Upsizing to a Bigger Home: A Quick Guide
Whether you fancy a lifestyle change or want more space for your growing family, upsizing can be a great option. Upsizing means scaling up a property’s overall size and scope, including its total square footage. So, you may choose a house of the same size but with a garden and a backyard.
If you’re looking for a bigger house but are unsure if it’s the right decision, our guide can help. Here, we cover the pros and cons of upsizing, as well as financial considerations and other alternatives.
The pros and cons of upsizing
Buying a bigger house comes with advantages and disadvantages. These include the following:
| Pros | Cons |
| A bigger house often means more indoor and outdoor space, including a garage, a garden and a utility room. |
Upsizing may lead to higher maintenance costs and utility bills. |
| Upsizing can increase your home’s value over time. |
Larger homes are more expensive, and you may need to save for a bigger deposit. |
| Bigger homes can help you declutter. |
Higher mortgage rates may mean higher monthly repayments. |
Things to consider before upsizing
Upsizing your home is an exciting milestone but also an important financial decision. Ask yourself the following questions:
• Reasons – Why do I want to upsize?
• Time – Is now the right time to upsize?
• Location – Do I like it, and will it suit my future needs?
• Property – What property type would best suit my needs?
• Mortgage – Can I afford the mortgage and the monthly repayments?
• Costs – Can I afford the extra costs like Stamp Duty and higher maintenance and utility bills?
• Resale value – If you’re considering moving again in the future, factor in the property’s resale value.
Alternatives to upsizing
If you’re not ready to buy a bigger house, there are several alternatives you may want to consider. These include:
• Renovations – Renovating your home or some of its rooms is cost-effective and less time-consuming. You can expand your loft space to create another room or opt for an open-plan living room to make your home feel more spacious.
• Extensions – You don’t need to buy a bigger house to have more rooms. Extensions don’t usually require planning permission unless they cover more than half the land area around the original property.
• Other additions – If you have a garden, consider building a shed for additional storage.
Ready to upsize? Our brand-new 4 bedroom and 5 bedroom homes benefit from generous garden space, abundant natural light and functional rooms. They’re energy-efficient and sustainable to help you keep running costs at bay.
Explore unique homebuying offers, including Part Exchange, Deposit Unlock and Parent Power. Contact our Sales Advisers today to reserve your home.
Our Offers to Help Get You Moving
Movemaker
We could help you arrange to sell your existing home, so you'll have no estate agent fees to pay.
Own New - Rate Reducer
Own New - Rate Reducer is a brand-new scheme available on new build homes that could mean lower mortgage rates and reduced monthly payments.
Part Exchange
We could be your guaranteed buyer, so no stress or fuss, just an easy move for you and your family.
Low Deposit Offers
If you have a low deposit, we have a variety of schemes available to help make moving more affordable.
Help to Sell
If you’re looking to start your next adventure, but are worried about the hassle of moving, we have a range of schemes available to help you sell your existing home.
