Eventually almost all homeowners reach that point where they begin to ask themselves, even if they love their current home, “is it time to move?” But since doing so is a major decision – and a major lifestyle change – making a move does call for some serious thought and consideration. However, that being said, here are five big signs that it may indeed be time for you and your family to move on.
You’ve Added Kids into the Equation: Maybe you bought your current home when you were just one half of a couple and now you are one half of a set of loving parents. Maybe technically there is enough room for Mom, Dad and the kid(s) but you know that it would be nice if the kids rooms were bigger, if they had a playroom or even just more room to run.
It’s Time for School: Another consideration for some is school. In your pre-child days you probably didn’t really care too much about which school district your home fell into. Once you have kids though that usually changes big time. In fact in a 2015 Back to School survey by Realtor.com, in fact, found that three out of five North American homebuyers with children said that purchasing a home within a specific school district was important to them.
Your Basic Needs have Changed: As time passes what people actually need from their home does tend to change. Maybe you have changed jobs since you bought your home and now the commute to work really is a bit too long. Or maybe your slightly noisy neighbourhood, the one that was cool when you were childless, is a little less suitable for raising kids in. Or maybe you could just really use a real laundry room.
You’ve Been Considering a Big Remodel: If you have found yourself seriously considering investing in a major home remodeling project, your current home probably no longer meets your needs. Be sure to consider the costs and disruption to your life on both sides when making the big move or remodel decision.
Yes, moving to a new home certainly presents its share of challenges and not all of them are a breeze to deal with. However, Remodeling Magazine notes that in 2015, the average cost of a master suite addition in Canada was more than $100,000, while a major kitchen remodel cost nearly $50,000. And that doesn’t take into account the disruption of living without a kitchen or bathroom during the remodel!
You Can Just Afford More: Starter homes are great, but they are called starter homes for a reason. People buy them when their ‘grown up’ lives are just starting out and at that time they usually suit their budget just fine. Over time though you have possibly both increased your income and built up equity in your current home, things that will allow you to move up to the ‘next level’ and on to a larger, more high-end home.