Right-sizing; Determining the Best Home Size for Your Lifestyle
by Emily Coombs
on Tuesday, October 6th, 2020 at 8:38pm.
Finding the right-sized home is an evolution; it changes from first home to the family home, then forever home. It's also reasonable to expect to buy and sell multiple times during various stages in life. These transitions can feel confusing. A young couple used to living in a small space downtown may be unsure of buying a bigger home as their family grows, while empty-nesters moving to condominiums or townhouses are excited to free up time spent on maintenance.
You'll know when it's time to assess the size of your living space; you will feel it in how you utilize the area, how you move through it and how it feels to be there. There are several factors to consider when weighing your options. Condominiums and townhouses generally have a lower cost of entry, making for a good starter home. A lower price point is helpful in retirement also, making them an excellent first and last home.
The most popular house for growing families is a 3-bedroom, 2.5 baths with an entertainment room. Many of our towns are historic, with smaller homes around the downtown. If you're looking for a larger home, it may be a little farther out. You may want to narrow your search by location, considering the length of your commute to work, schools, parks, and personal priorities. You'll also want to think about storage, maintenance, and functionality. It's a busy time in one's life!
Empty-nesters should evaluate long-term factors. Will your house be comfortable to live in as you age? Many people prefer single-floor homes as they get older, and often they find they need less space and fewer belongings, leading them to a 2-bedroom house. If you opt for a condo or townhome, the Home Owner's Association dues usually cover things like trash, snow removal, and yardwork, making upkeep much more manageable. You'll also want to consider essential services. Is it easy to get to the grocery store and health care from your location? Do you prefer urban or rural living? Are community, walkability, and connection vital to you, or do you like to have more personal space?
No matter what your stage in life, the most important thing to consider is what size of the home will provide you the most outstanding quality of life.