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Upsize or downsize: Which is your best move?

Words // CPO

Deciding if it is time for your family to upsize or downsize is not always a clear choice. There are factors to consider that might push you to take the leap or stay put for a while longer. Whether you are thinking about upsizing so your family can spread out or purging possessions so you can downsize, here are some questions to ponder.

HOW ARE YOU USING YOUR CURRENT SPACE?

Do your family members feel like they don’t have adequate privacy or space to do their own thing? Are you tired of working at the dining table and really need an office or workshop? Is having the kids share bedrooms just not working out? Maybe an upsize is warranted. On the other hand, do you have rooms that aren’t being used, or are you tired of paying maintenance costs for more house than you need?

HAVE YOU CONSIDERED THE MAINTENANCE COSTS?

If upsizing is on your mind, consider the added costs for maintaining a larger home and property, whether in money or time. Will you be able to keep up with cleaning, lawn care and general maintenance issues that come with owning a home? If you are ready to cross maintenance off your to-do list, perhaps you are ready to downsize to a more manageable property.

WHAT ARE YOUR OUTDOOR SPACE NEEDS?

Are you ready to give up having a backyard or pool to downsize to a maintenance-free space? Do you need outdoor space for your children to play or your dog to run around in? The size of the house is one thing, but the property is important also.

IS IT THE RIGHT MARKET TO UPSIZE OR DOWNSIZE?

A seller’s market is hot for those looking to sell a larger home and downsize. Upsizing may be riskier in a big seller’s market, but if your family would be happier in a larger home, it might be worth the leap.

Connect // cpo.com.au

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