Is buying a bigger house a good investment?
A Bigger House Isn’t a Guaranteed Better Investment
So while you certainly want to buy a home that you love, you also need to consider the return, just like you would with any other investment.
Real estate market trends can change rapidly, as evidenced by the rise and fall of the McMansion.
Do we need a bigger house?
If You Need a Bigger House – There’s Got to be a Good Reason. A bit of common sense is called for. To answer the question – do we really need a bigger house – our immediate answer would be yes; that is, if you’re living in cramped quarters, you’ve got the extra cash, and your family is growing.
Is it a good time to upgrade your house?
Upgrading to a larger home is a good idea when market conditions favor buyers. Buying a bigger house when interest rates are low is also a good idea because lower rates mean smaller monthly payments and more purchasing power.
How do people afford bigger houses?
Here are six things to keep in mind before leaping into a larger home.
- Think critically about your goals. Yes, we get it: You want more space.
- Determine whether bigger is truly better.
- Buy only the space you’ll use.
- Crunch the numbers.
- Consider the resale value.
- More space might mean buying in a different neighborhood.