Everyone has their own opinion of what kind of house – and the size – that would suit you. Often it’s their own projections and what they assume you may want, however its important to really seek out the ramifications of the house size you choose, how much space you need, and how much you want to afford.
Lenders may assume that you want a loan for a larger home, but more is not necessarily better, especially among different groups of buyers. Home sizes have more than doubled in the last 50 years to keep up with demand while the average family size has been steadily decreasing. So what are homeowners doing with all that extra square footage? Turns out not much. Often certain rooms in homes with four or more bedrooms and multiple dining/living rooms are only occasionally used and as many have said, there’s only one place you can sit in your home at any given time. So with many advantages including– cost, maintenance and upkeep and ongoing affordability related to the size of the home – it may be worth considering how much home you really need. After all Australia and the US have some of the biggest homes in the world, with four times the floor space of Some key areas to assess to help you decide include:
Lifestyle and Family Size
The amount of time you spend in the home and the size of your family can help you decide. If you’re are homebody and love to spend time outside, you’ll at least want a backyard that you can make all yours. A smaller home will be suitable for professionals or those who tend to go out more. Remember, a home has to reflect your situation not what you think is expected. It’s important to keep in mind your future needs – i.e. if you plan to have more kids or parents living in the home and accommodate for these as much as possible.
Upkeep and Other Costs
Larger homes cost more to heat and cool, take more resources to clean, and usually incur more maintenance costs. This is all time and money that could be spent on other pursuits. A smaller space means you have less chance to create clutter, and spend money accumulating items that are rarely used and take up space. Also being open to buying a smaller home will mean you may afford to buy in different areas, and if you’re building your own home, less square footage but a smart home design where many areas can be used for different purposes, will mean it’s a lot’s more affordable to build. Dixon Homes have more than 1600 home designs of all sizes to suit differing budgets and lifestyles of our diverse group of buyers.
Just because you have been approved to borrow a certain amount, does not mean that’s how much you need to spend. Keep in mind how much the repayments will be, and make sure that you have not overcommitted, especially if circumstances change.
The team at Dixon Homes Brisbane can help you assess what size of home is right for you by asking you the most important questions based on your lifestyle, needs and budget. We have a number of fantastic value brand new house and land packages available for varied groups of buyers so don’t hesitate to call us today on 1300 10 10 10 for more advice when it comes to going over your new home options.