. Extra rooms are nice – when there is a use for them. Otherwise, too much extra space can quickly become wasted. Make a list of where you lack space in your current home and apply it to your search, maybe you need an extra bedroom, a larger kitchen, a finished basement or perhaps a bigger outdoor living area – all of these things are important aspects to consider when upsizing.

Same goes with filling your newly found space. Don’t rush out to buy furniture, the last thing you want to do is take up all your precious space with oversized furniture that can make it feel smaller. We always suggest, if you can, to spend some time in your place before pulling the trigger on a new couch.

Layout

Having helped numerous families on their upsizing journey, we know that one of the most important things to consider is the layout. Two things at the top of the layout list –

  1. A main floor bathroom
  2. Open floor plan

When you have young kids having a main floor bathroom can be essential – while it can be a good leg workout, constantly going up and down the stairs to go to the bathroom can become a hassle.

The same goes for the open floor plan. Having an open concept living space has long term functionality – not only is it great for entertaining, but it is also nice to be able to have a clear line of sight over areas where the kids play.

Location

You’ve heard it before a thousand times – location, location, location. Not only is it important to consider how the location of your home suites your families needs, but it is also important to consider its resale value down the line. Finding a home in a specific school district, or that is walking distance to amenities can have a huge advantage both to your family, and to the overall value of the home.

If you are considering a more rural property – make sure you talk to your agent about aspects such as school buses, city services, and building codes.

Are you ready to start thinking about your next move? Contact our team today, and together we can help find you the perfect family home to meet all your needs.